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Cost overruns in Swedish transport projects

Author

Listed:
  • Lundberg, Mattias

    () (CTS)

  • Jenpanitsub, Anchalee

    (Mass Rapid Transit Authority of Thailand)

  • Pyddoke, Roger

    () (VTI)

Abstract

Cost overrun of transport projects is one of the most important problems in transport planning. It also makes the result of the cost-benefit analyses uncertain, thus decreasing their usefulness for decision making. In recent years more emphasis has been put on improving cost calculations and reducing cost overruns, in Sweden and internationally. Still cost overruns have not decreased. We find that the average cost overrun in Swedish road projects is similar to other countries, while it is lower than in other countries for rail. Small projects (

Suggested Citation

  • Lundberg, Mattias & Jenpanitsub, Anchalee & Pyddoke, Roger, 2011. "Cost overruns in Swedish transport projects," Working papers in Transport Economics 2011:11, CTS - Centre for Transport Studies Stockholm (KTH and VTI).
  • Handle: RePEc:hhs:ctswps:2011_011
    as

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    File URL: http://www.transportportal.se/SWoPEc/CTS2011-11.pdf
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    References listed on IDEAS

    as
    1. Odeck, James, 2004. "Cost overruns in road construction--what are their sizes and determinants?," Transport Policy, Elsevier, vol. 11(1), pages 43-53, January.
    2. Ram Singh, 2009. "Delays and Cost Overruns in Infrastructure Projects -- An Enquiry into Extents, Causes and Remedies," Working papers 181, Centre for Development Economics, Delhi School of Economics.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Eliasson, Jonas & Fosgerau, Mogens, 2013. "Optimism bias in project appraisal: deception or selection?," Working papers in Transport Economics 2013:6, CTS - Centre for Transport Studies Stockholm (KTH and VTI).
    2. Miranda Sarmento, J.J., 2014. "Public private partnerships," Other publications TiSEM c7d4c978-234c-4f88-83ed-1, Tilburg University, School of Economics and Management.
    3. Eliasson, Jonas & Fosgerau, Mogens, 2013. "Cost overruns and demand shortfalls – Deception or selection?," Transportation Research Part B: Methodological, Elsevier, vol. 57(C), pages 105-113.
    4. Odeck, James, 2014. "Do reforms reduce the magnitudes of cost overruns in road projects? Statistical evidence from Norway," Transportation Research Part A: Policy and Practice, Elsevier, vol. 65(C), pages 68-79.
    5. Asplund, Disa & Eliasson, Jonas, 2016. "Does uncertainty make cost-benefit analyses pointless?," Transportation Research Part A: Policy and Practice, Elsevier, vol. 92(C), pages 195-205.
    6. repec:eee:transa:v:99:y:2017:i:c:p:14-29 is not listed on IDEAS

    More about this item

    Keywords

    Cost overrun; cost estimates; actual costs; successive calculation; reference class forecasting;

    JEL classification:

    • R40 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - General
    • R42 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government and Private Investment Analysis; Road Maintenance; Transportation Planning

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