A technique where forecasts of an initiative's duration, costs and benefits are derived from what actually occurred in a reference class of similar projects.
Alternatively, estimates can be built up in the traditional manner and then adjusted by set percentages based on past performance — this is the approach used in the UK central government where a standard set of optimism bias adjustments are included in the HMT Green Book.
A technique where forecasts of an initiative's duration, costs and benefits are derived from what actually occurred in a reference class of similar projects.
Alternatively, estimates can be built up in the traditional manner and then adjusted by set percentages based on past performance — this is the approach used in the UK central government where a standard set of optimism bias adjustments are included in the HMT Green Book.
