This report has quantified how common cost overruns are, and how costly. It has also quantified the cost overrun risks of large projects and prematurely announced projects. These facts should come as no surprise to politicians, bureaucrats, or the industry.
Grattan Institute's 2016 report, Cost overruns in transport infrastructure, made recommendations that, had they been taken up, would have significantly ameliorated the problem Australia now faces. But with little having changed in the way projects have been selected, costed, and initiated, the most pressing challenge for state governments now is to deal with those projects that are already being built or about to begin.
This chapter recommends some immediate measures. Section 5.1 is about how to deal with projects that are currently under construction, and Section 5.2 is about how to deal with the suite of projects that governments have committed to building but have not yet commenced.