Why megaprojects like Dunedin Hospital rebuild overrun costs

Ask Vital Healthcare Property Trust fund manager Aaron Hockly what went wrong with the Dunedin Hospital project and his first answer is simple: megaprojects are hard.“Projects are really challenging, and the bigger the project, the more likely it is that there’ll be cost overruns or things will go wrong.”And Dunedin Hospital is far from the first megaproject to have blown out in price. Oxford Emeritus professor Bent Flyvbjerg built a career and published a book on such blowouts. In the past, Flyvbjerg has found cost...