Evaluating Infrastructure Projects under Risk and Uncertainty: A Checklist of Issues

type="main" xml:lang="en"> <title type="main">Abstract</title> <p>The implications of risk, investment irreversibility and learning for infrastructure project assessment are considered, using investment in desalination as a case study. Both qualitative insights from ‘real options’ approaches and arguments based on policy-maker risk aversion to investment appraisal are summarised. A checklist of key issues is presented. Remarks are also made about how pure uncertainty and gross ignorance can influence policy determination. </section>