When thinking of what will happen with your new project or initiative you may find that you end up producing an excessively positive assessment of the outcome. We're human beings, and so we're often pre-disposed to wanting the best out of any situation. However, not considering realistic outcomes means that you can easily fail to take any action to mitigate problems.
When thinking of what might happen in any situation, think about what you hope will happen, and then weigh up the evidence and past experience and determine what you expect to happen.
Hopes and Expectations can also be used to "sugar the pill". I.e. to reduce the impact of bad news. For example, you could say "we expect X to happen, but we hope that Y will happen".