megaproject

A megaproject is an extremely large-scale investment project. The European Cooperation in Science and Technology (COST) categorises megaprojects as having "extreme complexity (both in technical and human terms) and by a long record of poor delivery". Megaprojects attract a lot of public attention because of substantial impacts on communities, environment, and budgets, and many cost more than US$1 billion. Megaprojects can also be defined as "initiatives that are physical, very expensive, and public". Bent Flyvbjerg, a professor at the Saïd Business School of the University of Oxford says that globally, megaprojects make up 8 percent of total GDP.