Following my blog last month on stakeholders and financing for the Hinkley Point nuclear power station (read the full article here), I note this morning the following article on the BBC magazine pages concerning the “most expensive” objects on earth.
In the article the script writer attempts to “cost” and “compare” projects from different civilisations in order to calculate if the Hinkley Point project is indeed the worlds most expensive project. The Pyramids and the Great Wall of China are in there (useful for all of those training courses where I ask “what was the first project?”), Heathrow Terminal 2, London Crossrail, Hong Kong International Airport, as well as some less well known (in the UK) very expensive projects such as the Gorgon liquefied natural gas plant in Australia, and the refurbishment of the Grand Mosque in Mecca.
The conclusion is, that whatever the most expensive object on earth is, the International Space Station is space is even more expensive!
The article serves to remind that estimating is not easy, and estimates of costs for a project (by definition something new) should not be expected to be accurate. Project Managers should always remind senior managers that they are not fortune tellers!
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