Megaprojects and Risk
by Bent Flyvbjerg, Nils Bruzelius, Werner Rothengatter · first published 2003
50% recommend50% neutral
"Megaprojects and Risk provides the first detailed examination of the phenomenon of megaprojects. It is an account of how the promoters of multibillion-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
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If you’re interested in cost benefit analysis of large public projects, Megaprojects and Risk is a must-read. https://en.m.wikipedia.org/wiki/Megaprojects_and_Risk
on “Proposal to fix NYC’s subway and broader transit system expected to cost $19B” ↗…implications like privatization. There's no persuasive material evidence of the purported theory that privatization is more efficient. The most favorable evidence from the supporters (for instance, Megaprojects and Risk: An Anatomy of Ambition by Bent Flyvbjerg he has 3 more on the topic) say that private and public projects are about the same. They go over budget about the same and fail about the same. Other more critical…
on “TurboTax Hides Its Free File Page from Search Engines” ↗