15 of the world's biggest cost overrun projects
Bent Flyvbjerg, professor of major programme management at the university of Oxford's Said Business School, says overruns in the order of 50 per cent in real terms are common for major infrastructure projects. He says this is because it is not uncommon for demand and benefit forecasts to be wrong by 20-70 per cent compared with actual development. Public passenger rail and urban projects tent to have especially big overruns.
Here is the list,
36,917% cost overrun
Cuernavaca-Acapulco Toll Road (Mexico), 300% cost overrun.
Centre for Major Programme Management, University of Oxford's Said Business School; Mckinsey and the London School of Economics.
CImA's Financial Management Magazine, February 2013 publication