Question
The Denver International Airport opened 16 months late, at a cost overrun of $2 billion (I've also seen $3.1 billion asserted); the Eurofighter Typhoon,
The Denver International Airport opened 16 months late, at a cost overrun of $2 billion (I've also seen $3.1 billion asserted); the Eurofighter Typhoon, a joint defense project of several European countries, was delivered 54 months late at a cost of $19 billion instead of $7 billion; and the Sydney Opera House in Australia, perhaps the most legendary construction overrun of all time, originally estimated to be completed in 1963 for $7 million, and finally completed in 1973 for $102 million have all been cited as examples of the "planning fallacy," a phenomenon in which predictions about how much time will be needed to complete a future task display an optimistic bias and underestimate the time needed. These specific examples and the more general "planning fallacy" most probably have as their genesis which one of the following decision-making errors/biases? 00000 attributional self-serving Pygmalion overconfidence anchoring QUESTION 12
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