Lesson
14

Planning optimism

Success Problem

Underestimating of the costs and requirements for project financing.

Impact

Overrun of the planned project cost and risk of the project break of.

Recommendation

To think in idle wishes is not optimistic thinking but being afraid to face the truth. Estimate the cost for every activity using PERT method (optimistic, normal and pessimistic cost estimate) and manage the project using the earned value method.

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