"Speaking from experience, Bede Noonan, managing director of Acciona Australia said that governments and contractors needed to ensure that more work was being done in the early stages to avoid acrimonious disputes, such as the fall out from the Sydney CBD and South East light rail project, where “massive” amounts of money were spent that didn’t need to be spent.
“If you’re in that space it’s a bad space, the challenge is how to avoid that coming about,” he said.
Other panellists echoed these remarks, with Cantan noting that while there was pressure currently for projects to get into the construction phase to stimulate economic recovery, proper planning and investigation still needed to be done at the outset.
“A, make sure it’s the right project but, B, make sure that we’re setting out the feasibility appropriately, and then taking it out to market as a well-developed project.”
A real life example of a Government failure to be an informed buyer.
What is being done to ensure this sought of financial bottomless pit does not occur in the future?