Category: Speculation

Dissatisfaction guaranteed or your money *not* back: Part 6, A state of emergency to secure additional funding

19 September, 2016 (09:00) | Bent Flyvbjerg, budgeting, China, Dictators, Housing, Infrastructure, megaprojects, Olympics, Public finance, public works, Speculation | No comments

  By: David A.  Smith   [Continued from the preceding Part 1, Part 2, Part 3, Part 4, and Part 5.]   This week’s plausible apology For last week’s blogging absence   Just as I was turning back to this blog post, which I have found completely absorbing, a major AHI contract took an unexpected […]

Dissatisfaction guaranteed or your money *not* back: Part 5, Not so much budget as down payment

9 September, 2016 (08:31) | Bent Flyvbjerg, budgeting, China, Dictators, Housing, Infrastructure, megaprojects, Olympics, Public finance, public works, Speculation | No comments

  By: David A.  Smith   [Continued from yesterday’s Part 4 and the preceding Part 1, Part 2, and Part 3.]   Having established that the Olympics are the worst financial performers of any mega-, giga-, or tera-projects (not that any Olympics has yet reached teraproject size, thank goodness), we have to find some features […]

Dissatisfaction guaranteed or your money *not* back: Part 4, Average practice is a disaster

8 September, 2016 (09:00) | Bent Flyvbjerg, budgeting, China, Dictators, Housing, Infrastructure, megaprojects, Olympics, Public finance, public works, Speculation | No comments

  By: David A.  Smith   [Continued from yesterday’s Part 3 and the preceding Part 1 and Part 2.]   Among the oddest pleasures of blogging is the enforced hobbyist pursuit of curiosity no matter the corners into which it wriggles itself, and then presenting these for the reader’s edification, shock, irritation, or just plain […]

Dissatisfaction guaranteed or your money *not* back: Part 3, Between spin and outright lying

7 September, 2016 (09:00) | Bent Flyvbjerg, budgeting, China, Dictators, Housing, Infrastructure, megaprojects, Olympics, Public finance, public works, Speculation | No comments

  By: David A.  Smith   [Continued from the preceding Part 1 and Part 2.]   As we saw yesterday, not only has every Olympic Games since 1960 run over its original budget – by an average of 156%, more than 2½ times – but the certainty of overruns has done little to dissuade starry-eyed […]

Dissatisfaction guaranteed or your money *not* back: Part 2, A legally binding agreement

6 September, 2016 (09:00) | Bent Flyvbjerg, budgeting, China, Dictators, Housing, Infrastructure, megaprojects, Olympics, Public finance, public works, Speculation | No comments

  By: David A.  Smith   [Continued from last week’s Part 1.]   In Part 1 (remember it?) of this multi-part post, we started from the observed fact that every Olympic Games has run over its budget, with the typical games costing its host city 2½ times the original projections, which invited the logical question […]