IDEAS home Printed from
   My bibliography  Save this paper

Report for the Commission of Inquiry Respecting the Muskrat Falls Project


  • Bent Flyvbjerg
  • Alexander Budzier


This report was commissioned by the Commission of Inquiry Respecting the Muskrat Falls Project to provide the national and international context in which the Muskrat Falls Project took place. The Commission asked for the report to cover three specific topics of questions: (1) What is the national and international context of the Muskrat Falls Project with regards to cost overrun and schedule overrun? (What are the typical cost and schedule overruns of hydro-electric dam projects? How do hydro-electric dams compare to other capital investment projects? How do Canadian projects compare to other countries?), (2) What are the causes and root causes of cost and schedule overruns? (3) What are recommendations, based on international experience and research into capital investment projects, to prevent cost and schedule overruns in hydro-electric dam projects and other capital investment projects? Keywords: Hydroelectric Dams, Megaprojects, Cost Overrun, Schedule Overrun, Optimism Bias, Strategic Misrepresentation, Infrastructure, Capital Investment Projects, Canada, Muskrat Falls

Suggested Citation

  • Bent Flyvbjerg & Alexander Budzier, 2019. "Report for the Commission of Inquiry Respecting the Muskrat Falls Project," Papers 1901.03698,
  • Handle: RePEc:arx:papers:1901.03698

    Download full text from publisher

    File URL:
    File Function: Latest version
    Download Restriction: no

    References listed on IDEAS

    1. Bent Flyvbjerg, 2014. "What You Should Know About Megaprojects, and Why: An Overview," Papers 1409.0003,
    2. Ansar, Atif & Flyvbjerg, Bent & Budzier, Alexander & Lunn, Daniel, 2014. "Should we build more large dams? The actual costs of hydropower megaproject development," Energy Policy, Elsevier, vol. 69(C), pages 43-56.
    3. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
    4. Flyvbjerg, Bent, 2016. "The Fallacy of Beneficial Ignorance: A Test of Hirschman’s Hiding Hand," World Development, Elsevier, vol. 84(C), pages 176-189.
    5. Bent Flyvbjerg, 2013. "Quality Control and Due Diligence in Project Management: Getting Decisions Right by Taking the Outside View," Papers 1302.2544,
    Full references (including those not matched with items on IDEAS)

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:arx:papers:1901.03698. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (arXiv administrators). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.