Report for the Commission of Inquiry Respecting the Muskrat Falls Project

36 Pages Posted: 11 Oct 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: August 2018

Abstract

This report was commissioned by the Commission of Inquiry Respecting the Muskrat Falls Project to provide the national and international context in which the Muskrat Falls Project took place. The Commission asked for the report to cover three specific topics of questions: (1) What is the national and international context of the Muskrat Falls Project with regards to cost overrun and schedule overrun? (What are the typical cost and schedule overruns of hydro-electric dam projects? How do hydro-electric dams compare to other capital investment projects? How do Canadian projects compare to other countries?), (2) What are the causes and root causes of cost and schedule overruns? (3) What are recommendations, based on international experience and research into capital investment projects, to prevent cost and schedule overruns in hydro-electric dam projects and other capital investment projects?

Keywords: Hydroelectric Dams, Megaprojects, Cost Overrun, Schedule Overrun, Optimism Bias, Strategic Misrepresentation, Infrastructure, Capital Investment Projects, Canada, Muskrat Falls

Suggested Citation

Flyvbjerg, Bent and Budzier, Alexander, Report for the Commission of Inquiry Respecting the Muskrat Falls Project (August 2018). Available at SSRN: https://ssrn.com/abstract=3251965 or http://dx.doi.org/10.2139/ssrn.3251965

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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