The Oxford Handbook of Megaproject Management

Governing authorities across the globe are embarking upon major infrastructure projects, also known as megaprojects, at an astonishing pace. Local areas are proceeding partly in the quest for new or renewed prominence on the global stage, but also to improve the resiliency of existing critical infrastructure due to increasing hazards, extreme events and aging infrastructure. They proceed so even in the face of a “calamitous history of cost overruns”, overestimation of benefits and schedule delays (Flyvbjerg, 2018, pp. 11–12). Much is at stake because of direct project costs, indirect opportunity costs and impacts to society, including long-term claims on government budgets.