DB: Project Value

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Consider this data:

Hosting the Olympics is an expensive undertaking. In late 2015, the people of Hamburgvoted to withdraw the northern German city's bid to host the 2024 Olympics with funding being one of the deciding factors. According to theOxford Olympic Study 2016(Links to an external site.), Rio has pumped $4.58 billion into hosting the games this year, incurring a 51 percent cost overrun in the process.

Even though that may seem like a huge amount of money, it's absolutely nothing compared to how much the Winter Olympics cost Sochi in 2014. The event's flagship projects were catastrophically over budget, causing overall costs to snowball dramatically. In the end, the Games cost Russia over $20 billion, a mammoth cost overrun of 289 percent. [Niall McCarthy, https://www.forbes.com/sites/niallmccarthy/2016/08/04/the-massive-cost-of-hosting-the-olympic-games-infographic/#654a8dcd2e38(Links to an external site.)]

Now, consider the reading from the eText and discuss the concepts of price/cost/value. Go back to the eText and be sure to discuss this information about the Olympics based on what you learned in the chapter.

Textbook: https://wisc.pb.unizin.org/technicalpm/chapter/managing-project-value-budgets-and-costs/