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Cautionary Tales with Tim Harford cover image

Into the Black Lair: V2 Rocket (Part 2)

Cautionary Tales with Tim Harford

NOTE

The Pitfalls of Large Ambitious Projects

Large ambitious projects often suffer from cost overruns and unmet promises. Research by management professor Bent Flubia revealed that nine out of ten mega projects exceed their budget, and the benefits are usually below expectations. This trend is observed globally across public and private sector initiatives. The root causes lie in human tendency to underestimate time and costs, leading to unrealistic expectations.

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