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Cost overruns aren’t just due to incompetence, bureaucracy and bad faith

By Hicham Rahali, Lecturer in integrated risk management, HEC Montréal
Miguel Hernandez, Maître d'enseignement au département de management, HEC Montréal

Cost overruns on major projects do not stem from incompetence alone. Above all, they reveal inadequate management of uncertainty, which turned into a premature public promise.

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