Delusion, deception,and corruption in major infrastructure projects: Causes, consequences, cures.

Flyvbjerg, Bent and Molloy, Eamonn (2011) Delusion, deception,and corruption in major infrastructure projects: Causes, consequences, cures. In: Rose-Ackerman, Susan and Soreide, Tina, (eds.) International Handbook on the Economics of Corruption. Edward Elgar, pp. 81-107.

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Abstract

The successful delivery of major infrastructure projects is increasingly vital to the global economy, with an estimated $22 trillion in projected investments to be spent in emerging economies alone (The Economist, June 7, 2008). Projected benefits include employment, the purchase of domestic inputs, improvements in productivity and competitiveness as a consequence of lower producer costs, provision of higher quality services to consumers, and environmental benefits arising from the use of new environmentally sound technologies (Helm, 2008). Yet, the track record for delivery of major infrastructure projects is poor, typically characterized by enormous cost overruns and benefits shortfalls (Merrow et al., 1988; Miller and Lessard, 2000; Flyvbjerg et al., 2003). Further, infrastructure is the third member of an ‘unholy trinity’ of high-risk sectors alongside arms and energy, suffering from substantial exposure to corruption (Transparency International, 2010). Global economic and development ambitions, therefore, rest on shaky foundations.

Item Type: Book Section
Keywords: Major projects; cost overrun; benefits shortfall; corruption
Subject(s): Project management
Centre: BT Centre for Major Programme Management
Date Deposited: 20 Dec 2011 15:48
Last Modified: 23 Oct 2015 14:07
URI: http://eureka.sbs.ox.ac.uk/id/eprint/2618

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