Article

Over Budget, Over Time, Over and Over Again

Bent Flyvbjerg

in The Oxford Handbook of Project Management

Published in print February 2011 | ISBN: 9780199563142
Published online May 2011 | | DOI: http://dx.doi.org/10.1093/oxfordhb/9780199563142.003.0014

Series: Oxford Handbooks in Business and Management

Over Budget, Over Time, Over and Over Again

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This article first lists the general characteristics of major publich projects and programmes. These projects are deeply problematic, because they produce failure upon failure. Most of the time this impacts people mainly in terms of financial losses, which is bad enough for taxpayers and other investors who fund major projects. But worse, particular groups, who are often already disadvantaged, are sometimes forced to carry a disproportionate share of negative environmental and social impacts from projects that do not even deliver the promised benefits. This article uncovers the deeper causes of cost overruns and benefit shortfalls. In addition, possible solutions to the problems are described.

Keywords: financial losses; major projects; taxpayers; social impacts; promised benefits; cost overruns; benefit shortfalls

Article.  9710 words. 

Subjects: Business and Management ; Business Strategy ; Operations Management

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