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Title: Underestimating Costs in Public Works Projects: Error or Lie?

Language: English

Type: Document

Nature: Website

Published: January 1, 2002

Region: Global

Country: Global / Non-Specific

Keywords: PPP Tools *, PPP Online Reference Guide **, PPP Basics ***, PPP Reference Guide

Document Link(s):

Document Summary:

This global study of 258 transport projects finds that, on average, actual costs were 28 percent higher than planned costs—65 percent higher for projects outside Europe and North America. The paper describes technical, psychological, and political explanations for this result.

Document Details:

Flyvbjerg, Bent, Mette K. Skamris Holm, and Søren L. Buhl. 2002. “Underestimating Costs in Public Works Project: Error or Lie?.” Journal of the American Planning Association 68(3) 279-295. [#2206]

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