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date: 20 October 2021

Abstract and Keywords

This chapter discusses the Norwegian governance regime for public megaprojects and the lessons learned. Governance regimes for major public investment projects comprise the processes and systems which the financing party must implement to ensure a successful investment. Such regimes typically include a regulatory framework, compliance with agreed objectives, and sound management and resolution of issues that may arise. The challenges in securing quality at entry include identification of a conceptual solution that is economically viable and relevant with respect to the needs and often conflicting priorities in society, avoiding underestimating costs, overestimating utility and making unrealistic and inconsistent assumptions, and securing essential planning data and adequate contract regimes. The Norwegian regime involves external quality assurance of key decision documents, and has given the government greater control over the total cost of its investment project portfolio. It also ensures that decisions regarding the choice of conceptual solution are based on a broad assessment of overall needs and goals, as well as alternative ways of achieving these goals.

Keywords: governance regimes, public investment, quality assurance, cost estimation, conceptual solution, regulatory framework, Norwegian

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