We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
The Effect of Optimism Bias on the Decision to Terminate Failing Projects.
- Authors
Meyer, Werner G.
- Abstract
This research presents the findings from an experiment that investigated to what extent decision makers suffer from optimism bias when escalating a commitment to failing projects; 345 individuals, involved in project decision making, participated in the experiment. A new form of optimism bias, namely post-project optimism bias, is defined. Post-project optimism bias is an overly optimistic belief that a project will deliver better business benefits than what was planned or that can be proven. It is further confirmed that both post-project and in-project optimism biases have significant effects on the escalation of commitment to failing projects.
- Subjects
PROJECT management; PROJECT management -- Failure; PROJECT evaluation; OPTIMISM; DECISION making &; psychology; ECONOMICS
- Publication
Project Management Journal, 2014, Vol 45, Issue 4, p7
- ISSN
8756-9728
- Publication type
Article
- DOI
10.1002/pmj.21435