A decade later, by collecting data from 20 nations on five continents, Flyvbjerg had produced the first statistically significant analysis to show … [t]he vast majority of public works projects go drastically over budget and aren’t as well patronized as proponents claim. He also found that modelers didn’t seem to be improving their estimates over time; the scale of overruns remained relatively constant. Rail and highway projects are often the worst boondoggles, and they form the bulk of Flyvbjerg’s research. But other researchers have found dangerous overoptimism in all kinds of megaprojects….
An aerial view of