Listen to next week’s u003cemu003e21CCu003c/emu003e podcast to find out what good megaproject leadership looks like
Megaprojects, writes Bent Flyvbjerg, a leading expert on the topic, “are large-scale, complex ventures that typically cost more than [$1bn (£778.6m)], take many years to build, involve multiple public and private stakeholders, are transformational, and impact millions of people”.
He also points out that 90% of them have cost overruns, and that greater-than-50% cost overruns are “not uncommon”.
And yet, right now, megaprojects are under way all over the world as countries and cities prepare for the future.
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