Tom Carey’s career began in the trenches—literally. Fresh out of university in the early 1990s, at a time when opportunities in Ireland were scarce, he found himself thrown into the deep end of construction in the UK with main contractors Sisk, and, subsequently, McNicholas Construction. 

After almost a decade delivering capital projects in utilities, rail, education and healthcare, he moved to Laing Investments, a firm renowned for its work in public-private partnerships, before moving back to Ireland for a role leading the Projects Controls and Commercial function within the Railway Procurement Agency (RPA). 

The agency had just delivered the two Luas lines but had been mandated to deliver several extensions to the Luas as well as a portfolio of other Metro and Light Rail projects under the Government’s Transport 21 masterplan. 

After nine successful years with the RPA, he moved to daa (formerly Dublin Airport Authority) before returning to the private sector and subsequently into consultancy and in late 2023, he joined EY, where he is a partner in the infrastructure consulting practice 

Throughout it all, his career was defined by one central principle—getting things done, properly. A Chartered Engineer and Fellow of the Chartered Institute of Arbitrators, Carey has spent three decades understanding and implementing best practice, at the forefront of infrastructure delivery.

In his current role, he spends much of this time focused on solving some of the country’s most pressing development challenges—delivering major capital projects and infrastructure, on time and on budget.

The challenges facing delivery

Ireland’s infrastructure has long been a topic of debate, often criticised for delays, cost overruns, and inefficiencies. 

However, Carey is quick to point out that, despite criticism, there have also been significant successes. 

“The sector often gets criticism for inefficiency, but there are shining examples of world-class project delivery in Ireland. The Luas extensions, for instance, were delivered on time and on budget.”

He believes that it is much more progressive to take a balanced view and to study what worked well, not just what failed.

With the Government’s commitment to the National Development Plan, Carey believes there is now an opportunity to learn from past successes and mistakes and take a more strategic approach to planning, funding, and delivering essential projects.

“The Government is spending more money than they have ever done in the past in terms of the National Development Plan. So, the organisations that are charged with bringing that infrastructure forward are doing more and larger capital projects than they have ever done before,” he says. 

“We should appreciate that some of those organisations may find this landscape challenging, perhaps grappling with how they are going to deliver all of these projects on time and within budget.”

Carey identifies three key obstacles facing infrastructure development in Ireland.

First, planning delays remain a significant problem. Projects can face long and uncertain delays due to a variety of issues. The new Planning and Development Act 2024 aims to streamline several key aspects of the processes and could make a real difference, he says.

Second, procurement complexity is a major issue. The legal framework for public procurement is highly intricate, making it challenging for both public sector clients and contractors to navigate. When you combine that with the extraordinary demands on supply chains, you can see that procurement is a key area to focus on.  Too often, he says, tendering processes result in limited bids, which undermines competition and value for money.

“Getting your procurement strategy right is vitally important,” Carey says. “A lot of countries are trying to build out their infrastructure at present, not just Ireland. The pressure on supply chains, both nationally and globally, is greater than ever and organisations that are bringing capital projects forward need to think carefully about how they are going to create the environment for strong competition, preferably in collaboration and consultation with the market.

“We can all agree that strong competition leads to better value for money, and if you have companies competing at tender stage, to offer the best price and the best quality service, well then you are more likely to achieve value for money for the taxpayer.”

Finally, he says there is a shortage of experienced project leaders. The demand for skilled professionals far outstrips supply, and Carey says Ireland is planning to deliver more projects than ever but ensuring that there are enough people with the right expertise to manage them effectively is critical.

“What is absolutely certain is that both the capability and the capacity to deliver at scale and at speed is vitally important to the successful delivery of infrastructure and capital projects, including the National Development Plan”.

Key success factors for capital projects

Based on his experience, Carey argues that several critical elements determine whether a project meets its objectives efficiently and within budget.

Counterintuitive as it may seem, Carey argues that the best way to assure timely project delivery is to take more time at the beginning.

“People feel under pressure to show progress quickly—getting projects ‘shovel-ready’—but a rushed setup leads to delays and cost overruns down the line,” he warns. “The most successful projects are those that have been meticulously planned.”

According to Carey, projects need clearly defined objectives from the outset, whether they aim to increase capacity, improve connectivity, or provide new facilities etc. Cost and schedule estimates must be realistic to maintain credibility with stakeholders, and robust governance structures should be in place to ensure decisions are made on an informed basis rather than political or financial pressure or hearsay, he says. 

“You have to take your time at the start of the project to get set up for success.” Without a strong foundation, he says projects are more vulnerable to budget overruns and delays. 

“Understanding the cost and timeframes properly is essential because if you start off with information that’s inaccurate, you’re going to be constantly changing the budget or changing the timeframe and that will lead to huge pressure from your stakeholders. People will lose confidence in your ability to deliver the project successfully. It can become a vicious circle,” he says.

“You also need to be clear on what it is that you want to achieve. What are the benefits you want to realise? Is it to increase capacity? Is it to provide a new facility? Focusing on what you want to ultimately achieve rather than just cost and time outcomes is increasingly part of a best practice approach to infrastructure delivery. ”  

Risk management is also a major factor, he says. 

“Excellence in risk management is probably the glue that holds all aspects of projects together, and it can be a differentiator between project success and failure,” Carey says. 

He adds: “To enable good risk management, it’s essential to value openness and realism over fake good news and blind optimism. It is almost, dare I say it, to encourage people to share bad news. But the rewards from doing it properly in terms of mitigating and managing the unexpected is really a key element of success for capital projects.”

Finally, Carey highlights a collaborative approach to contracting as another important ingredient to successful project delivery.

As an advocate of collaborative contracting from his experience in the UK, he says that he has long argued for moving away from the inefficiency of the adversarial approach of transferring as much risk as possible to the building contractor so that they make as little profit as possible. “A strong construction industry is one in which our contractors are financially stable and secure.”

AI and the future of infrastructure

The construction industry might have been seen as slow to embrace technology, but Carey sees AI as a potential game-changer—particularly in key areas such as project estimation and risk analysis.

“Right now, AI is mostly used for asset management—predicting maintenance needs, optimising operational performance etc. But its role in capital project delivery is emerging and gaining traction. Imagine AI agents that can analyse past project data to generate realistic cost and schedule forecasts. That’s where we’re headed.”

However, he warns that AI is only as good as the data behind it. “If you don’t have a coherent data strategy, AI won’t help you. Organisations need structured, high-quality data from within your organisation and from across the supply chain.”

As Ireland embarks on an infrastructure programme that will serve many generations to come, Carey remains optimistic—but clear-eyed about the work ahead.

“We’ve got a strong pipeline, a skilled workforce, and improving regulatory frameworks. But to deliver, we need smarter procurement, better risk-sharing, and leadership that understands the complexities of large-scale project execution,” he says.

“Ireland has been outstanding in the past by positioning itself to gain a competitive advantage on the global stage, such as our FDI success story – we need similar strategic thinking across several inter-related challenges, to successfully deliver our infrastructure ambitions.”  

The Currency is the media partner for EY’s Delivering Infrastructure & Capital Projects – Principles of Success event. For more information and to register your interest for this event, click here.

This is partner content and has been produced in association with EY.