Megaprojects with Marion Terrill from Grattan Institute

<p>Multi-billion-dollar Megaprojects like Boston’s Big Dig and Brisbane’s Cross River Rail are more at risk of cost blowouts and failing to generate the benefits they expect than smaller infrastructure projects. <a href="https://grattan.edu.au/people/bio/marion-terrill/" target="_blank">Marion Terrill</a>, Transport & Cities Program Director at the Grattan Institute, explains why in a conversation with Economics Explored host Gene Tunny. Marion has recently co-authored a Grattan Institute report <a href="https://grattan.edu.au/report/the-rise-of-megaprojects-counting-the-costs/" target="_blank">The rise of megaprojects: counting the costs</a>.</p><p>Issues of discussion include:</p><ul><li>Why megaproject costs blow out (5:20)</li><li>Optimism bias (12:00)</li><li>What Nassim Nicholas Taleb wrote about megaprojects in <i>Antifragile</i> (17:15)</li><li>How we can improve infrastructure project selection and management (22:50)</li></ul>