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Megaprojects and Risk

by Bent Flyvbjerg

"Megaprojects and Risk provides the first detailed examination of the phenomenon of megaprojects. It is an account of how the promoters of multibillion-dollar megaprojects systematically and self-servingly misinform parliaments, the public and the media in order to get projects approved and built. It shows, in unusual depth, how the formula for approval is an unhealthy cocktail of underestimated costs, overestimated revenues, undervalued environmental impacts and overvalued economic development effects. This results in projects that are extremely risky, but where the risk is concealed from...

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