In new paper, American construction industry executive Bob Prieto argues that most large projects may be doomed to failure
8 February 2015 – Dallas, London, Sydney – Bob Prieto, senior vice president at Fluor corporation in the United States, has authored another serious new paper titled “Improbability of Large Project Success.” According to Bob’s introduction: “In his book, ‘The Improbability Principle’, David Hand, former president of the Royal Statistical Society, provides a tour de force treatment of uncertainty and how improbable events happen, over and over again. For those who have not read it I highly recommend it… In this paper I will attempt to use the lenses described by David Hand and look at the world of large projects and their unacceptably high failure rates. Application of ‘best practices’ would suggest these failures should be improbable or at least less frequent than reported failure rates suggest. If we are to repeatedly experience the improbable it is perhaps better that we understand it.”
To read this paper now in the PM world Library, go to the author’s showcase page at https://pmworldlibrary.net/authors/bob-prieto/ and click on the title. Must be a logged in library member to access after 10 March 2015.
