Optimism bias, strategic misinterpretation and reference class forecasting

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Multi-National corporations completing large-scale projects throughout the world face high overruns and potential overestimation on initial budgets. This can be a result of a number of factors.


Contents

Background Information on Flyrbergs danish theory

Optimisim Bias

Strategic Misinterpretation

Reference Class Forecasting

Business Practise

Limitations

Alternatives

Conclusion

References

[1]

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