Cost–benefit Analysis, Planning and Innovation
Transport Economics, Management and Policy series
Edited by Hugo Priemus, Bent Flyvbjerg and Bert van Wee
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,...