The Risk in Risk Management

Major Project Blues Over the last two decades, almost every major project has suffered significant cost overruns, significant schedule delays, and/or poor quality work. Exceptions are rare and most projects that tout being ?On Time and Under Budget? have re-cast schedules, significantly modified scope or revised base estimates. The problem isn?t new. In the late 1980?s the Rand Corporation published a study showing that 80% of all major projects had significant cost and schedule overruns. The problem is not restricted to the Canadian environment, or to a specific industry. It is a global problem.