Megaproject
A megaproject is an extraordinarily ambitious and complex endeavor that involves enormous scale, often requiring billions in investment and spanning years or decades to complete. These undertakings typically transform infrastructure, environments, or societies—such as building massive dams or space programs—and highlight the blend of innovation and risk in modern engineering, where success can drive economic growth but failure leads to significant overruns.
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According to research by Oxford professor Bent Flyvbjerg, over 90% of megaprojects worldwide exceed their initial budgets by an average of 50%, a pattern so common it's called the 'megaproject paradox'—yet these projects still proceed due to their potential for transformative benefits, like the Channel Tunnel, which connected Britain and France but cost nearly double its estimate.
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