Managing Megaprojects: Conceptual Framework and International Experience

The discussion paper analyzes international experience in megaproject management, identifying problems and delivery performance. The most important distortions are optimism bias and strategic misrepresentation. it explores the approaches of Norway and the United Kingdom. Both countries have strengthened the robustness of planning and appraisal for megaprojects and have established specific methods and institutional arrangements for these projects to strengthen governance and transparency. Finally, some lessons are put forward that could help other countries, especially in Latin America, when embarking on megaprojects.