Looking beyond time and cost influences in megaprojects

Walsh, A; Walker, PA

Abstract

In the popular press, coverage of megaproject tends to be dominated by time and cost issues without consideration of other critical project factors. Those taking a more holistic approach have also analysed the wide variety of megaproject characteristics, which may negatively impact on successful delivery. While megaprojects are considered temporary or unique collaborations, it is increasingly common to see recurring themes within megaproject delivery. These include high levels of risk, environmental concerns, leadership challenges, stakeholder commitment, ecological aspects, and cultural challenges, all of which influence whether a megaproject will be - or will not be considered as - success or failure. This paper discusses which are the most commonly identified characteristics related to a megaproject’s success, beyond the widely covered time and cost criteria.

Work over the last decade which has identified the characteristics which are found to exist in specific megaprojects is reviewed, and these findings are thematically analysed to provide a more holistic understanding of the complexities involved in executing megaprojects. Work by others identifies critical characteristics such as strong leadership, risk management, organisational culture, national culture, political and environmental issues, and explores new and emerging directions updating the perception of megaprojects. The inherent intricate inter-relationship of these characteristics is identified, and how these interrelationships add to the complexities of governing such ambitious ventures is discussed. This research finds that although time and cost considerations tend to dominate popular press headlines, the enormity and complexity of many of these ventures makes it increasingly critical to give attention to and articulate other characteristics including risk, culture, stakeholder and management aspects.

Citation

Walsh, A., & Walker, P. Looking beyond time and cost influences in megaprojects. Presented at COBRA at ARES Conference April 2020, Sanibel Harbour Marriott Resort and Spa - Fort Myers, Florida, USA

• Presentation Conference Type: Other
• Conference Name: COBRA at ARES Conference April 2020
• Conference Location: Sanibel Harbour Marriott Resort and Spa - Fort Myers, Florida, USA
• Acceptance Date: Feb 16, 2020
• Deposit Date: Mar 24, 2020
• Publicly Available Date: Jun 19, 2020
• Publisher URL: https://www-rics-org.salford.idm.oclc.org/uk/news-insight/research/cobra-at-ares-2020/
• Additional Information: Access Information : This paper was accepted for presentation at conference but the conference was cancelled due to the coronavirus outbreak.; Event Type : Conference