The reality of major capital projects With almost $1 trillion of investor capital being committed to major capital projects across Australia, the competition to secure adequate skills, machinery, materials, operating licenses, contractor support, and associated infrastructure has increased significantly, putting pressure on supply and yielding unique delivery risks. Furthermore, the sheer magnitude and complexity of these projects, combined with market conditions and the high value of the Australian dollar, has increased risk profiles to the point where such projects may threaten the financial security of owners and investors. The reality is that major capital projects can significantly enhance or erode shareholder value, depending on how well they are executed. Considering their high-impact nature, levels of governance, risk management, and assurance need to be strengthened. Risk intelligence in major capital projects As part of Deloitte's ongoing relationship with some of the most prominent major capital project entities in Australia, the authors have assessed a number of mega projects to determine what commonalities exist in light of risk management better practice. The authors have consolidated their observations into their latest contribution to Australian industry: Nine Principles to Establishing a Risk Intelligent, Major Capital Project. This extended abstract outlines what the authors believe the top Australian major capital projects are doing to control risk, while pursuing their delivery objectives. How are project officers securing clear accountability in complex stakeholder environments? How are they keeping owners and investors assured? How are they de-mystifying emerging risk scenarios?