Futureproofing Complex Infrastructure Projects Using Real Options

Existing project performance measures in the infrastructure sector focus on construction (time, cost, quality) and pay less attention to lifecycle performance. The consequence of this shortsighted perspective is that decisions taken early lead poorer solutions. Infrastructure should last centuries quickly becomes inadequate, leading costly reconfigurations. Real options reasoning can help managers overcome issue by unlocking thinking complex projects. enables explore value flexibility employing futureproofing strategies during development process. From analysis interviews with experts healthcare infrastructure, we observed projects led obsolescence were developed using tight design briefs focused capital targets, decision-makers invested concept futureproofing. On other hand, futureproofed followed a loosely defined brief shifted toward whole-life targets. We make five recommendations for infrastructure.