Underestimating costs in public works projects: Error or lie?
According to Flyvbjerg et al (2002), ‘Project costs often exceed forecast as Project Sponsors are lying with their original estimates to ensure funding for their projects’.
Source: Journal of the American Planning Association 279-295 Volume 68, Issue 3
a) Review literature to develop a conceptual framework for reasons why costs or time can exceed forecasts;
b) Compare and contrast this framework against one public sector project of your choice; and
c) Identify the extent to which theory and practice agree.
Remember to attribute all sources.
Core Texts:
Gower Handbook of Project Management 4th ed. Ebook.
You will be required to undertake research or reading prior to each seminar, further details of which will be posted on the Learning Network: Maylor, H. (2010) Project Management, 4th Edn. Financial Times/Prentice-Hall.
ASSESSMENT SCHEME
The assignment will be assessed according to the following criteria:
Criteria
Knowledge and Understanding
35%
Ability to introduce, explain and apply key theories/concepts
Ability to synthesise information to reach conclusions
Analysis with supporting evidence
35%
Attempt to develop and defend a critical stance
Effective use of examples to illustrate points and justify arguments
Reading and Research
20%
Evidence of relevant reading beyond the set material
Adequate acknowledgement of sources
Accurate and complete references and referencing
(with references properly cited and listed)
Writing style (e.g. clarity) and Presentation (e.g. Format) 10%
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