Scandinavian Working Papers in Economics

Working papers in Transport Economics,
CTS - Centre for Transport Studies Stockholm (KTH and VTI)

No 2011:11: Cost overruns in Swedish transport projects

Mattias Lundberg (), Anchalee Jenpanitsub and Roger Pyddoke ()
Additional contact information
Mattias Lundberg: CTS, Postal: Centrum för Transportstudier (CTS), Teknikringen 10, 100 44 Stockholm, Sweden
Anchalee Jenpanitsub: Mass Rapid Transit Authority of Thailand, Postal: Centrum för Transportstudier (CTS), Teknikringen 10, 100 44 Stockholm, Sweden
Roger Pyddoke: VTI, Postal: Centrum för Transportstudier (CTS), Teknikringen 10, 100 44 Stockholm, Sweden

Abstract: Cost overrun of transport projects is one of the most important problems in transport planning. It also makes the result of the cost-benefit analyses uncertain, thus decreasing their usefulness for decision making. In recent years more emphasis has been put on improving cost calculations and reducing cost overruns, in Sweden and internationally. Still cost overruns have not decreased. We find that the average cost overrun in Swedish road projects is similar to other countries, while it is lower than in other countries for rail. Small projects (

Keywords: Cost overrun; cost estimates; actual costs; successive calculation; reference class forecasting

JEL-codes: R40; R42

16 pages, November 2, 2011

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CTS2011-11.pdf PDF-file 

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