Optimism bias
The Green Book, Central Government Guidance On Appraisal And Evaluation, Published by HM Treasury in 2018, suggests that: ‘Optimism bias is the proven tendency for appraisers to be over-optimistic about key project parameters, including capital costs, operating costs, project duration and benefits delivery.’
Project Routemap, Setting up projects for success, Organisational Design & Development, UK Module, published by the Infrastructure and Projects Authority, defines optimism bias as: ‘The demonstrated and systematic tendency to overemphasise positive benefits and opportunities and undervalue the costs and negative risks of projects. This bias should be quantified when developing cost plans and schedules.’
[edit] Related articles on Designing Buildings Wiki
Featured articles and news
Safeguarding Cultural Heritage
Protecting heritage from disasters. Book review.
Life saving feats of engineering
Three structures forever changed people's lives for the better.
Net zero 2050 targets could require 12,000 new employees per year
ECA comments on findings of BEIS Green Jobs Task Force.
The future of transport subsidies
Why government can't support public transport forever.
Government introduces the Information Management Mandate.
Designing and building for the future.
Fabricating mystical connections between nature and architecture.
Energy retrofits for traditionally built homes
IHBC issues responses to ECO4 and PAS 2035.
The narrative power of video gaming technology.
Can metro mayors drive net zero initiatives?
Report examines the possibilities and limitations of localised actions.