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Megaprojects and Risk

An Anatomy of Ambition
in: Sociology
Summary:

The book analyzes the patterns of cost overruns, schedule delays, and benefit shortfalls that frequently plague large-scale infrastructure projects. It provides case studies and statistical evidence to argue that project promoters often underestimate risks and costs, leading to significant economic consequences and policy implications.

Key points:

1. Optimism Bias: Planners often underestimate megaproject costs and risks due to overly positive expectations.

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