Eli5: why are estimated budgets for big construction projects always wrong and end up spending more than expected? Why can’t we get better at these estimates?
In: Economics
Because both the public order law in almost any place in the world as well as private investements are more interested about picking lowest number possible on time. Getting good estimate costs money and time, and it is in the end irrelevant to actually win the bid for the job given whole industry is just running on perpetual overspending by default.
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