Print Email Facebook Twitter Cost Overruns in Large-scale Transportation Infrastructure Projects: Explanations and Their Theoretical Embeddedness Title Cost Overruns in Large-scale Transportation Infrastructure Projects: Explanations and Their Theoretical Embeddedness Author Cantarelli, C.C. Flyvbjerg, B. Molin, E.J.E. Van Wee, B. Faculty Technology, Policy and Management Department Infrastructures, Systems and Services Date 2010-03-08 Abstract Managing large-scale transportation infrastructure projects is difficult due to frequent misinformation about the costs which results in large cost overruns that often threaten the overall project viability. This paper investigates the explanations for cost overruns that are given in the literature. Overall, four categories of explanations can be distinguished: technical, economic, psychological, and political. Political explanations have been seen to be the most dominant explanations for cost overruns. Agency theory is considered the most interesting for political explanations and an eclectic theory is also considered possible. Non-political explanations are diverse in character, therefore a range of different theories (including rational choice theory and prospect theory), depending on the kind of explanation is considered more appropriate than one all-embracing theory. Subject cost overrunsexplanationslarge-scale projectstheoretical embeddednesstransportation infrastructure To reference this document use: http://resolver.tudelft.nl/uuid:09a37ad4-faeb-459f-b311-e44ed0026419 ISSN 1567-7141 Source European Journal of Transport and Infrastructure Research (EJTIR), 10 (1), 2010 Part of collection Institutional Repository Document type journal article Rights (c) 2010 The Author(s) Files PDF Cantarelli_2010.pdf 163.9 KB Close viewer /islandora/object/uuid:09a37ad4-faeb-459f-b311-e44ed0026419/datastream/OBJ/view