The suggestion to make a Chinese translation of Megaprojects and Risk: An Anatomy of Ambition was particularly welcome. The book is about how to plan and deliver megaprojects in ways that secure successful outcomes. Megaprojects are highly risky and often go wrong, even in China. Some have gone...

A major source of risk in project management is inaccurate forecasts of project costs, demand, and other impacts. The paper presents a promising new approach to mitigating such risk based on theories of decision-making under uncertainty, which won the 2002 Nobel Prize in economics. First, the...