Many important public works projects run over time and over budget. This is likely related to what concept

Question

Quizplus · Accepted Answer

The planning fallacy is the concept that explains why important public works projects run over time and over budget. It is the tendency to underestimate the time, costs, and risks involved in a project and to overestimate the benefits and outcomes. This leads to unrealistic planning and budgeting, which in turn leads to delays, cost overruns, and disappointment.

Many Important Public Works Projects Run Over Time and Over