
Into the Black Lair: V2 Rocket (Part 2)
Cautionary Tales with Tim Harford
00:00
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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