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The Economist recently reported that infrastructure spending is the largestit is ever been as a share of world GDP. With $22 trillion in projectedinvestments over the next ten years in emerging economies alone, the magazinecalls it the "biggest investment boom in history." The efficiency ofinfrastructure planning and execution is therefore particularly important atpresent. Unfortunately, the private sector, the public sector andprivate/public sector partnerships have a dismal record of delivering on largeinfrastructure cost and performance promises. This paper explains why and howto solve the problem.

Delusion and Deception in Large Infrastructure Projects: Two Models for Explaining and Preventing Executive Disaster