Why Capital Programs Fail Before Construction Even Starts

For many organizations, the success or failure of a capital program is often decided long before construction begins. While the industry tends to focus on execution challenges in the field, the reality is that many of the biggest risks are introduced much earlier, during planning, governance setup, and delivery strategy decisions. In this episode, we sit down with Arthur Terechtchouk, Partner, Capital Advisory & Transformation at Superset Infrastructure, to explore why capital programs struggle to meet expectations and what owners and project leaders can do differently. Drawing from his experience advising on large-scale infrastructure and nuclear programs, Arthur shares insights into how early-stage decisions shape outcomes across the entire lifecycle of a project. We discuss where misalignment typically occurs between stakeholders, how governance and delivery models influence performance, and why many organizations underestimate the complexity of managing risk at scale. We also explore what leading owners are doing differently to improve predictability, accountability, and overall program success. Whether you are an owner, program leader, or part of a project delivery team, this conversation offers a practical look at what drives success in today's most complex capital programs.