Details

  • Industry: Building, Construction & Real Estate
  • Type: White paper
  • Date: 8/1/2013

Preventing Black Swans: Avoiding Major Project Failure 

A black swan event is described as an event that is extremely hard to predict, is significant in magnitude, and is often inappropriately rationalized with the benefit of hindsight.

Avoiding Major Project Failure - Turning Black Swans White
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In reality, most catastrophic project failures are not due to black swan events but instead are a series of project failures and an overreliance on optimistic project managers with limited experience addressing problems on major capital projects ($500m +).

 

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