How do we finance nuclear power plants in Canada? In this episode, Riccardo applies his experience financing large infrastructure projects to a deep-dive discussion with Chris Keefer. The Toronto physician and the President of Canadians for Nuclear Energy has excellent questions about the renaissance of this energy source and the process of funding these vast, costly, and promising initiatives. Riccardo explains why nuclear has historically depended on sovereign balance sheets, public utilities, and government-backed financing—and why the long-tail construction risk of the sector makes private lenders wary.

The conversation compares nuclear to other major infrastructure and energy assets, from hydroelectric projects and bridges to combined-cycle gas turbines. Along the way, Chris and Riccardo unpack key financing concepts and why construction certainty is such a major determinant of cost of capital. The discussion explores existing projects, such as Hinkley Point C, Sizewell C, the Thames Tideway Tunnel, and Ontario’s nuclear context to show how risk is assigned, priced, and sometimes pushed back onto governments or ratepayers.

Ultimately, the episode highlights that there is no universally good or bad financing model. The right structure depends on policy objectives, owner capability, risk appetite, market conditions, and whether the project can attract private capital without driving up the long-term cost of electricity. For Ontario and other jurisdictions considering new nuclear, the central challenge is not simply whether to use public or private money, but how to bring the right capital into the project while keeping the cost of that capital low.

Key takeaways

• Why public interest infrastructure often requires more than a simple public-versus-private financing debate 
• The benefits of public-sector or sovereign-backed financing for nuclear projects;
• Why transferring risk to the private sector can make electricity more expensive;
• What select UK nuclear power plants reveal about different nuclear financing models;
• Why Ontario’s experienced nuclear owner position may shape how future projects are financed.

Quote:

• “Project finance is asset-agnostic." -Riccardo Cosentino

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.com
• Follow Riccardo Cosentino: https://www.linkedin.com/in/cosentinoriccardo/
• Follow Chris Keefer: https://www.linkedin.com/in/chris-keefer-md-166a3698/

What does it take to excel as a systems leader in our rapidly changing modern landscape? Robert Siegel is the ideal guest to speak to this inquiry. The Stanford management professor, venture capitalist, and author of “The Systems Leader” joins Riccardo and Evgenia for a conversation about what our increasingly complex world requires of leaders and how these expectations tie in to major projects. Drawing on decades of experience across diverse fields, Robert explains why leaders today are requiring more varied skill sets than ever before to navigate the vast ecosystems they operate within. 

Large infrastructure projects are an excellent example of complex adaptive systems, where leaders must manage technical delivery while staying alert to shifting stakeholders, market conditions, social expectations, and organizational pressures. From local and global dynamics to balancing ambition and stewardship, Robert outlines the cross-pressures facing individuals pursuing leadership in infrastructure and beyond. 

Charging managers with continuous learning and the development of diverse traits, from gravitas to getting their hands dirty, Robert speaks to the leadership mindset and what may be a hard truth to swallow: accepting change and questioning how things have “always been done” are not nice-to-haves when it comes to leadership. Ultimately, he makes the case that leaders are defined by their ability to see the system, stay grounded under pressure, and remain adaptable within an ever-evolving future.

Key takeaways:

• Why great leaders need breadth as well as depth—and what happens when specialists stay in their silos;
• The traits great leaders do and don’t possess;
• The five cross-pressures today’s leaders must navigate;
• Why systems leadership requires the courage to challenge the status quo;
• How and why leaders need to adjust their approach for younger generations and emerging technologies.

Quote:

• “Whatever function you’re in or how senior you are, you’ll be able to be better at your job if you understand the issues of the broader system.” - Robert Siegel

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.com
• Follow Riccardo Cosentino: https://www.linkedin.com/in/cosentinoriccardo/
• Follow Evgenia Jilina: https://www.linkedin.com/in/ejilina/  
• Follow Robert Siegel: https://www.linkedin.com/in/robertesiegel/ 

Where does the infrastructure industry currently sit in the adoption of AI-driven technologies? In this episode of Uncharted Conversations, Shormila flips the tables on Riccardo to pick his brain about one of the most discussed—and most misunderstood—topics in the future of work today: artificial intelligence. A long-time watcher and learner on this innovative subject, Riccardo has followed the progress of AI for decades. Drawing on his well-rounded knowledge, Shormila guides an exploration of his perspectives on what AI actually means in practice for infrastructure and why the current hype often skips over the harder questions of value, cost, data, and implementation.

As frustrating as they may be for those in the industry embracing AI, there are good reasons why infrastructure has been slower to adopt these technologies than other sectors. Riccardo points to a fragmented project-based environment, tight contractor margins, and limited reinvestment in digitalization. Most importantly, the industry suffers from a widespread lack of structured data, which AI systems need to be effective and efficient. 

Rather than treating AI as either a job-killing threat or a guaranteed revolution, Riccardo upholds it as a tool—one with significant potential, but only when embedded thoughtfully into real processes. He talks through an intriguing AutoCAD parallel, uncertain economics, the limits of digital twins, and where infrastructure may see more practical value, such as scheduling and project analysis. AI may transform infrastructure one day, but only if the industry as a whole takes on the difficult work of digitalizing, structuring data, and integrating the ever-evolving roster of tools into industry-wide workflows.

Key takeaways:

• The primary reasons the infrastructure industry is behind in AI adoption;
• How the AI of the early 2000s became the AI we know today;
• AutoCAD and AI: tools that change work, not overwrite it;
• Why AI value depends on truly structured data, not just more project information;
• Where AI holds the most promise for the future of infrastructure management and project delivery.

Quote: 

• “Robotics is what the construction industry needs…and robotics is just not there.” - Riccardo Cosentino

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.com
• Follow Riccardo Cosentino: https://www.linkedin.com/in/cosentinoriccardo/
• Follow Shormila Chatterjee: https://www.linkedin.com/in/shormilac/

What is team coaching, and is it more than just an expensive, touchy-feely extra on major projects? How we behave and perform under pressure is one of the less visible parts of any infrastructure undertaking, but the fact remains: people and leaders are behind every aspect of every project. In this episode, Riccardo and Evgenia are joined by Christi Mertens, the founder of Invisible Discipline. Their probing conversation on human behaviour and how it impacts outcomes addresses the skepticism that so often surfaces when coaching is suggested.

Major programmes bring together strangers from multiple organizations and expect timely success under the pressure of huge deliverables and billions of dollars, all despite different corporate cultures, incentives, habits, and assumptions. Drawing on her background in behavioural science, strategic planning, and organization team coaching, Christi’s work today focuses on project teams across the full lifecycle. From development and procurement through handover and asset management, she helps them understand and act on how the people around them actually communicate, collaborate, and follow through. Christi explains why motivation is not enough, and how team coaching helps build awareness at three levels: the individual, the team, and the broader operating system they are working within.

The discussion doesn’t shy away from the industry’s ingrained resistance. It tackles why owners and project leaders often question the value of coaching, why vulnerability can be difficult for senior specialists, and why collaborative aims need discipline, habits, and tools to be realized. Before she’s done, Christi offers up practical advice for directors forming project bid teams for the first time. This episode highlights what is really behind projects that finish on time, on budget, and without a stack of hostile claims on file. Lasting success depends on reflection, feedback, alignment, and an intentional culture that helps people solve shared problems together.

Key takeaways

• How team coaching works across the “me,” the “we,” and the broader project operating system;
• Why motivation is not enough without discipline, habits, and tools for changing behaviour;
• The difference between coaching short-term project and long-term organizational teams;
• Whether or not a true collaborative contract is required for successful collaboration;
• The risk and reality of trying to be part of a high-performance team.

Quote:

• “Motivation doesn’t get you very far…Without discipline and habits and tools for changing behaviour, it’s really had to see follow-through.” -Christi Mertens

The conversation doesn’t stop here—connect and converse with our community via LinkedIn:

• Riccardo’s spreadsheet “AI Startups in Engineering & Construction”: https://docs.google.com/spreadsheets/d/1TCvfRqqd1NzxgMhVoTMbKeL9bOp_1-mn/edit?usp=sharing&ouid=100654060211988607651&rtpof=true&sd=true
• Riccardo’s LinkedIn Article “AI Startups in AE&C (Architectural, Engineering and Construction)”: https://www.linkedin.com/pulse/ai-startups-aec-architectural-engineering-riccardo-cosentino-bvhrc/
• 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 Christi Mertens: https://www.linkedin.com/in/christi-mertens/ 

What is the sweet spot between digital project delivery and inclusive, diverse collaboration? Digital transformation is a significant player in the field of project delivery improvement and innovation. Sheryl Staub-French, a UBC Civil Engineering professor and 20-year infrastructure and building information modelling veteran, is the perfect spokesperson for its journey. Sheryl joins Evgenia for a conversation that centres change—both technological and cultural—for the betterment of the infrastructure industry. The sector is long (and infamously) plagued by the spectre of over-budget-and-over-time, and Sheryl’s research seeks to uncover innovations that can shift this trend. It all starts, she stresses, at a systems level.  

In their conversation, Evgenia and Sheryl explore Sheryl’s leadership in equity, diversity, and inclusion, including her role as the first Associate Dean of ED&I in UBC’s Faculty of Applied Science and the first female head of her department. Sheryl reflects on the persistent underrepresentation of women and Indigenous students in engineering, the importance of groundbreaking systems and culture change, and why inclusion of all kinds is not separate from project success. 

The discussion also burrows deep into the human and technical sides of infrastructure innovation. Pointing to specific successes in other countries, Sheryl argues that digital tools alone will not transform the industry unless owners, teams, and organizations are ready to change how they work together and implement that change at an organizational, not individual, level. Whether discussing BIM, IPD, AI, or engineering education, Sheryl returns to a core idea: better infrastructure delivery depends on better collaboration, better data, and better systems for bringing all voices and expertise into the work.

Key takeaways

• Why Canada’s lack of a national digital transformation strategy leaves infrastructure delivery behind its fellow G7 countries;
• How equity, diversity, and inclusion connect directly to better engineering education and on-the-ground outcomes;
• What’s possible with a true, human-focused, collaborative IPD approach to infrastructure;
• Why collaboration requires aligned incentives, shared risk, shared reward, and trust—not just new tools;
• How AI could improve the efficiency and completeness of information commissioning and handover practices.

Quote: 

• “If people don’t feel included, if it’s not diverse, if all voices aren’t being heard, it’s not successful.” - Sheryl Staub-French

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.com
• Follow Evgenia Jilina: https://www.linkedin.com/in/ejilina/  
• Follow Sheryl Staub-French: https://www.linkedin.com/in/sstaubfrench/ 

What does it take to bring women into infrastructure—and keep them there? The goal was once simply to get female leaders a seat at the table. Today, this growing demographic in the industry rightfully demands not just an invitation but influence and impact once they’re there. In this episode, Evgenia and Shormila are joined by Marisa Espinosa (AECOM) and Karla Avis-Birch (Arup) for a thoughtful conversation about what it takes not only to enter the sector, but to stay long enough to shape the future of capital projects. 

Both guests bring deep experience in transportation and major programmes, along with distinct paths into the industry. Their conversation explores the leadership qualities required in a sector where technical and human complexity are equally matched. Marisa and Karla discuss the importance of purpose, passion, life experience, and systemized thinking in ensuring teams stay productive and connected. They also reflect on the need for diverse perspectives when building infrastructure that serves real communities.

Opportunity, support, and thoughtful policies all contribute to keeping women coming to and growing within their industry. Both Marisa and Karla play important roles in their local WTS chapters and speak to the need for robust networks both inside and outside the office. They celebrate the relationships that provide both confidence and community, as existing and upcoming generations of infrastructure leaders continue to push the boundaries of what’s possible.

Key Takeaways:

• Why transportation leadership starts with understanding how people actually rely on infrastructure;
• The essential leadership traits for everyone climbing the ranks in major projects;
• What women’s lived experience brings to infrastructure decision-making and project delivery;
• How non-linear careers, caregiving, and confidence gaps affect women’s progression in the industry;
• The role of women-led networks like WTS in building community, credibility, and opportunity.

Quote:

• “What’s your own leadership imprint? Who you are as a leader; how do you want to show up?…That’s important” - Marisa Espinosa

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.com
• Toronto chapter of the WTS: https://www.wtsinternational.org/chapters/toronto/about 
• Vancouver chapter of the WTS: https://www.wtsinternational.org/chapters/vancouver/about 
• Follow Shormila Chatterjee: https://www.linkedin.com/in/shormilac/
• Follow Evgenia Jilina: https://www.linkedin.com/in/ejilina/  
• Follow Marisa Espinosa: https://www.linkedin.com/in/marisa-espinosa-a575314/ 
• Follow Karla Avis-Birch: https://www.linkedin.com/in/karla-avis-birch-p-eng-a8a8b1152/ 

What can adventures in vibecoding and broadening one’s understanding of AI models reveal about the future of infrastructure? In this episode, the podcast makes a 180 as Lawrence Rowland turns the microphone on Riccardo. What follows is a wide-ranging and deep-delving conversation about modelling, artificial intelligence, systems thinking, and the role these evolving tools might play in major programmes. 

They begin with Riccardo’s development of an International Roughness Index (IRI) prediction model to better understand pavement degradation—an example of using data to challenge linear assumptions and improve infrastructure decision-making. From there, the discussion follows Riccardo’s learning journey through reinforcement learning, coding agents, decision intelligence, reality capture, knowledge graphs, and the future of physical AI. Along the way, Lawrence and Riccardo bring the discussion back to what these tools mean for project leaders: why humans and organizational processes remain the weakest link in adopting new technology, how AI can support—not replace—human decision-making, and why meaningfully connecting the data is the biggest determinant of success.

The episode also explores the softer but no-less-essential side of major programmes, including relationship complexity, stakeholder power, information asymmetry, and the limits of tools like Gantt charts in representing the real dynamics of project delivery. Finally, Riccardo reflects on what his AI experiments and podcast journey have taught him about his own niche. This conversation covers all the bases: curiosity, humility, and the need to keep rethinking how we understand, manage, and learn from complex infrastructure systems.

Key takeaways

• The future of LLMs and physical AI in major projects;
• What old-school video games have to do with building prediction models;
• How decision intelligence can begin to support, but not replace, project leadership;
• The difference between complex and complicated—and why it matters for systems thinking;
• What delving into AI and its possibilities has taught Riccardo about his niche.

Quote

•  “[In today’s LLMs], through brute prompting, you can actually get to the answer you want…but it’s a very convoluted path.” - Riccardo Cosentino

The conversation doesn’t stop here—connect and converse with our community via LinkedIn:

• Riccardo’s spreadsheet “AI Startups in Engineering & Construction”: https://docs.google.com/spreadsheets/d/1TCvfRqqd1NzxgMhVoTMbKeL9bOp_1-mn/edit?usp=sharing&ouid=100654060211988607651&rtpof=true&sd=true
• Riccardo’s LinkedIn Article “AI Startups in AE&C (Architectural, Engineering and Construction)”: https://www.linkedin.com/pulse/ai-startups-aec-architectural-engineering-riccardo-cosentino-bvhrc/
• 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 Lawrence Rowland: https://www.linkedin.com/in/lawrencerowland/ 

How do you champion an authentic leadership style in a sector that’s slow to adapt to change? Infrastructure Ontario President and CEO Angela Clayton has traversed this career journey by building a robust network while maintaining a deep dedication to continuing education and an iron-clad work ethic. She joins Riccardo and Shormila for a candid conversation about career growth and what it means (and doesn’t mean) to be a woman in leadership in this male-dominated industry. 

Angela has seen the benefits of prioritizing community and collaboration in many facets of her career. She reflects on her history of learning on the job and how employer-supported professional development has transformed her trajectory. She and the hosts dig into the practical realities of leadership in major programmes and the mistaken assumption that great individual contributors naturally become great leaders. She also speaks frankly about being the only woman in the room, and how essential trust in hard-earned champions, while it doesn’t negate impostor syndrome, certainly puts it into perspective.

The discussion also explores IO’s evolution over time, Angela’s approach to her transition to CEO, and her future plans for pursuing more impact-driven work. Discover this successful industry innovator’s take on the shifts leaders must make as they navigate new roles and her thoughtful advice for women aspiring to excel in infrastructure.

Key takeaways:

• How a strong network creates career opportunities, and why getting the job is only the beginning;
• The pitfall of assuming technical excellence translates into project and people leadership;
• How to think about “diversity hires” without tokenism—and what real sponsorship looks like;
• The culture and mandate evolution of Infrastructure Ontario;
• The mental shift required when moving from PM issues management to CEO vision and culture development.

Quote:

• “[Former peers who now report to me are] some of my most trusted advisors. They have the history of the organization, and it’s so valuable to have that institutional knowledge.” - Angela Clayton

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.com
• Follow Riccardo Cosentino: https://www.linkedin.com/in/cosentinoriccardo/
• Follow Shormila Chatterjee: https://www.linkedin.com/in/shormilac/
• Follow Angela Clayton: https://www.linkedin.com/in/angelafclayton/ 

To what extent is leadership success contingent on specific industry expertise? Marcia Medrano began her career in buildings, not transit. Yet, her experience developing and guiding teams, budgets, and procurement projects is proof that people management is not bound by sector—as long as you’re willing to make the most of the experts around you.

In this episode of Master Builder, Riccardo and Shormila sit down with the Executive Vice President of Capital Projects at Metrolinx to explore what it takes to rise to leadership without pretending you’re an expert in everything. Marcia traces her path from architecture and vertical infrastructure to transit delivery and the core lesson that’s shaped her career: big infrastructure delivery is fundamentally about people—building trust, aligning teams, and getting things done. Marcia doesn’t hesitate to push back against conventions and assumptions. Choosing to leverage her parallel expertise rather than be daunted by a new sector, she often asks, “Why not?” Over and over, she sees the question unlock progress in new and exciting approaches for the infrastructure industry.

The three experts hold a candid discussion about impostor syndrome and women in leadership, the superiority of alliance projects, and the importance of transparency on all sides of a major programme. They call out the danger of blindly following rigid structures and the shifting of the status quo as the Canadian infrastructure industry dives into ever larger and more ambitious projects. Throughout it all, Marcia champions a new understanding of steering the ship, and all the assets that come along with “leading like a woman.”

Key takeaways

• The relationship-building and human connection that underpin infrastructure delivery success;
• How transparency drives success, however varied a team’s expertise and experience; 
• Why incentivizing on-the-ground solutions and cooperation outweighs claims that stall progress at every turn;
• The importance of updated governance and project-wide empowerment on the owner side of collaborative contracts;
• What’s poised to change for women in infrastructure leadership.

Quote

• “Challenging our own biases of the things that we know and the things that we don’t know is part of challenging the status quo.” - Marcia Medrano

The conversation doesn’t stop here—connect and converse with our community via LinkedIn:

• Navigating Major Programmes, Season 2 Episode 6 with Lawrence Rowland: https://navigatingmajorprogrammes.transistor.fm/s2/23 
• 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 Marcia Medrano: https://www.linkedin.com/in/marcia-medrano-34a2962a/ 

How is AI poised to transform our workflows and working relationships in the coming months and years? There’s no question that large language models have had an enormous impact on our lives—and most of us have barely scratches the surface of what is possible with these powerful tools. In this episode, Lawrence Rowland joins Riccardo to unpack all that’s changed since his last appearance on the podcast in 2024. Lawrence is a veteran of project management with a laser focus on AI transformation and strategy. Together, he and Riccardo explore numerous angles of working with these inhuman (but increasingly capable) agents on everything from research to reporting to improving coworker interaction.

The conversation stays grounded in practice: the pair drills down on the massive shifts in AI in merely months, why token budgets matter, and the growing ability of programs to self-prompt and think outside the boxes of our requests. Lawrence shares the fascinating way he uses AI—to synthesize methodologies, generate playbooks, pressure-test thinking, and reveal tacit insights missing from current project narratives.

The two AI buffs also confront the human side of the transition, including where accountability falls when work is partially automated and what “transformative AI” might mean for careers and organizations. Less about hype and more about adaptation, Lawrence and Riccardo’s conversation hones in the theory on constraints. They remove the rose-tinted glasses and speak to redesigning workflows based on a practical, vital question: where is AI genuinely better, and where are humans still essential?

Key Takeaways:

• How agentic AI shifts work from prompting to task-level execution;
• The reasoning capacity of AI tools based on token budgets and model capability;
• The concept of underwriting in retaining human liability in AI-dominated work
• How theory of constraints and bottleneck thinking helps decide what to automate vs keep human;
• How AI can improve communication and project alignment by translating complex work for different audiences.

Quote:

• “Either you’re checking the AI or the AI is checking you, and getting used to that will set you up for the new economy.” - Lawrence Rowland

The conversation doesn’t stop here—connect and converse with our community via LinkedIn:

• Navigating Major Programmes, Season 2 Episode 6 with Lawrence Rowland: https://navigatingmajorprogrammes.transistor.fm/s2/23
• NBER “Economics of Transformative AI Workshop, Fall 2025”: https://www.nber.org/conferences/economics-transformative-ai-workshop-fall-2025
• arXiv “Some Simple Economics of AGI” by Christian Catalini, Xiang Hui, Jane Wu: https://arxiv.org/abs/2602.20946
• SSRN PDF “Some Simple Economics of AGI”: https://papers.ssrn.com/sol3/Delivery.cfm/6298838.pdf?abstractid=6298838&mirid=1
• 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 Lawrence Rowland: https://www.linkedin.com/in/lawrencerowland/