Enhancing Cost Forecasting in Major Capital Projects: Key Findings and Recommendations
This study analyses cost forecasting in major capital projects, identifying causes of cost underestimation and proposing measures to improve accuracy. Key findings highlight optimism bias, strategic misrepresentation, and the importance of data quality for accurate forecasts. Recommendations include
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Disaggregating the SDGs by Disability: Capacity of Statistical Offices
Investigating national statistical offices' capacity to disaggregate SDG indicators by disability status. Determined suitable indicators, surveyed countries, and found underestimation in ability. Some countries reported inability despite having suitable tools, while others planned to utilize the Was
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Advancements in Chemical Mechanisms for Aerosol Effects in WRF/Chem Model
This study focuses on the development of a new chemical mechanism in the Weather Research and Forecasting with Chemistry (WRF/Chem) model to address the underestimation of carbonaceous aerosols. The RACM/MADE/SOA-VBS mechanism incorporates advancements in gas-phase chemistry and particle parameteriz
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Analyzing Deepwater Disaster: Inaccurate Oil Spill Estimates
Explore the Deepwater Horizon disaster, where oil spill estimates were inaccurate due to various factors such as convoluted discharges, technological limitations, and reluctance to share data. Consequences of underestimation and reasons behind flawed estimates are discussed, shedding light on the ch
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Turning Points of the American Revolutionary War
The American Revolutionary War saw key turning points including battles like Trenton and Saratoga, harsh winters at Valley Forge, and the final victory at Yorktown. Factors contributing to the Patriots' win were British underestimation, political nature of the conflict misunderstanding, high Patriot
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Unleash Your Drawing Potential with Scout Motto: Do Your Best!
Explore the theme of self-limiting beliefs and underestimation of abilities in a scout troop setting through an engaging presentation encouraging drawing as a way to challenge perceptions and inspire confidence. The message of trying, pushing boundaries, and fostering an open mind echoes throughout,
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The Impact of Artists and Creatives in Border Regions on Culture and Economy
Artists and creatives play a crucial role in the cultural and economic landscape, particularly in border regions where diverse cultures intersect, fostering creativity and innovation. Despite facing challenges, they significantly contribute to social cohesion, the European economy, and the cultural
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Women Empowerment in Tech: Overcoming Bias and Building Inclusive Environments
The history and current efforts in empowering women in tech are highlighted through examples from UC San Diego, Harvey Mudd College, and Carnegie Mellon University. Challenges like unconscious bias and self-underestimation are addressed, showcasing initiatives that have led to increased female repre
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Understanding Cost Overruns in Projects: Systematic Bias vs. Selection Bias
Cost overruns in projects can be attributed to systematic bias, like optimism bias and strategic misrepresentation, or selection bias where projects with low estimated costs are more likely to be selected leading to underestimation. Mitigating these biases is crucial for accurate project budgeting a
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Understanding the Expense Prediction Bias: Study on Underestimation of Future Expenses
Expense Prediction Bias (EPB) refers to the persistent underestimation of future expenses. Research shows that individuals tend to under-predict their future expenses due to various factors. This study explores the magnitude of EPB in an adult sample, highlighting a mean EPB of $63.58, with predicte
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