Planning fallacy: Why we are so bad at predicting how long something will take
Idea to Value
JULY 27, 2023
The Sydney Opera house is one of the most iconic buildings in the world. I had the pleasure of living there for a while, and it always took my breath away. But did you know that it is one of the best examples of a project going over time and budget? Construction was originally planned to only cost $7 million and be finished in 1963. It ended up taking more than 10 years longer, and costing over $102 million , around 1,357% over budget.
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