Operating risk: the Achilles' heel of major infrastructure projects

The civil engineering profession has significantly improved its ability to deliver major infrastructure projects on time and within budget. However, the operating performance of such projects leaves more to be desired. This paper examines the nature and scale of operating risks and sets out to explain why operating performance seldom matches expectations. It looks in particular at new-build urban rail schemes, where operating outcomes are found to differ significantly and systemically from expectations, usually for the worse. It concludes that a radical change in approach for such schemes is needed.