A blueprint for modern infrastructure delivery
Infrastructure provides the foundations for economies to grow and lives to improve.
It is nearly universally accepted that good infrastructure has significant benefits for the economy and peoples’ quality of life. The UK currently has an infrastructure pipeline of £600bn with a predicted annual spend of £65bn a year by 2030.
A recent study found that 80% of all large projects globally experience cost or programme overruns. The recent Bangkok metro project, for example, came in at 70% over its original budget.
This does not mean these projects were failures. If the primary outcome was to deliver to cost and time then they have failed, but if the outcome was regeneration or economic growth, then many of these projects could be a success. This is why having clarity over desired outcomes is so important.
According to our calculations for this report the world economy could be losing $1.5 trillion (£1.2tn) a year by 2030 due to the late delivery of major infrastructure projects. This is simply not good enough.
In this report we look at the different components that are crucial to the delivery of successful infrastructure projects. We ask key questions, including: how do we improve the odds of projects being delivered successfully? Why do so many projects become Frankenstein’s monsters? And, what can policymakers around the world do to help improve major infrastructure projects?