Download or read book Cost Overruns in Transport Infrastructure written by Marion Terrill and published by . This book was released on 2016-10-23 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Policy and Planning for Large Infrastructure Projects written by Bent Flyvbjerg and published by World Bank Publications. This book was released on 2005 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: "This paper focuses on problems and their causes and cures in policy and planning for large infrastructure projects. First, it identifies as the main problem in major infrastructure development pervasive misinformation about the costs, benefits, and risks involved. A consequence of misinformation is massive cost overruns, benefit shortfalls, and waste. Second, the paper explores the causes of misinformation and finds that political-economic explanations best account for the available evidence: planners and promoters deliberately misrepresent costs, benefits, and risks in order to increase the likelihood that it is their projects, and not the competition's, that gain approval and funding. This results in the "survival of the unfittest," where often it is not the best projects that are built, but the most misrepresented ones. Finally, the paper presents measures for reforming policy and planning for large infrastructure projects, with a focus on better planning methods and changed governance structures, the latter being more important."--World Bank web site.
Download or read book Cost Overruns in Large scale Transport Infrastructure Projects written by Chantal Corinne Cantarelli and published by . This book was released on 2011 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Megaprojects and Risk written by Bent Flyvbjerg and published by Cambridge University Press. This book was released on 2003-02-13 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: Megaprojects and Risk provides the first detailed examination of the phenomenon of megaprojects. It is a fascinating account of how the promoters of multi-billion dollar megaprojects systematically and self-servingly misinform parliaments, the public and the media in order to get projects approved and built. It shows, in unusual depth, how the formula for approval is an unhealthy cocktail of underestimated costs, overestimated revenues, undervalued environmental impacts and overvalued economic development effects. This results in projects that are extremely risky, but where the risk is concealed from MPs, taxpayers and investors. The authors not only explore the problems but also suggest practical solutions drawing on theory, experience and hard, scientific evidence from the several hundred projects in twenty nations and five continents that illustrate the book. Accessibly written, it will be the standard reference for students, scholars, planners, economists, auditors, politicians and interested citizens for many years to come.
Download or read book Different Cost Performance written by Chantal Cantarelli and published by . This book was released on 2015 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines three independent explanatory variables and their relation with cost overrun in order to decide whether this is different for Dutch infrastructure projects compared to worldwide findings. The three independent variables are project type (road, rail, and fixed link projects), project size (measured in terms of estimated costs) and the length of the project implementation phase. For Dutch projects, average cost overrun is 10.6% for rail, 18.6% for roads and 21.7% for fixed links. For project size, small Dutch projects have the largest average percentage cost overruns but in terms of total overrun, large projects have a larger share. The length of the implementation phase and especially the length of the pre-construction phase are important determinants of cost overruns in the Netherlands. With each additional year of pre-construction, percentage cost overrun increases by five percentage points. In contrast, the length of the construction phase has hardly any influence on cost overruns. This is an important contribution to current knowledge about cost overruns, because the period in which projects are most prone to cost overruns is narrowed down considerably, at least in the Netherlands. This means that period can be focused on to determine the causes and cures of overruns.
Download or read book Large Infrastructure Projects in Germany written by Genia Kostka and published by Springer. This book was released on 2016-05-23 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents an analysis of why some large infrastructure projects are delayed or compromised and offers important insights into the better delivery of future projects. It provides an important reaction to the ambitious €315 billion investment plan devised by the European Commission, wherein Europe's infrastructure is a key investment target. Germany is adopted as a focus, as Europe's largest economy, and a nation that has seen significant delays and tensions in the delivery of key infrastructure projects. The contributions to this volume demonstrate various patterns for infrastructure assets and illustrate how factors such as poor project governance, early planning mistakes, inappropriate risk management and unforeseen technological challenges influence delivery. The in-depth case studies on the Berlin Brandenburg Airport, the Hamburg Elbphilharmonie, and offshore wind parks show how project delivery can face massive problems, and illuminating solutions are offered to these problems. Overall, the case of Germany also offers the opportunity to assess various new forms of project delivery, such as public-private partnerships (PPP), and the risks and opportunities of ambitious first-mover 'pioneer' projects. The book will be of great interest for scholars and upper-level students of human geography, business and management, as well as policy makers.
Download or read book Cost Overrun A Complete Guide 2019 Edition written by Gerardus Blokdyk and published by 5starcooks. This book was released on 2019-06-19 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the reasons for cost overruns? Do reforms reduce the magnitudes of cost overruns in projects? Has the impact of cost overruns been analyzed? What causes cost overrun in transport infrastructure projects? What is the total value of project cost overruns? This powerful Cost overrun self-assessment will make you the reliable Cost overrun domain visionary by revealing just what you need to know to be fluent and ready for any Cost overrun challenge. How do I reduce the effort in the Cost overrun work to be done to get problems solved? How can I ensure that plans of action include every Cost overrun task and that every Cost overrun outcome is in place? How will I save time investigating strategic and tactical options and ensuring Cost overrun costs are low? How can I deliver tailored Cost overrun advice instantly with structured going-forward plans? There's no better guide through these mind-expanding questions than acclaimed best-selling author Gerard Blokdyk. Blokdyk ensures all Cost overrun essentials are covered, from every angle: the Cost overrun self-assessment shows succinctly and clearly that what needs to be clarified to organize the required activities and processes so that Cost overrun outcomes are achieved. Contains extensive criteria grounded in past and current successful projects and activities by experienced Cost overrun practitioners. Their mastery, combined with the easy elegance of the self-assessment, provides its superior value to you in knowing how to ensure the outcome of any efforts in Cost overrun are maximized with professional results. Your purchase includes access details to the Cost overrun self-assessment dashboard download which gives you your dynamically prioritized projects-ready tool and shows you exactly what to do next. Your exclusive instant access details can be found in your book. You will receive the following contents with New and Updated specific criteria: - The latest quick edition of the book in PDF - The latest complete edition of the book in PDF, which criteria correspond to the criteria in... - The Self-Assessment Excel Dashboard - Example pre-filled Self-Assessment Excel Dashboard to get familiar with results generation - In-depth and specific Cost overrun Checklists - Project management checklists and templates to assist with implementation INCLUDES LIFETIME SELF ASSESSMENT UPDATES Every self assessment comes with Lifetime Updates and Lifetime Free Updated Books. Lifetime Updates is an industry-first feature which allows you to receive verified self assessment updates, ensuring you always have the most accurate information at your fingertips.
Download or read book What Causes Cost Overrun in Transport Infrastructure Projects written by Bent Flyvbjerg and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Results from the first statistically significant study of the causes of cost escalation in transport infrastructure projects are presented. The study is based on a sample of 258 rail, bridge, tunnel and road projects worth US$90 billion. The focus is on the dependence of cost escalation on: (1) the length of the project-implementation phase, (2) the size of the project and (3) the type of project ownership. First, it was found, with very high statistical significance, that cost escalation was strongly dependent on the length of the implementation phase. The policy implications are clear: decision-makers and planners should be highly concerned about delays and long implementation phases because they translate into risks of substantial cost escalations. Second, projects have grown larger over time, and for bridges and tunnels larger projects have larger percentage cost escalations. Finally, by comparing the cost escalation for three types of project ownership - private, state-owned enterprise and other public ownership - it was shown that the oft-seen claim that public ownership is problematic and private ownership effective in curbing cost escalation is an oversimplification. The type of accountability appears to matter more to cost escalation than type of ownership.
Download or read book Decision making on Mega projects written by Hugo Priemus and published by Edward Elgar Publishing. This book was released on 2008-01-01 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: It will be useful for those experienced and senior professionals who are charged with authorizing and controlling projects. Recommended. P.F. Rad, Choice Building on the seminal work of Bent Flyvbjerg, this book is a collection of expert contributions that will prove essential to anyone wanting to understand why mega-projects go wrong and how they can be made to work better. Professor Sir Peter Hall, University College London, UK This book offers a refreshing and fascinating look at mega-projects from the perspective of public evaluation and planning. With the changing role of the public sector in planning and implementing large-scale projects and a subsequent strong emergence of private public modes of operation, mega-projects have become a problematic phenomenon. This volume is a major source of information and reference. It provides the reader with unique insights and caveats in mega-projects planning. Peter Nijkamp, VU University Amsterdam, The Netherlands This book enlarges the understanding of decision-making on mega-projects and suggest recommendations for a more effective, efficient and democratic approach. Authors from different scientific disciplines address various aspects of the decision-making process, such as management characteristics and cost benefit analysis, planning and innovation and competition and institutions. The subject matter is highly diverse, but certain questions remain at the forefront. For example, how do we deal with protracted preparation processes, how do we tackle risks and uncertainties, and how can we best divide the risks and responsibilities among the private and public players throughout the different phases of the project? Presenting a state-of-the-art overview, based on experiences and visions of authors from Europe and North America, this unique book will be of interest to practitioners of large-scale project management, politicians, public officials and private organisations involved in mega-project decision-making. It will also appeal to researchers, consultants and students dealing with substantial engineering projects, complex systems, project management and transport infrastructure.
Download or read book The Oxford Handbook of Megaproject Management written by Bent Flyvbjerg and published by Oxford University Press. This book was released on 2017 with total page 625 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook provides state-of-the-art scholarship in the emerging field of megaproject management. The 25 chapters cover all aspects of megaproject management, from front-end planning to project delivery, including how to deal with stakeholders, risk, finance, complexity, innovation, governance, ethics, project breakdowns, and scale itself.
Download or read book Cost Overruns in Large Scale Transportation Infrastructure Projects written by Chantal Cantarelli and published by . This book was released on 2013 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: Managing large-scale transportation infrastructure projects is difficult due to frequent misinformation about the costs which results in large cost overruns that often threaten the overall project viability. This paper investigates the explanations for cost overruns that are given in the literature. Overall, four categories of explanations can be distinguished: technical, economic, psychological, and political. Political explanations have been seen to be the most dominant explanations for cost overruns. Agency theory is considered the most interesting for political explanations and an eclectic theory is also considered possible. Non-political explanations are diverse in character, therefore a range of different theories (including rational choice theory and prospect theory), depending on the kind of explanation is considered more appropriate than one all-embracing theory.
Download or read book Mega Projects written by Alan A. Altshuler and published by Rowman & Littlefield. This book was released on 2004-05-13 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Brookings Institution Press and Lincoln Institute of Land Policy publication Since the demise of urban renewal in the early 1970s, the politics of large-scale public investment in and around major American cities has received little scholarly attention. In Mega-Projects, Alan Altshuler and David Luberoff analyze the unprecedented wave of large-scale (mega-) public investments that occurred in American cities during the 1950s and 1960s; the social upheavals they triggered, which derailed large numbers of projects during the late 1960s and early 1970s; and the political impulses that have shaped a new generation of urban mega-projects in the decades since. They also appraise the most important consequences of policy shifts over this half-century and draw out common themes from the rich variety of programmatic and project developments that they chronicle. The authors integrate narratives of national as well as state and local policymaking, and of mobilization by (mainly local) project advocates, with a profound examination of how well leading theories of urban politics explain the observed realities. The specific cases they analyze include a wide mix of transportation and downtown revitalization projects, drawn from numerous regions—most notably Boston, Denver, Los Angeles, New York City, Chicago, Atlanta, Dallas, Portland, and Seattle. While their original research focuses on highway, airport, and rail transit programs and projects, they draw as well on the work of others to analyze the politics of public investment in urban renewal, downtown retailing, convention centers, and professional sports facilities. In comparing their findings with leading theories of urban and American politics, Altshuler and Luberoff arrive at some surprising findings about which perform best and also reveal some important gaps in the literature as a whole. In a concluding chapter, they examine the potential effects of new fiscal pressures, business mobilization to relax environmental constraints, and security concerns in the wake of September 11. And they make clear their own views about how best to achieve a balance between developmental, environmental, and democratic values in public investment decisionmaking. Integrating fifty years of urban development history with leading theories of urban and American politics, Mega-Projects provides significant new insights into urban and intergovernmental politics.
Download or read book Cost and Revenue Overruns of the Olympic Games 2000 2018 written by Holger Preuß and published by Springer. This book was released on 2018-12-17 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this open access book the cost and revenue overruns of Olympic Games from Sydney 2000 to PyeongChang 2018 from eight years before the Games to Games‐time are investigated to provide a base for future host cities. The authors evaluated the development of expenditure and revenues of the organizing committees to operate the event, and the investment of taxpayers’ money for Olympic venues (non‐OCOG budget). The study is based on data collected worldwide and is currently the most advanced study on cost and revenue changes of Olympic Games.
Download or read book An Analysis of Cost Overruns and Time Delays of INDOT Projects written by Claire Bordat and published by . This book was released on 2004-12-15 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Understanding Infrastructure Project Costs The Effects of Project Implementation Length and Public Private Partnerships on Surface Transportation Project Overrun Costs written by Brianna Fernandez and published by . This book was released on 2018 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt: The causes of cost overruns in transportation infrastructure projects has been a topic that has puzzled academics for some time. The state of America's infrastructure has also sparked conversations among political leaders regarding how America can invest in our infrastructure at lower costs than it has in the past. While studies exist that have provided the essential building blocks and frameworks for understanding cost overruns, the majority of studies have an international focus. In this study I aspire to provide greater insight into the potential causes of overrun costs in transportation projects in the United States. Empirical Model: This study uses two linear probability models and two logit models to estimate the relationships between the dependent variable, overrun cost, and two independent variables, implementation length and whether a project is part of a public-private partnership agreement. Models include variables that control for project characteristics and state economic factors. Data: This study draws on data collected by the Federal Highway Administration and state Department of Transportations. From these sources I created a dataset of 48 completed transportation projects. Results: My LPM model suggests every year of project construction increases project overrun costs by more than 7.3 percentage points. My logit model regression results demonstrate that every additional year it takes to implement a transportation project, the likelihood of overrun costs increase by 1.16 times and every additional year of construction length increase the likelihood of overrun costs by 1.45 times. Policy Recommendations: My results suggest the following policy recommendations: (1) reduce implementation length; (2) incentivize P3s; and (3) penalize inaccurate cost estimations.
Download or read book The Infrastructure Finance Challenge written by Ingo Walter and published by Open Book Publishers. This book was released on 2016-11-21 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: Infrastructure and its effects on economic growth, social welfare, and sustainability receive a great deal of attention today. There is widespread agreement that infrastructure is a key dimension of global development and that its impact reaches deep into the broader economy with important and multifaceted implications for social progress. At the same time, infrastructure finance is among the most complex and challenging areas in the global financial architecture. Ingo Walter, Professor Emeritus of Finance, Corporate Governance and Ethics at the Stern School of Business, New York University, and his team of experts tackle the issue by focussing on key findings backed by serious theoretical and empirical research. The result is a set of viable guideposts for researchers, policy-makers, students and anybody interested in the varied challenges of the contemporary economy.
Download or read book Explaining Cost Overruns of Large Scale Transportation Infrastructure Projects Using a Signalling Game written by Chantal Cantarelli and published by . This book was released on 2014 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Strategic behaviour is one of the main explanations for cost overruns. It can theoretically be supported by agency theory, in which strategic behaviour is the result of asymmetric information between the principal and agent. This paper gives a formal account of this relation by a signalling game. This is a game with incomplete information which considers the way in which parties anticipate upon other parties' behaviour in choosing a course of action. The game shows how cost overruns are the result of an inappropriate signal. This makes it impossible for the principal to distinguish between the types of agents, and hence, allows for strategic behaviour. It is illustrated how cost overruns can be avoided by means of two policy measures, e.g. an accountability structure and benchmarking.
