Originally posted by meridian
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"Firstly, the business case process is designed to reduce risk by up-front assessment of the merits of an investment. But despite the apparent sophistication, this is all just guesswork.
'As Andrew wrote:
at their heart, business cases are crystal ball gazing with Excel tables. Experience has shown that there is no better way to guarantee poor predictions than to use individual experts to make assumptions about the future, and sprinkle on a little cognitive bias. Yet this is exactly how we still cost up all the biggest public sector investments.
'We are trapped in what Nassim Nicholas Taleb calls an “Intellectual Yet Idiot”-led process.
Furthermore, the traditional SOC/OBC/FBC process is designed around big, traditional OJEU procurement processes. We write down our requirements up front, run a tender and sign a waterfall contract. Discovery and iteration — if it happens at all — is usually confined to the ‘SOC’ stage.'

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