Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- Ask the CIO
- Connected Government
- Consolidating Mission-critical Systems
- Constituent Servicing
- The Data Privacy Imperative: Safeguarding Sensitive Data
- Eliminating the Pitfalls: Steps to Virtualization in Government
- Federal Executive Forum
- Federal Tech Talk
- Government Cloud Brokerage: Who, What, When, Where, Why?
- Government Mobility
- The Intersection: Where Technology Meets Transformation
- Maximizing ROI Through Data Center Consolidation
- Mobile Device Management
- The Modern Federal Threat Landscape
- Moving to the Cloud. What's the best approach for me
- Navigating Tough Choices in Government Cloud Computing
- Satellite Communications: Acquiring SATCOM in Tight Times
- Transformative Technology: Desktop Virtualization in Government
- Understanding the Intersection of Customer Service and Security in the Cloud
Shows & Panels
Where infrastructure estimates come up short
Monday - 10/18/2010, 4:21pm EDT
"Explanations range from subtle psychological impulses when numbers are involved, to the economic phenomenon known as the winner's curse, to outright lying," The Wall Street Journal reports.
Economists and behavioral scientists say budget excess comes from planners' irrational optimism.
"Optimism is tremendously inspiring. Accuracy, perhaps not so much," said Dale Griffin, professor of marketing at the University of British Columbia's Sauder School of Business, who has studied irrational optimism, according to the article.
The "winner's curse" explanation points to another reason for keeping cost estimates low: The project will look more attractive to funders.
This story is part of our daily DorobekINSIDER Must Reads. Be sure to check out the full list of stories.