If you make the right decision based on inadequate information, you are lucky rather than intelligent. Although many planning decisions (including big ones, where the horizon is years off) must be made on partial information and rely on estimates, “due diligence” involves learning as much as you can. Two running fights over Joint Strike Fighter procurement, in the U.K. and Canada, show how the lack of due diligence can get you in trouble. We reported the first rounds in the U.K. ...

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