Major Infrastructure Projects : Planning for Delivery (Introduction)

The global economy requires long lead times for new major infrastructure projects, and even though the current global economy is struggling, the world's population continues to grow. With this growth, infrastructure development and maintenance is set to become a focal point in the future. A strong infrastructure sector is vital for the development of a country's economy. Most governments in advanced and less advanced economies are well aware of the need to invest in major infrastructure projects, but many are facing enormous challenges in devoting sufficient capital resources. The current economic environment presents a potential dilemma: while budgets are extremely tight, failing to invest could jeopardise future tax revenues, as investment in major infrastructure in economies underpins national economies and has the potential to stimulate growth. As owners are seeking to achieve both capital effectiveness and operational effectiveness in their planning and delivery of major infrastructure projects they are increasingly seeking new project management and economic models. New approaches to the delivery of major infrastructure projects are fundamental when dealing with complex system interdependencies of specific physical systems, technical systems, environmental systems, economic systems and political challenges. The way in which all major infrastructure projects are being delivered will be forced to change because of the economic, social, political, technology and legislative environments. There is a suggestion that the primary reason for these changes has been the never ending drive for more efficiency and greater competitiveness, nationally and internationally. In this respect, there is a need to streamline the project delivery process of major infrastructure projects. Owners and policy makers need to refine their project management models to shrink the complexity associated with their major infrastructure projects. As demonstrated in this book, they will have to deepen their understanding of policy implementation and expectations of capital operational effectiveness at the portfolio level