Australia needs three big fixes to avoid more construction blowouts

Australia has a very poor track record of delivering megaprojects on time and on budget. This is a predictable consequence of a broken system.

Advisors at the beginning of this year Deloitte found that the cost of 13 publicly financed road, rail and energy projects had increased by $130 billion more than initial estimates.

Snowy Hydro 2.0, initially a renewable energy plan It cost 2 billion dollarsIt was planned to be completed by 2021. Instead still under constructionand the cost of some reports 22 billion dollars – Eleven times the original estimate.