  Back cover text: Megaprojects and Risk provides the first detailed
examination of the phenomenon of megaprojects. It is a fascinating 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 MPs, taxpayers and investors. The authors not only explore
the problems but also suggest practical solutions drawing on theory and hard,
scientific evidence from the several hundred projects in twenty nations that
illustrate the book. Accessibly written, it will be essential reading in its
field for students, scholars, planners, economists, auditors, politicians,
journalists and interested citizens.
