Mega projects are mega risky
1 Jan
Megaprojects are the toast of this decade in India.
With financing becoming easier to obtain, and the government looking to push development (or is it industrialisation?) in a major way government and business are thinking big.
While conventional wisdom seems to suggest that economies of scale make this the only way to go, why do so many mega projects seem to fail (overruns in cost, time to completion or outright cancellation)?
Answer? The risks are often misrepresented or miscalculated…
MUST READ: Megaprojects and Risk (Book Excerpt)
Some interesting reading about these issues (and examples)…
25 power projects fail to materialise in Karnataka (via Rediff)
Consequences of Mega Projects (via JSTOR)
The real story of Dabhol (via Outlook)
Why mega-projects are falling apart (via Crainsnewyork)
Mega-projects: the changing politics of urban public investment (Book)
Bandra-Worli Sea Link: cost rose 6-fold to Rs1,600 crore new (via domain-b.com)
SEZs: Bumpy road to economic prosperity? (via The Hindu Business Line)
VisitorSpeak