Delay in project implementation

The problems of project implementation do not greatly differ between private and public projects. Private projects may experience greater difficulty in obtaining approvals and allocations, especially of foreign exchange, but public projects may suffer more from organizational confusion and delays in decisions. Projects, particularly those on a large scale, can upset a development programme or involve costs which, when excessive, can disturb a national budget. Such projects also represent the most visible sector of industry, and the most politically dangerous if mishandled. Delays may be due to oversights in project planning, causing delays in construction, or to poor contracting procedures which lead to inefficient and costly start-ups. The costs of such delays arise from the tied-up capital, the loss of earning opportunity and the immobilization of scarce foreign exchange.