Canada has an Investment Problem...or is it a Project Problem?

What makes a major infrastructure project investable? The recent investment summit in Toronto raised an interesting question: Is having a pipeline of ambitious projects enough to attract private capital? To tackle this, Riccardo, Melissa, David, and Evgenia reunite in the 11th installment of Uncharted Conversations. Together, the industry experts examine Canada's infrastructure investment ambitions and the challenges of turning promising projects into bankable opportunities. The group explores what investors actually need to see before committing capital, from predictable revenues and clear approval pathways to manageable risks and reliable project timelines.The conversation unpacks the tedious distinction between funding and investment, and the responsibilities of governments, project owners, and private investors in making infrastructure financially viable. While Canada has considerable institutional capital available, including its major pension funds, that money often makes it way to foreign rather than Canadian projects. The group considers whether the missing ingredient is better risk allocation, stronger public-sector commercial capabilities, or a willingness to relinquish some control in exchange for private investment. They also question whether every public infrastructure asset should be treated as an investment opportunity in the first place.From there, the discussion turns to a more ambitious idea: rethinking how infrastructure projects are packaged and delivered. Could governments coordinate entire programmes, combine enabling infrastructure, and manage shared risks in ways that attract new investment? A debate surfaces around the opportunities and challenges of this approach. Through devil’s advocate provocations and distinct perspectives, this episode challenges conventional thinking about infrastructure financing. It asks whether the path to greater investment might involve more than attracting money; it may call for fundamentally rethinking how projects are developed, structured, and delivered.Key takeawaysThe role of early project development in winning over the right investors;The tradeoffs involved in attracting private capital;Why Canada's considerable institutional investment capacity does not necessarily translate into investment in Canadian infrastructure;How governments could rethink the packaging and coordination of infrastructure assets to create more attractive investment opportunities;Whether private capital is necessary for successful major programmes, or simply one way to expand what governments can deliver.Quote“If ​you're ​going ​to ​innovate, someone's ​got ​to ​pay ​for ​it.” - Melissa Di MarcoThe conversation doesn’t stop here—connect and converse with our community via LinkedIn:Follow Navigating Major Programmes: https://www.linkedin.com/company/navigating-major-programmes/ Read Riccardo’s latest at www.riccardocosentino.com Follow Riccardo Cosentino: https://www.linkedin.com/in/cosentinoriccardo/ Follow Evgenia Jilina: https://www.linkedin.com/in/ejilina/ Follow David Ho: https://www.linkedin.com/in/davidtho-ontario/Follow Melissa Di Marco: https://www.linkedin.com/in/melissa-di-marco/

How far has digital transformation really come in the infrastructure industry, and where is it headed? Cristina Savian began her career in freeway infrastructure almost 30 years ago. Since then, she has transitioned through the industry to become an internationally sought-after digitization consultant. In this episode, she and Riccardo launch into a wide-ranging conversation about the evolution of digital tools, digital twins, and artificial intelligence. Their discussion explores how the collapse of Italy's Morandi Bridge in 2018 prompted Cristina to question why infrastructure failures could still happen despite decades of technological advancement. Her search for answers led her deep into digital twins and their potential to help owners understand, monitor, and manage physical assets. As the technology gained popularity, so did the hype. Cristina explains why digitalization should never be an end in itself, how the term digital twin has evolved, and the fallout from investing heavily in digital platforms without first defining the business problems they need to solve. From there, Riccardo and Cristina turn to AI and the next wave of industry transformation. While powerful new tools can make previously unimaginable analysis possible, their effectiveness depends on data quality, professional expertise, and thoughtful integration into existing systems. The exerts talk through the risks of relying on inaccurate outputs and the importance of understanding the tools rather than simply adopting them. Through real-world stories and envisioning a probable future, this episode highlights both the opportunities and responsibilities of digital transformation.Key takeaways:How early engagement with emerging technologies can lead to unexpected opportunities for professional growth;Why digitizing everything with low-quality data removes, rather than creates, value;How digital technology has transformed infrastructure design and delivery over the past three decades;The importance of identifying the business problem before implementing the digital solution;Why professionals need to understand the capabilities, limitations, and risks of the digital tools they use.Quote“[With AI] you can do so much…But the problem is if the data is not good…it is going to create the wrong answers.” - Cristina SavianThe conversation doesn’t stop here—connect and converse with our community via LinkedIn:Follow Navigating Major Programmes: https://www.linkedin.com/company/navigating-major-programmes/Read Riccardo’s latest at www.riccardocosentino.comFollow Riccardo Cosentino: https://www.linkedin.com/in/cosentinoriccardo/Follow Cristina Savian: https://www.linkedin.com/in/cristinasavian/ 

How much can we really trust artificial intelligence, and what happens when we apply it without understanding its limitations? Rob Pattison, lawyer, former Infrastructure Ontario Vice President, and current contract consultant, has a wealth of educated opinions on the topic. He and Riccardo sit down to discuss the promises and pitfalls of probabilistic computing, and its implications for regulated professions. Rob’s legal mind questions the assumption that increasingly capable technology will necessarily produce better outcomes. Instead, he argues, we need to examine how these tools perform in real-world situations, where they outperform human judgment, and where the risks (and costs) of relying on them outweigh the benefits.This discussion explores the distinction between using AI to support professional work and allowing it to replace the expertise previously earned from decades of learning and doing. From legal research and document review to engineering calculations and infrastructure design, Rob and Riccardo consider how accountability changes when professionals rely on systems whose reasoning cannot be fully inspected. They also examine the difference between human and machine intelligence and the role of biases and intuition in decision-making.This conversation looks ahead, contemplating the long-term consequences of widespread AI adoption. Rob and Riccardo also question the economics and the incentives driving LLM promotion. Ultimately, this episode sees two industry experts challenge listeners to look beyond impressive outputs and consider what responsible AI use demands of the human at the keyboard.Key takeawaysHow probabilistic computing challenges conventional expectations of accuracy, reliability, and professional judgment;Why accountability and liability remain essential considerations when using AI in regulated professions;Whether AI's apparent intelligence comes from better reasoning or the ability to persist at tasks humans cannot;Why the economics, incentives, and long-term costs of AI deserve as much scrutiny as its technological capabilities;How widespread AI adoption could affect the development of domain knowledge and professional expertise in future generations.Quote“The universe isn’t governed by logic; the universe is ultimately governed by intuition.” - Rob PattisonThe conversation doesn’t stop here—connect and converse with our community via LinkedIn:Follow Navigating Major Programmes: https://www.linkedin.com/company/navigating-major-programmes/Read Riccardo’s latest at www.riccardocosentino.comFollow Riccardo Cosentino: https://www.linkedin.com/in/cosentinoriccardo/Follow Rob Pattison: https://www.linkedin.com/in/robsdoor/

When delivering major projects, from buildings to city-wide events, safety is always paramount. Dorit Mason knows this better than most. The Director Safety, Emergency and Environment Management at TransLink, Dorit’s 25-year career most recently culminated in Vancouver’s 2026 FIFA World Cup partnership. She brings a perspective rooted in planning for risk, uncertainty, and change. FIFA, though unique in many ways, is at its root a major programme, and there is much to be learned from its delivery.In her conversation with Evgenia and Riccardo, Dorit explores what happens behind the scenes when a public transportation agency prepares for an event of this scale. Planning began years in advance and required operational management on four major fronts: transit service, safety and security, communications, and logistics. Her team tackled internal coordination challenges while also continuing to deliver a positive experience for out-of-town fans and regular commuters alike.Every major project requires safety and emergency management. While specific hazards vary by location and project—from pandemics and earthquakes to motor vehicle incidents or safety risks—both dedicated response and general management teams require clear, rehearsed response structures. Dorit gives examples to highlight the value of operational readiness, relationship-building, and safety thinking throughout every project’s lifecycle. Ultimately, the conversation shows that successful emergency management—invisible if everything goes well—can only succeed with deep preparation, strong relationships, and a shared understanding of why the work matters.Key takeawaysWhy major events like FIFA are just another type of major programme;Why alignment depends on helping every part of the organization understand the project’s importance and their role in it;Why operational readiness requires project teams to consider the needs of everyone who will interact with the infrastructure throughout its lifecycle;The need for incorporating safety management from start to finish in every major programme;Why the proudest moments aren’t the showiest projects, and relationships are always at the centre.Quote“[Success] comes ​from … aligning [the project’s importance] ​with ​each ​of ​the ​different ​parts ​of ​the ​organization ​and ​showing ​what ​they ​contribute.” - Dorit MasonThe conversation doesn’t stop here—connect and converse with our community via LinkedIn:Follow Navigating Major Programmes: https://www.linkedin.com/company/navigating-major-programmes/Read Riccardo’s latest at www.riccardocosentino.comFollow Riccardo Cosentino: https://www.linkedin.com/in/cosentinoriccardo/Follow Evgenia Jilina: https://www.linkedin.com/in/ejilina/ Follow Dorit Mason: https://www.linkedin.com/in/dorit-mason/ 

How can planners and engineers design cities that are more comfortable for the people living in them? The answer to this complex question involves microclimate analysis, and Ali Katal has designed a program that could ease this process, just as more and more regions are adopting stricter guidelines around it. In this episode, Evgenia and Riccardo speak with Ali about his company, Planète GreenLeaves. The building and microclimate engineer and PhD graduate focuses on climate adaptation in cities, particularly the growing challenge of heatwaves, especially as extreme weather events become more frequent.The conversation explores how Ali moved from academic research into entrepreneurship, developing a platform that makes advanced microclimate simulations more accessible to planners, engineers, designers, and decision-makers. His tool models heat, wind, shade, energy, and other climate factors—all in one place—to help teams understand how design decisions affect outdoor comfort. A key focus is the Universal Thermal Climate Index, or UTCI, which measures how heat stress is actually experienced by the human body in specific environments. As Ali explains, the temperature someone feels on a street can be very different from the air temperature shown on a weather app.The innovative speakers also discuss the challenges of bringing climate modelling into real-world planning and infrastructure processes, the requirements of which are beginning to change. Toronto has introduced thermal comfort guidelines and other global cities, including Singapore and Saudi Arabia, are following suit. The episode also examines common misconceptions about heat mitigation, from tree planting to cool pavement, and why cities cannot rely on generic solutions. Ali stresses that for true transformation, cities and major project teams need better tools, clearer policies, and a stronger understanding of how design choices actually affect the people who live, work, and move through urban spaces.Key takeawaysHow extreme heat in Montreal led Ali from engineering research into climate-resilience entrepreneurship;Why the problem of outdoor comfort stretches beyond simple calculations of air temperature;The problem with common heat-mitigation solutions and one-size-fits-all approaches;The programming language and AI components of this innovative platform;The funding and start-up struggles and successes of a company with a fresh idea in a traditional infrastructure environment.Quote“[With a different tool] it took one month, two months to get the simulation results. I can say if they were using our tool, it could be done in one day.” - Ali KatalThe conversation doesn’t stop here—connect and converse with our community via LinkedIn:Follow Navigating Major Programmes: https://www.linkedin.com/company/navigating-major-programmes/Read Riccardo’s latest at www.riccardocosentino.comFollow Riccardo Cosentino: https://www.linkedin.com/in/cosentinoriccardo/Follow Evgenia Jilina: https://www.linkedin.com/in/ejilina/ Follow Ali Katal: https://www.linkedin.com/in/ali-katal-8a410746/ 

How do industry leaders shift their thinking to incorporate the long-term right from the start? Over her 20-year career, Radhika Anand has identified a persistent and concerning pattern in the infrastructure landscape: a lack of planning past the preliminary completion of projects. In her far-ranging work as an economist covering Asia-Pacific and India through to her most recent role as VP of Commercial Advisory and Strategy at Infrastructure Ontario — and now as Founder and Senior Advisor at The Foundation Stone — Radhika has explored finance, investment law, and infrastructure delivery from all sides of the field. She saw early on the potential of infrastructure to create dignity and access in developing countries. This led her to dive deep into how infrastructure decisions are actually made—the risk allocation, political and financial evaluation, and public/private interactions that shape whether an asset delivers long-term value.In her conversation with Evgenia, Radhika exposes and examines the oft-held view that public value and private profit are opposing forces. Drawing on her time evaluating companies in India and beyond, she argues that responsible commercial discipline is more common than many people think and can help create assets that are more durable, equitable, and useful over time. Rather than treating environmental, social, and community benefits as add-ons, Radhika makes the case for designing them into the asset from the beginning and continuing to monitor these essential considerations throughout the often decades-long life of every project.The industry experts discuss the truth about tradeoffs, the trap of over-customization, and effective operating models. Talking through transit payment systems, data centres, Indigenous participation, and AI adoption, Radhika returns to a central point: major projects need multidisciplinary leaders who can balance both short-term delivery pressure and long-term consequences. This episode challenges infrastructure leaders to ask better questions earlier, think across systems, and design assets for the full life of their value—not only for the moment of procurement.Key takeaways:The need for designing social, environmental, and community benefits into infrastructure assets from the beginning;Why public value and private profit can support and complement one another;When infrastructure “tradeoffs” turn out to be the result of weak due diligence, siloed decision-making, or contracts that do not preserve flexibility;How system-level thinking can help infrastructure investments work together instead of competing for resources;Why integrating all technology before implementing AI makes the difference between adding value and wasting capital.Quote“When we are building assets in silos, it locks people out and destroys capital.” The conversation doesn’t stop here—connect and converse with our community via LinkedIn:Follow Navigating Major Programmes: https://www.linkedin.com/company/navigating-major-programmes/Read Riccardo’s latest at www.riccardocosentino.comFollow Evgenia Jilina: https://www.linkedin.com/in/ejilina/ Follow Radhika Anand: https://www.linkedin.com/in/radhikaanand9/ 

What balance of academic and in-practice education will turn out the best future infrastructure leaders? That’s what the team behind the Infrastructure Institute are discovering as they prepare to launch the inaugural Canadian Infrastructure Leadership Academy at the University of Toronto. Matti Siemiatycki is leading the charge, and he returns to the podcast to speak further about the inspiration and effort behind the program.In his conversation with Ricardo, Evgenia, and Shormila, Matti—a U of T professor of urban planning and Director of the Infrastructure Institute—discusses what’s missing in modern infrastructure delivery and what the Academy could mean for the future of an industry so vital to Canada’s continued growth. Matti reflects on years spent as the “coroner of infrastructure,” studying why major projects fail. Over time, he spotted recurring patterns: while individual project management issues matter, many failures point to broader gaps in leadership, organizational capacity, and the human side of delivery.Inspired by other professional offerings, like the Major Projects Leadership Academy in the UK, the Canadian program is designed for professionals with 10 to 15 years of experience who are ready to move into larger delivery roles. The program will combine academic insight with practical industry expertise, covering the commercial and business skills, as well as the conflict management, required to lead complex projects. Keep listening to learn what it will take for the academy to create project management change, in practice, nationally. Matti also discusses why this is the perfect moment to explore and launch a program that focuses on behavioural and relationship best practices and seeks to change the culture of infrastructure delivery as a whole, through an academically rigorous, practically sound approach to creating major projects that succeed.Key takeaways:Why major project leadership requires more than technical expertise or on-the-job experience alone;How studying project failures reveals recurring gaps in leadership, organizational capacity, and delivery culture;What lessons successful projects like the Darlington Nuclear Generating Station can offer;What needs to happen around the Leadership Academy for it to help shift Canadian project delivery culture;Why future leaders need to learn from a combination of academics and industry experts.Quote“I’m becoming much more convinced that the individuals make a huge difference” - Matti SiemiatyckiThe conversation doesn’t stop here—connect and converse with our community via LinkedIn:Follow Navigating Major Programmes: https://www.linkedin.com/company/navigating-major-programmes/Read Riccardo’s latest at www.riccardocosentino.comFollow Riccardo Cosentino: https://www.linkedin.com/in/cosentinoriccardo/Follow Shormila Chatterjee: https://www.linkedin.com/in/shormilac/Follow Evgenia Jilina: https://www.linkedin.com/in/ejilina/ Connect with Matti Siemiatycki: https://www.geography.utoronto.ca/people/directories/all-faculty/matti-siemiatycki   Learn more about the Leadership Academy: https://www.linkedin.com/company/infrastructure-institute/people/ Listen to NMP, episode 19, “The Human Pursuit of Infrastructure Delivery”: https://navigatingmajorprogrammes.transistor.fm/s2/19 Listen to NMP, episode 59, “Infrastructure Planning Meets Social Purpose”: https://navigatingmajorprogrammes.transistor.fm/s3/59 Listen to NMP, episode 66, “The Leadership Gap: Building Better Leaders for the Future of Canadian Infrastructure”: https://navigatingmajorprogrammes.transistor.fm/s3/66 Read “Anatomy of a unicorn: How systemic program management delivered a nuclear power plant on time and on budget”: https://www.sciencedirect.com/science/article/pii/S2214629625005067 

What degree of career growth is possible when you remain with one company? If you’re asking Jenia Reynolds, an experienced Partnership Development Manager, the answer is, “a tremendous amount.” In this episode, Jenia joins Shormila and Evgenia to dive into a 17-year career well-paved with pivots, professional development, and promotions—all beneath BC Hydro’s sizeable umbrella.Starting out at the bottom, as a scheduler just out of business school, Jenia eschewed the project manager path (after receiving her PMP) to redirect her focus on the customer. Today, she recognizes the significance of that shift, that let her hone her love of outward-facing roles and embrace her people-person nature. Today, she focuses on helping new industrial partners understand their power needs, connection options, and the practical steps required to bring large projects online.The discussion explores what it looks like to pursue career growth through curiosity, internal movement, and upskilling, as well as learning what credentials—such as an MBA—are needed for the roles you want next and avidly pursuing those differentiators. You’ll also hear about the burgeoning AI footprint and limited innovation in the energy industry. As Shormila, Evgenia, and Jenia are all mothers of young children, the episode concludes with a candid discussion about working motherhood and rising up in the ranks as a woman in industries traditionally dominated by men.Key takeaways:Why energy demand and grid connection are becoming more important considerations for major industrial projects;How to build a successful, milestone-packed career with a single organization;What working motherhood and visible female leadership can teach us about confidence, resilience, and articulating your value;What is keeping the energy sector from leading the charge in technological innovation;How wildfire risk, AI, and changing industrial demand are shaping conversations in the utility sector.Quote“If you can articulate the value that you bring to the table with clarity and conviction, the right people will see you.” - Jenia ReynoldsThe conversation doesn’t stop here—connect and converse with our community via LinkedIn:Follow Navigating Major Programmes: https://www.linkedin.com/company/navigating-major-programmes/Read Riccardo’s latest at www.riccardocosentino.comFollow Shormila Chatterjee: https://www.linkedin.com/in/shormilac/Follow Evgenia Jilina: https://www.linkedin.com/in/ejilina/ Follow Jenia Reynolds: https://www.linkedin.com/in/jenia-reynolds-6a26b15b/ 

How do expertise, experience, and expectation combine to make a Master Builder? Lecia Stewart is the founder and principle of The Stewart Group, a consulting firm with a large portfolio of successful major projects. In this episode, she dives into hard-won insights gleaned from more than three decades leading projects from the building, corporate, and government sides of Canadian rail infrastructure. Lecia’s career success can be traced to her unique understanding of the intersection between design, utilization, operations, governance, and delivery.Helping teams get unstuck by telling the truth and getting to the bottom of problems is Lecia’s bread and butter. She reflects on the difference between advising from outside an organization and trying to drive change from within, as well as how today’s major projects have become weighed down by fragmented accountability and excessive oversight.Human and cultural dimensions impact the success of major projects as much or more than the technical expertise on the ground. Lecia discusses the importance of political champions, the role of single-purpose entities, and why organizational culture determines whether the tools in a project team’s toolkit will work. She shares her experience as a woman and non-engineer in technical, male-dominated environments. She makes a strong case for building transferable social (aka “soft”) skills that span industry and subject matter; this kind of expertise is proven time and again to bring infrastructure projects to completion and meet the ever-elusive goal of “on time and on budget.”Key takeawaysThe need for consultants with experience and confidence to tell truth to power;Why infrastructure delivery has become more burdened by process, oversight, and diffused accountability;How leadership can “clear away the shopping carts” so project teams can do the work they were appointed to do;How political champions, single-purpose entities, and organizational culture shape project success;The impacts of focusing too heavily on gender disparity in the workforce.Quote“I’m focused on breaking down those needless barriers of time and process that get in the way from us being able to execute on the commitments that we’re asked to do.” - Lecia StewartThe conversation doesn’t stop here—connect and converse with our community via LinkedIn:Follow Navigating Major Programmes: https://www.linkedin.com/company/navigating-major-programmes/Read Riccardo’s latest at www.riccardocosentino.comFollow Riccardo Cosentino: https://www.linkedin.com/in/cosentinoriccardo/Follow Shormila Chatterjee: https://www.linkedin.com/in/shormilac/Follow Evgenia Jilina: https://www.linkedin.com/in/ejilina/ Follow Lecia Stewart: https://www.linkedin.com/in/lecia-stewart-6b27b09/ 

How do you measure the impact of one small, industry-focused podcast? In this co-hosts-only episode, Riccardo and Evgenia step back from the usual format to consider what it means to be showrunners, why the conversations they’re leading matter, and how Navigating Major Programmes has evolved as a platform for public discussion in the infrastructure industry. Evgenia reflects on her journey from listener, to guest, to co-host and the anxieties and adjustments that come with sharing ideas publicly, engaging with knowledgeable guests, and gaining confidence in the perspectives she has developed over 15 years in the industry.The conversation explores the role of independent, not-for-profit platforms in a sector where large-scale sponsored events can limit the range of viewpoints being shared. Riccardo and Evgenia discuss whether the podcast has a large enough platform to make a difference and the impact of guest selection and frequency on audience growth. They also reflect on the challenge of scaling the podcast without compromising its independence.The hosts also make time to tackle the broader development of major project leadership in Canada. Riccardo shares the original impetus behind the podcast, which has since evolved into the Canadian Major Projects Leadership Academy at the University of Toronto. The industry experts acknowledge and break down the gap between technical infrastructure expertise and the demands of leading major and mega projects, where so-called “soft” skills become increasingly critical. Riccardo and Evgenia’s final consensus won’t surprise loyal listeners: Navigating Major Programmes is a forum for practical ideas, meaningful connections, and ongoing conversations that help shape the future of infrastructure delivery.Key TakeawaysHow hosting a podcast builds confidence in and validation for industry perspectives;The opportunity for independent platforms to create space for more diverse, real-world conversations about infrastructure;The potential of the new Canadian Infrastructure Leadership Academy to fill a sector-wide leadership and business operations gap;How organizations like the Future of Infrastructure Group (FIG) help turn conversations into action;The reasons behind the unique skill set required for major project management.Quote“FIG really turbocharged the amount of ground that can be covered by the initiative.” - Riccardo CosentinoThe conversation doesn’t stop here—connect and converse with our community via LinkedIn:Follow Navigating Major Programmes: https://www.linkedin.com/company/navigating-major-programmes/ Follow Riccardo Cosentino: https://www.linkedin.com/in/cosentinoriccardo/Read Riccardo’s latest at www.riccardocosentino.com  Follow Evgenia Jilina: https://www.linkedin.com/in/ejilina/ Learn more about the Future of Infrastructure Group: https://infrastructurelab.com/future-of-infrastructure-group/ Follow the Future of Infrastructure Group: https://ca.linkedin.com/company/future-of-infrastructure-groupStay informed about the upcoming Canadian Infrastructure Leadership Academy at U of T: https://infrastructureinstitute.ca/leadership-academy/