A blueprint for modern infrastructure delivery – an international view
Infrastructure’s role as an economic stimulus has long been recognised around the world. Mace’s own data, outlined in our updated Insights report, ‘A Blueprint for Modern Infrastructure Delivery’, shows that nearly US$4 trillion needs to be spent every year to meet the requirements of a growing and advancing global population.
Now, in the wake of coronavirus, infrastructure’s role in driving growth and prosperity is more pronounced than ever before.
According to the World Bank, the impact of lockdown measures and behavioural changes in response to Covid-19 caused the most severe contraction since the Second World War. So, with economies around the world hit hard by the impacts of the virus, and infrastructure positioned by many governments as a core part of the remedy, it is critical that we deliver our major projects and programmes more efficiently and more cost effectively.
The need to improve is stark. According to our data, up to 80% of large infrastructure schemes are delivered late and over budget, and then under-deliver on benefits. This inefficiency could cost taxpayers around the world US$900 billion over the next ten years.
To help address this challenge, our latest Insights paper builds on our findings from 2019 to offer an international view in the context of Covid-19 recovery. We look at what’s required to make major projects and programmes around the world successful and set out our recommendations for how to make sure this happens.