Reducing Cost Overrun in Public Housing Projects: A Simplified Reference Class Forecast for Small Island Developing States

Reducing Cost Overrun in Public Housing Projects: A Simplified Reference Class Forecast for Small Island Developing States

Inaccuracies in cost estimation on construction projects is a contested topic in praxis. Among the leading explanations for cost overrun (CO), factors accounting for large variances in actual cost are shown to have psychological or political roots. The context of public sector social housing project...

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Bibliographic Details
Main Authors: Aaron Chadee, Hector Martin, Sihara Gallage, Upaka Rathnayake
Format: Article
Language:English
Published: MDPI AG 2023-04-01
Series:Buildings
Subjects:
optimism bias
strategic misrepresentation
reference class forecasting
public housing
outside view
cost overruns
Online Access:https://www.mdpi.com/2075-5309/13/4/998

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