ABSTRACT
Large infrastructure projects are complex and risky ventures. They are subject to the vagaries of nature, politics, war, capital markets, technological advance, classical economic theory and human error. A large infrastructure project such as a hydroelectric power plant can often take the better part of a decade from the time a developer, utility or government makes a decision to develop a project until the time electrons are being agitated in its generators. It is probably fair to say that most infrastructure projects are never built. They crumble in the evaluation stage, usually for financial or political (not technological) reasons. Of those that make it through the feasibility stage, even fewer make it to construction, generally because they are unable to withstand the great expense and delay of permitting battles over location and environmental effects.
