Complexities Inherent in Mega Infrastructure: The Challenges of Accurate Estimating.

Conference paper


Seidu, R.D, Ebohon, O., Kangwa, J., Ofori, G. and Young, B. (2021). Complexities Inherent in Mega Infrastructure: The Challenges of Accurate Estimating. Proceedings of Centre for the Integrated Delivery of the Built Environment (IDoBE) on Uncertainties in the Built Environment: How can we build a resilient future in the new normal?. . LSBU, London. UK 21 - 23 Nov 2021
AuthorsSeidu, R.D, Ebohon, O., Kangwa, J., Ofori, G. and Young, B.
TypeConference paper
Abstract

The amount of risk in mega infrastructure projects (MIPs) has undoubtedly contributed to the rising costs of MIPs and delays. Whether such projects are initially underestimated cannot be determined at the planning stage. Despite this, it is claimed that before any project risks are envisaged, the initial estimate is more often or likely to have been underestimated. An issue with underestimating MIPs can lead to many unrealistic expectations. Those expectations may lead to cost overrun which must have emanated from underestimating the risk variables that should have been covered with contingencies during the estimation stage.
The purpose of this study is to explore some recent headlines surrounding Crossrail and its many failures in meeting completion deadlines, with many components of the project far from completion at the due dates. This research will be a continuous study from previous research undertaking in Cost overruns and unmet deadlines in MIPs. The research aims to examine various literature to obtain an insight into some of the challenges affecting infrastructure project estimation. This is an area which has not been particularly delve into by many researchers who have concentrate their energy on the causative factors of delays and cost overrun. The discussion will help to highlight some of the difficulties and create the awareness for estimators, cost engineers, quantity surveyors and cost advisers, of what they would need when preparing initial cost estimates.

KeywordsCost overrun, Delays, Estimation, Infrastructure, Mega Project.
Year2021
Accepted author manuscript
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Open
Publication dates
Print22 Nov 2021
Publication process dates
Accepted07 Oct 2021
Deposited06 Jan 2022
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