Megaprojects and Risk: An Anatomy of Ambition

Book Description

Promoters of multi-billion dollar land-use development megaprojects systematically misinform parliaments, the public and the media in order to get them approved and built. This book not only explores these issues, but suggests practical solutions drawing on theory and scientific evidence from the several hundred projects in twenty nations and five continents. It is of interest to students, scholars, planners, economists, auditors, politicians and concerned citizens.

Customer Reviews:

Packed with Knowledge!.......2004-03-02

Every once in a while a little book comes along that, while small in size, carries sufficient intellectual weight to strike the body politic between the eyes, thereby getting its collective attention. This may be one such book. It offers a realistic look at megaprojects - those major infrastructure endeavors that span vast bodies of water, dam natural resources to generate energy and extend rail lines to previously unreachable regions - and compares the promises of these projects to what they actually deliver. The report card isn't very good. Cost overruns are typically 25% to 100%, and sometimes 200% or more. Worse yet, studies show that the public tends to use megaprojects - be they airports or subway systems - only a fraction of the amount predicted. We strongly recommends this book to politicians, legislators and anyone who wants to know the truth behind these huge infrastructure projects, as well as to CEOs, CFOs, project managers and risk officers in the private sector - this applies to your projects, even if there is a difference of scale.

A fool, his money and the bridge that parted them..............2003-09-13

I am the first amazon.com reviewer of this short, but important book. It concerns me that this might reflect a diminished U.S. readership. That would be unfortunate. Professor Bent Flyvbjerg and his colleagues have written a book of significance to taxpayers everywhere. It's apparent that they have written this book largely for the policy-maker; yet, make no mistake about it: the ordinary taxpayer has a major stake in this book's message. The central characters in Megaprojects and Risk are three large-scale, European transportation projects: the Chunnel, the Great Belt and the Oresund. American readers unfamilar with these names (the chunnel connecting London and Paris is perhaps the most recognizable to American readers) will nonetheless recognize familiar features. Specifically, they will find project costs that exceed estimates, and revenue inflows that are below projections. The traits are not unique to these projects. In fact, cost over-runs and revenue disappointments are a familiar global refrain, according to these authors. In spite of this, the number and scale of infrastructure projects continues to grow, forming what they call the megaproject paradox. The book is stronger on documenting problems, including the lack of project post-audits, than on providing solutions. I think they have correctly identified the problem -- the lack of accountability throughout the project life-cycle -- but their solution, which largely involves ensuring a healthy segment of private capital not supported by state guarantees, together with more attention to genuine risk assessment, falls short of the mark. The risk assessment tools are firmly established and largely well-understood (Monte Carlo simulation packages are increasingly available). So is the "moral hazard" problem that rears its ugly head when projects (in this case) are "over-insured." The difficulty, which they acknowledge, is that the political interplay between state, private interests and NGOs are decisive in determining whether and to what extent the appropriate risk assessment and risk management tools are used.

This problem is inherent in the beast. Policy-makers would love for the private sector to shoulder the risk, but may not be willing to permit a commensurate return. Private players, just as understandably, are apt to seek insurance of one kind or another on the downside. The best medicine, and one that this book delivers admirably, is simply to raise our awareness of the track record from the start.

Book Description

An environmental site assessment performed now will reduce the possibilities for liability claims and mandatory cleanup later. This Second Edition approaches environmental site assessment as an ever-evolving process, providing updated information on regulatory definitions, environmental regulations, and federal sources of information. Like the previous edition, this book allows the reader to

The Next Catastrophe: Reducing Our Vulnerabilities to Natural, Industrial, and Terrorist Disasters

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Too much politics, too little thoughtful analysis

The Next Catastrophe: Reducing Our Vulnerabilities to Natural, Industrial, and Terrorist Disasters
Charles Perrow
Manufacturer: Princeton University Press
ProductGroup: Book
Binding: Hardcover

Disaster Relief | Current Events | Nonfiction | Subjects | Books

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ASIN: 0691129975

Book Description

Charles Perrow is famous worldwide for his ideas about normal accidents, the notion that multiple and unexpected failures--catastrophes waiting to happen--are built into our society's complex systems. In The Next Catastrophe, he offers crucial insights into how to make us safer, proposing a bold new way of thinking about disaster preparedness.

Perrow argues that rather than laying exclusive emphasis on protecting targets, we should reduce their size to minimize damage and diminish their attractiveness to terrorists. He focuses on three causes of disaster--natural, organizational, and deliberate--and shows that our best hope lies in the deconcentration of high-risk populations, corporate power, and critical infrastructures such as electric energy, computer systems, and the chemical and food industries. Perrow reveals how the threat of catastrophe is on the rise, whether from terrorism, natural disasters, or industrial accidents. Along the way, he gives us the first comprehensive history of FEMA and the Department of Homeland Security and examines why these agencies are so ill equipped to protect us.

The Next Catastrophe is a penetrating reassessment of the very real dangers we face today and what we must do to confront them. Written in a highly accessible style by a renowned systems-behavior expert, this book is essential reading for the twenty-first century. The events of September 11 and Hurricane Katrina--and the devastating human toll they wrought--were only the beginning. When the next big disaster comes, will we be ready?

Customer Reviews:

Too much politics, too little thoughtful analysis.......2007-05-17

Perrow's book, Normal Accidents, is a classic in its field. I purchased The Next Catastrophe assuming that it would be a worthy successor. Boy, was I disappointed. Instead of careful argumentation, Perrow gives political commentary, based on nothing more than his own biases and preconceived notions. Normal Accidents was marred in a few places by clear political bias, but the overall analysis of the book was so well-done that overlooking those few places was easy. This is not true of The Next Catastrophe, in which good analysis and argumentation is hard to find amidst the diatribe. If you are interested in knowing about Perrow's political views, buy this book; otherwise, do not waste your money.

The Economics of Natural Hazards, 2 Volume Set (International Library of Critical Writings in Economics)

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The Economics of Natural Hazards, 2 Volume Set (International Library of Critical Writings in Economics)

Manufacturer: Edward Elgar Publishing
ProductGroup: Book
Binding: Hardcover

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ASIN: 1840648155

Statistical Procedures for Analysis of Environmental Monitoring Data and Risk Assessment (Ptr Environmental Management and Engineering Series , Vol 3)

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Statistical Procedures for Analysis of Environmental Monitoring Data and Risk Assessment (Ptr Environmental Management and Engineering Series , Vol 3)
Edward A. McBean , and Frank Rovers
Manufacturer: Prentice Hall PTR
ProductGroup: Book
Binding: Hardcover

Environmental Science | Earth Sciences | Science | Subjects | Books

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ASIN: 0136750184

Bargaining With Uncertainty: Decision-Making in Public Health, Technologial Safety, and Environmental Quality

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Bargaining With Uncertainty: Decision-Making in Public Health, Technologial Safety, and Environmental Quality
Merrie G. Klapp
Manufacturer: Auburn House
ProductGroup: Book
Binding: Hardcover

Management | Management & Leadership | Business & Investing | Subjects | Books

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ASIN: 0865690464

Book Description

In this intriguing volume, Merrie G. Klapp explains how regulatory decisions in such crucial areas as public health, technological safety, and environmental quality are molded and recast. She finds that "scientific uncertainty" is a key factor, with agencies, interest groups, Congress, and the courts attempting to shift responsibility of proof or varying the standard of proof according to the pressures brought to bear on the issue. In general, Professor Klapp finds that when citizens or industrialists organize to protest a regulatory decision and when the legislature or the courts take scientific uncertainty into account, then the initial regulatory decision is changed. By contrast with the United States, where scientific uncertainty is used as a public resource and rationale for change, in France and Britain scientific uncertainty is treated as a private resource. French and British scientists do not treat regulatory decisions as opportunities to reveal scientific uncertainty to the public--instead, discussions of uncertainties are held behind "closed doors" and, when reports are made to the public about regulatory decisions, scientific information is presented as if it were certain. Bargaining with Uncertainty will be a provocative analysis to those scholars and researchers concerned with the making of public policy as well as those concerned with risk assessment in public health, the environment, and technology.

Fundamentals of Risk Analysis and Risk Management

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Fundamentals of Risk Analysis and Risk Management

Manufacturer: CRC
ProductGroup: Book
Binding: Hardcover

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ASIN: 1566701309

Book Description

This book bridges the gap between the many different disciplines used in applications of risk analysis to real world problems. Contributed by some of the world's leading experts, it creates a common information base and language for all risk analysis practitioners, risk managers, and decision makers. Valuable as both a reference for practitioners and a comprehensive textbook for students, Fundamentals of Risk Analysis and Risk Management is a unique contribution to the field. Its broad coverage ranges from basic theory of risk analysis to practical applications, risk perception, legal and political issues, and risk management.

Energy Security: Managing Risk in a Dynamic Legal and Regulatory Environment

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Energy Security: Managing Risk in a Dynamic Legal and Regulatory Environment

Manufacturer: Oxford University Press, USA
ProductGroup: Book
Binding: Hardcover

General | Popular Economics | Business & Investing | Subjects | Books

Microeconomics | Economics | Business & Investing | Subjects | Books

Privatization | Economics | Business & Investing | Subjects | Books

Oil & Energy | Industries & Professions | Business & Investing | Subjects | Books

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ASIN: 0199271615

Book Description

This volume examines energy security in a privatized, liberalized, and increasingly global energy market, in which the concept of sustainability has developed together with a higher awareness of environmental issues, but where the potential for supply disruptions, price fluctuation, and threats to infrastructure safety must also be considered. Part I commences with an essential introductory chapter which defines energy security and sets forth the key issues and themes of the book. There then follow several cross-cutting chapters which include sceptical analysis of energy security claims from an environmental perspective and a broader geopolitical analysis of energy security. Part II examines a wide variety of international, regional, and national approaches to energy security issues. Energy security concerns differ considerably from country to country, however most of the chapters examiming particular nations provide an economic and historical context of their energy security concerns, followed by a detailed analysis of the legal provisions relating to each of the main energy sectors (oil, gas, coal, electricity, nuclear, and renewable energies). This entails examination of regulation, organization, and planning for security and other purposes. In a number of cases, energy security law is shaped by other factors such as market liberalization, environmental protection, and competition policy. Part III comprises two final chapters, the first contrasting the various national and regional approaches and analysing cross-cutting issues, whilst the concluding chapter forecasts future trends in the legal regulation of energy security.

Average customer rating:

M&A Understanding
Yes, this is a very focused topic, but it is a great book!
Book is an excellent resource for anyone serious about M&A.
Book is an excellent resource for anyone serious about M&A.

The Art of M&A Due Diligence
Alexandra Reed Lajoux , and Charles M. Elson
Manufacturer: McGraw-Hill
ProductGroup: Book
Binding: Hardcover

Corporate Finance | Finance | Business & Investing | Subjects | Books

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ASIN: 0786311509

Book Description

The coauthor of the bestselling The Art of M&A: A Merger Acquisition Buyout Guide is back with a question and answer resource that focuses on the msot critical steps in the M&A process. Drawing on the experience of 100 experts, Lajoux shows non-lawyers how to navigate due diligence and how to uncover data that can break a deal. Featuring global perspectives and special insights for small businesses, manufacturers, and service companies, this primer is essential for everyone involved in M&As.

Customer Reviews:

M&A Understanding.......2007-10-05

This is a must for the articulate and must be read carefully, consistently or the extensiveness and expertise will cause one to re-read excerpts. Forwarning: create word document to capture the depth of the content to enable review of materials. The book is precise and very well organized. Only one area of weakness in material is more detail regarding corporate minutes. Unless you have been a corporate secretary and done this kind of work you won't grasp the critical issues in doing acquisitions and questions to seller. I do M&A-well worth the money.

Yes, this is a very focused topic, but it is a great book!.......2002-07-03

When purchasing a company you need to know what to look for and where to look for it and what it is you are looking at when you get the information you asked for.

If you are selling your company you need to know what someone SHOULD be looking for, where they will look for it, and the kinds of conclusions they should be drawing from what they are seeing.

This book is an incredibly valuable resource in this process. It is organized very logically and is a series of questions and answers so you can hop around to the information you need for the moment. However, it is also written in such a lively manner that it is easy to read from beginning to end. I happen to be fascinated by this topic and think this is an incredibly helpful handbook.

I think that the way you conduct due dilligence says a lot about your chances of success with an acquisition. And I also think that if someone is trying to buy you, you can tell a lot about them by what they want to know and the conclusions they draw from what they see. In either case it behooves you to invest time and a couple of books in a book like this. Well, in this book.

Book is an excellent resource for anyone serious about M&A........2000-09-29

Alexandra Reed LaJoux has done it again. Her most recent book on "The Art of M&A Due Diligence" is a valuable tool for the seasoned practitioner as well as the neophyte. She and her co-author Charles Elson effectively combine the big picture with relevant detail so that the reader has a clear understanding of not only the critical concepts but of the process of "due diligence." I found the chapter dedicated to "transactional due diligence" particularly useful. I would recommend this book to anyone serious about transactional work, either as a lawyer, investment banker, or businessperson.

Book is an excellent resource for anyone serious about M&A........2000-09-29

Financial Reporting of Environmental Liabilities and Risks after Sarbanes-Oxley

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The Bible for Environmental Financial Reporting
Must Buy for Environmental Lawyers
Learn quickly about this very complex topic
Top Notch

Financial Reporting of Environmental Liabilities and Risks after Sarbanes-Oxley
C. Gregory Rogers
Manufacturer: Wiley
ProductGroup: Book
Binding: Hardcover

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ASIN: 0471717436

Book Description

Financial Reporting of Environmental Liabilities and Risks is a complete guide to developing the underlying business systems to successfully report environmental matters in audited financial statements and reports filed with the Securities Exchange Commission (SEC). It sets forth relevant reporting and internal control standards and discusses important issues affecting reporting entities, accountants, lawyers, and environmental professionals.

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Customer Reviews:

The Bible for Environmental Financial Reporting.......2006-06-09

Before I read Greg Rogers book, I thought accountants were mere number crunchers and that the lion's share of the crunching would eventually be performed by a sophisticated software package-- or at least people in India. The happy truth (for accountants, anyway,) is that accounting is an inherently SUBJECTIVE (and, therefore, not highly-outsourcable discipline.) A less happy (and somewhat scary) truth is that I actually found Rogers' treatment of accounting fascinating. Yes, it may be that I need to get a life, but this book is a must-read for anyone who wants to excel in the environmental industry.

As a testament to the readability of the book, I will share a short anecdote. In preparation for a presentation that I was to give at a large accounting firm in New Jersey on behalf of my environmental consulting company(Hydrotechnology Consultants, Inc.), I asked my assistant to order Rogers' book on Amazon. She unwittingly requested shipping via media mail (a.k.a. snail mail.) As the date for the seminar approached, she assured me that the book was scheduled to arrive "any day." It was two days before the seminar and the book had apparently taken a detour to media mail hell. I told her that she needed to secure the book for me by the next day or invest in a warm hat and a pair of gloves-- because it tends to get rather cold in the unemployment line. In desperation, she called Greg Rogers and begged him to ship the book overnight. Greg took pity on her plight and shipped the book for morning delivery-- leaving me exactly one day to read the book, digest its contents and regurgitate it to an audience of accountants. To make a long story short, the presentation went off without a hitch. The accountants were highly impressed with my knowledge of environmental accounting, but seemed somewhat uncomfortable with my level of enthusiasm. Therefore, I offer this advice to Greg Rogers: place a label on the book cover which reads, "Caution: Contents May Shock and Awe!"

Must Buy for Environmental Lawyers.......2006-01-30

I have been an environmental lawyer for over 20 years and say without hestitation that this is the best single volume book on SEC and Environmental Disclosure that I have ever read. Other books explain how accounting principles operate but Greg Rogers not only easily dissects these complex concepts in a way that is easily understandable to lawyers without any financial or accounting background but also illustrates their application to environmental issues. You will feel like an expert after reading this book.

Learn quickly about this very complex topic.......2005-11-23

This books pulls together brilliantly the complexities of the multi-disciplinary challenges of reporting environmental liabilities after Sarbanes-Oxley and FIN 47.

All other books and papers I read are focused on one angle of the topic, looking at environmental liabilities in just one dimension. This book saves hours of study and research, all work is done for the reader. Quick read, logically structured.

Top Notch.......2005-10-10

Finally, someone got it right. This might be the most important book written about environmental management in years.

New accounting standards will feed environmental management into the teeth of Sarbanes-Oxley. Readers get all the information they need in a format that is accessible to a wide variety of professional disciplines.

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