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Policies to Avoid Cost Overruns in Infrastructure Projects: Critical Evaluation and Recommendations

Construction Economics and Building

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Title Policies to Avoid Cost Overruns in Infrastructure Projects: Critical Evaluation and Recommendations
 
Creator Lind, Hans
Brunes, Fredrik
 
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Description Many infrastructure projects have cost overruns and there has been a lot of research both on why these cost overruns occur and what can be done to reduce hem. Bent Flyvbjerg is the leading researcher in the area and in this article his proposals are used as the starting point. Besides a literature review, a questionnaire was sent out to experienced Swedish project managers to find out what they thought could reduce cost overruns. The literature review and the questionnaire were the foundation for the proposals formulated in this article. Proposals concerned three areas: (1). Organisational macro-structure, e.g. using more PPP projects but also decentralisation of budgets where cost overruns in one project in a region lead to less alternative projects in the specific region. (2). Organisational quality: It should be easy to see when and where cost overruns occur and who was responsible. There should be a well-developed knowledge management system in the organisation and an organisation culture of openness with a focus on improvements. (3). Organisational processes, e.g. a systematic use of external reviewers in different stages of a project. Keywords: Cost overruns, Infrastructure projects, Policy measures
 
Publisher UTS ePRESS
 
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Date 2014-09-13
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer reviewed invited commentry
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Format application/pdf
 
Identifier http://epress.lib.uts.edu.au/journals/index.php/AJCEB/article/view/4151
10.5130/AJCEB.v14i3.4151
 
Source Construction Economics and Building; Vol 14, No 3 (2014): AJCEB; 74-85
2204-9029
 
Language eng
 
Relation http://epress.lib.uts.edu.au/journals/index.php/AJCEB/article/view/4151/4219
 
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Rights Copyright (c) 2014 Hans Lind, Fredrik Brunes
http://creativecommons.org/licenses/by/4.0