Published: Građevinar 74 (2022) 3
Paper type: Subject review
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Relationship between costs and perceptions of infrastructure projects
Abstract
Large infrastructure projects are forerunners of economic trends, change the structure of society, affect economic growth, and at the same time are exposed to strong criticism and negative perception. Complex circumstances make it almost inevitable to exceed costs ranging from a few percent to huge values of 200 % or 300 %. The public does not recognize the complexity of the issue, which often makes the negative perception present unjustified and creates pressure on decision makers. By harmonizing the methods of calculating overdrafts, standardization of terms and records, public institutions are encouraged to systematically limit the unavailability, non-transparency and inconsistency of data on project implementation. This opens space for the possibility of comparing experiences and reducing the negative perception of infrastructure investments.
Keywordscost overruns, infrastructure projects, estimated costs, reasons for overruns, estimates
