‘Optimism bias’ common cause of cost overrun: project expert on Muskrat Falls

HAPPY-VALLEY GOOSE BAY, N.L. — Hydroelectric dams are particularly vulnerable to cost and schedule overruns, an expert testified Sept. 17 at the start of a public inquiry into the Muskrat Falls hydro megaproject in Labrador. Oxford University economics professor Bent Flyvbjerg, who is described on his faculty page as “the most cited scholar in the … Continue reading ‘Optimism bias’ common cause of cost overrun: project expert on Muskrat Falls