Decision-Making on Mega-Projects

Decision-Making on Mega-Projects

Cost–benefit Analysis, Planning and Innovation

Transport Economics, Management and Policy series

Edited by Hugo Priemus, Bent Flyvbjerg and Bert van Wee

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?

Chapter 1: Introduction: Scope of the Book

Hugo Priemus, Bent Flyvbjerg and Bert van Wee

Subjects: business and management, operations management, development studies, development economics, economics and finance, development economics, public sector economics, regional economics, transport, environment, transport, urban and regional studies, transport

Extract

Hugo Priemus, Bent Flyvbjerg and Bert van Wee 1.1 INTRODUCTION This book aims to enlarge understanding of the decision-making on megaprojects and to suggest recommendations for a more effective, efficient and democratic approach. This is not the first book published on this theme. But this is certainly a unique book, presenting an up-to-date and differentiated overview of the state of the art, based on experiences and visions of authors from Europe and North America. Traditionally, it has been the job of the government to develop, finance and – often – to manage major investment projects, which we have bundled together in this book under the blanket definition of ‘mega-project’. There are many successful mega-projects, most of which have taken some time to bear fruit – both directly and indirectly. However, there are also many potential problems, which could turn mega-projects into what Peter Hall labels ‘planning disasters’ (Hall, 1980). These problems include low transport performances, adverse environmental effects (landscape erosion, noise pollution, toxic emissions etc.), underestimated investment costs and disappointing returns. In this book, authors from different scientific disciplines address various aspects of decision-making in mega-projects, such as management characteristics and cost–benefit analysis, planning and decision-making, and innovation, competition and institutions. Many cases are drawn from different parts of the world, both best and worst practices. The subject matter is varied and highly differentiated, but certain questions crop up time and again. For example, how do we deal with protracted preparation processes,...