Olympic chiefs have promised there will be "no repeat of Wembley" as they announce their preferred bidder to ensure the 2012 Games venues are built.
A British-American consortium, CLM, is due to be awarded the multi-million pound contract to manage the massive project in east London.
Between them, the CLM companies have experience of five previous Olympics, as well as Heathrow's Terminal Five.
Profits will only be earned if targets are met, say 2012 bosses.
Trouble with building the £757m Wembley Stadium - now expected to open in June 2007, two years over deadline - has raised fears about the huge task of building the Olympic Village and other venues.
"I can assure everyone that this is will not be a repeat of Wembley"
But announcing CLM as the "delivery partner" for the London Olympics, the Olympic Delivery Authority said it had learnt from the Wembley experience, and set out to avoid a lot of its pitfalls.
ODA chairman Jack Lemley said: "I can assure everyone that this is will not be a repeat of Wembley.
"The British construction and engineering industry doesn't deserve the rap they're getting because of what's happened at Wembley."
He cited other "brilliant" British projects - such as Arsenal's new stadium and the Channel Tunnel high-speed rail link.
And he said if contractors and designers could not meet their briefs, they would be fired.
"That's how we'll prevent another Wembley. ODA will be accountable in the first instance and CLM will be accountable in the second instance."
The contract is to be performance based - profits will only be earned if targets are met. CLM will be responsible for ensuring venues are built on time and to budget.
The firms involved in CLM between them have experience of other major projects, including five previous Games, the T5 project, the St Pancras Channel Tunnel rail link and the £115m new grandstand at Ascot.
CLM chairman Ray O'Rourke pointed to the consortium's track record as reassurance that the facilities for the London 2012 will be finished on schedule.
'Wonderful reputation'
"Terminal Five has been delivered nine months early and to budget while Ascot was delivered absolutely on time," he said.
"We have a wonderful reputation for delivery and it's not an issue."
CLM beat Bechtel, G3 and Legacy to the contract. Olympics Minister Tessa Jowell said they would be a "strong addition" to the 2012 team.
London 2012 chairman Lord Coe said the facilities would be ready a year early, so they could be tested, and progress would be constantly monitored.
"The International Olympic Committee will come knocking on my door if there are any delays, so this is a team effort," he said.
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