The Thames Gateway project has been condemned by the National Audit Office (NAO) as lacking proper planning.
In a condemning report, the NAO said that the project – the largest of its kind in western Europe – does not have a budget, a marketing strategy or an overall strategic plan.
As well as being chronically behind schedule, the project has shown no signs of turning its objectives into real, clear-cut results, the report said.
The NAO stated: "There is no overall joint risk management strategy in the Thames Gateway.
"Without joint risk management it is difficult for the many public bodies helping to deliver the programme to work together to manage the shared risks to their shared objectives."
Among the NAO's recommendations, was the creation of an all-encompassing programme to supervise and coordinate all the projects involved, which could "present a live picture of progress".
The Thames Gateway is a 30-year regeneration programme designed to reduce over a century of decay of the north and south banks of the Thames estuary.
A total of £672 million from The Department for Communities and Local Government is to be provided to the project to hasten housing delivery.
© Adfero Ltd
