Edit post

Edit your reply below.

Post Body
Enter your post below.
[quote user="Bucyrus"] Sam1, I can see how the probable benefit could be predicted by statistical models that project the future based on the past.  But I would say that it would be far more difficult to predict the cost.  Predicting the cost would be largely a matter of speculation and luck.  The principle of a mandate and deadline injects a wildcard into the normal free market economics.  The fact that it has already been established and accepted that the cost will exceed the benefit is evidence of that wildcard.  But perhaps another way of looking at the unpredictability of cost is that it naturally results from the undefined endpoint of the objective and scope of the project. [/quote] Predicting cost and benefits, especially for more than a year or two, is dicey.  Most of the corporate planners and regulators that I worked with acknowledged that coming up with an accurate prediction for costs and benefits for more than a year or two is more about playing to the audience than recognizing the constraints associated with accounting and finance predictions.
Tags (Optional)
Tags are keywords that get attached to your post. They are used to categorize your submission and make it easier to search for. To add tags to your post type a tag into the box below and click the "Add Tag" button.
Add Tag