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Freakonomics Radio cover image

Why Your Projects Are Always Late — and What to Do About It (Ep. 323 Replay)

Freakonomics Radio

NOTE

Mega Projects Often Suffer From Overoptimism and Deception

The project exemplifies the pitfalls of mega transit projects, having cost $4.5 billion and being over budget by $700 million, while delivering only a fraction of the original plan: just two miles of tunnel and three new stations instead of eight and a half miles with 15 stations. This excessive overspending and missed deadlines can be attributed to a combination of unforeseen circumstances and intentional misrepresentation by decision-makers, primarily elected officials, who set unrealistic timelines and optimistic budgets without accountability for the project’s completion.

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