APMG BBC Foundation Practice Questions - APMG International Better Business Cases Foundation Exam

What does OPTIMISM BIAS refer to in the context of an economic appraisal within the Five Case Model?

The tendency for project teams to overestimate benefits and underestimate costs and timescales The requirement to present only positive outcomes to ministers A statistical technique for comparing public and private sector options An adjustment made only to capital costs, not to benefit estimates

Correct Answer:

The tendency for project teams to overestimate benefits and underestimate costs and timescales

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