A sectoral review of risks associated with major infrastructure projects

Infrastructure developments in sectors such as power, transport, telecommunication and process plants are undertaken in many parts of the world using either the conventional public-funded approach or some forms of privatised approach. Irrespective of the sources of funding, it is imperative to identify and understand the impact of the inherent risks in order to formulate appropriate risk management strategies to cope with them. Since a number of these projects have run into daunting risks resulting in their cancellation, serious delay and cost overruns, this paper attempts to draw lessons from them.