Lifting the veil.

J.J. Reilly documented in 2001 that a significant number of complex infrastructure projects substantially exceeded their budgets. He presented his findings at the March 2001 American Underground Construction Conference. Fryvbjerg published his results in “Underestimating Costs in Public Works, Error or Lie?” in the summer 2002 American Planning Association Journal. Flyvbjerg reported on the cost performance of 258 international transportation infrastructure projects, with the following results. Cost comparisons are from the published cost at decision to proceed— normally related to the Final Environmental Impact Statement or Record of Decision in the U.S.—to the final delivered cost.