Local Transport Today is the authoritative, independent journal for transport decision makers. Analysis, Comment & News on Transport Policy, Planning, Finance and Delivery since 1989.

Why do cost overruns spell the death knell for trams but not roads?

Peter Johnston
24 May 2007
 

Your comprehensive account of optimism bias and its application is of considerable value ('Can removing human bias deliver more realistic project forecasts?' LTT 10 May). Project respecification is identified as one significant element contributing to cost overruns. In railway management, at least, such project respecification was and is justified. It was common practice when a major project involving engineering possessions had been agreed to re-examine forward replacement and renewal...

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