Cost overruns and delays in energy megaprojects: How big is big enough?

Power generation megaprojects are central in energy planning and policy. However, many megaprojects fail to deliver the scale and efficiency aspirations initially expected. The purpose of this paper is to estimate the probability distribution function of cost overruns and delays in the construction of power generation projects, with a particular focus on mega hydroelectric dams recently built in Brazil. Results show that construction costs were,...