Report for the Edinburgh Tram Inquiry

53 Pages Posted: 28 Mar 2018

See all articles by Bent Flyvbjerg

Bent Flyvbjerg

University of Oxford - Said Business School

Alexander Budzier

University of Oxford - Saïd Business School

Date Written: February 2018

Abstract

This report reviews the Edinburgh tram project’s risk management. Projects frequently overrun their cost and timelines and fall short on intended benefits. Cost, schedule, and benefit risk of projects need to be carefully considered to avoid this. The report describes and evaluates risk assessment and management for the Edinburgh tram. The report was produced as part of the Edinburgh Tram Inquiry.

Keywords: risk assessment, risk management, infrastructure, megaprojects, optimism bias, strategic misrepresentation, planning fallacy, behavioral science

Suggested Citation

Flyvbjerg, Bent and Budzier, Alexander, Report for the Edinburgh Tram Inquiry (February 2018). Available at SSRN: https://ssrn.com/abstract=3147659 or http://dx.doi.org/10.2139/ssrn.3147659

Bent Flyvbjerg (Contact Author)

University of Oxford - Said Business School ( email )

Park End Street
Oxford, OX1 1HP
Great Britain

Alexander Budzier

University of Oxford - Saïd Business School ( email )

Park End Street
Oxford, OX1 1HP
Great Britain

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