Risk and Uncertainty in the Cost Contingency of Transport Projects: Accommodating Bias or Heuristics, or Both?
Transport projects are regularly subjected to cost misperformance. The contingency set aside to cover any increases in cost due to risk and uncertainty issues is often insufficient. We review approaches that have been used to estimate a cost contingency. We show that some approaches such as referenc...
| Main Authors: | , , , |
|---|---|
| Format: | Journal Article |
| Published: |
2021
|
| Online Access: | http://purl.org/au-research/grants/arc/DP160102882 http://hdl.handle.net/20.500.11937/90130 |