Cost of planning failure in mega projects
Recently the Union Cabinet, Govt. of India has approved a revised cost estimate (see Table-1 below) for all eight new IITs which were setup in the academic years 2008-2009. Originally projected/planned cost of setting up these 8 institutes of national importance was Rs. 6080 Cr. It was expected that these institutes would be fully functional from their respective independent campuses within about five years from starting. None of these newly setup eight IITs has been able to meet the originally planned cost and timelines for setting up needed infrastructure and start operating from the new campuses. Almost eight years into their inception, there are still some who are yet to move to their new campuses. Meanwhile, the cost of completing the work has risen by Rs. 7910 Cr to Rs. 13990 Cr as you can see from MHRD's press release ! One could have done a lot of public good with this amount of taxpayer's money . Table-1 (Revised estimated cost of IITs setup in 2008-09) Sou