This article sets out to discuss the contentions that inadequate consideration is given to the costs and adverse effects of extended periods of project preparation (pre-construction) for hydropower projects and that the failure to deliver projects in a timely and efficient manner is wasteful of scarce resources in a developing country. The recommendation is that project staff, developers, government officials and IFIs should be made more aware of the cost of delay so that they could balance the costs and benefits of their actions.