Megaprojects, u003ca href=u0022https://www.pmi.org/-/media/pmi/documents/public/pdf/research/research-summaries/flyvbjerg_megaprojects.pdfu0022 target=u0022_blanku0022 rel=u0022noopeneru0022u003ewritesu003c/au003e Bent Flyvbjerg, a leading expert on the topic, “are large-scale, complex ventures that typically cost more than $1bn, take many years to build, involve multiple public and private stakeholders, are transformational, and impact millions of people.”
Flyvbjerg points out that 90% of megaprojects have cost overruns, and that greater-than-50% cost overruns are “not uncommon”.
And yet, right now, megaprojects are underway all over the world as countries and cities prepare for the future. They’re clearly here to stay, so how can we get better at them?
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