THEORETICAL APPROACH
Megaprojects
The Concorde, in the context of project management, was quite special as it was a joint partnership between two economically and culturally different states--England and France. Bent Flyvberg is one of the first academics to study megaprojects from a program management perspective in order to better understand the economic, social, and environmental impacts, which is what drives the organizational interest in our case study of the Concorde. This paper will use the framework of his megaproject management study in order to understand the plethora of issues that happened throughout the duration of the Concorde project by virtue of it being a ‘megaproject’. This section briefly explains why the Concorde project …show more content…
Jakob Arnoldi (2009) views risks as being potential dangers that contain a level of acceptance, are calculable, and knowable. However, in today’s world, risks has come to mean that they cannot be calculated and therefore are uncertain, which he clarifies as calculable risk and uncalculable uncertainty. Flyvberg et al. (2003) links the idea of megaproject development with the idea of risk management and we agree with the authors that there needs to be a recognition of risks with a level of accountability attached. While risks cannot be controlled, it is important for megaproject managers to understand how risks create positive and negative consequences that will affect the future of the project. While there is always an uncertainty to risks, the focus should be controlling the risks in order to better manage them. Later, we will return to risk to provide an analysis that suggest the Concorde planners failed to even consider the risks and uncertainties involved with the project. Risk, as a social construct, relates to human actions and decisions; thus, we will suggest that applying Ulrich Beck’s risk society theory, one that is orientated towards the future, will provide megaproject managers with the necessary toolkit in order to anticipate uncertainties that are bound to arise throughout the length of the
Megaprojects
The Concorde, in the context of project management, was quite special as it was a joint partnership between two economically and culturally different states--England and France. Bent Flyvberg is one of the first academics to study megaprojects from a program management perspective in order to better understand the economic, social, and environmental impacts, which is what drives the organizational interest in our case study of the Concorde. This paper will use the framework of his megaproject management study in order to understand the plethora of issues that happened throughout the duration of the Concorde project by virtue of it being a ‘megaproject’. This section briefly explains why the Concorde project …show more content…
Jakob Arnoldi (2009) views risks as being potential dangers that contain a level of acceptance, are calculable, and knowable. However, in today’s world, risks has come to mean that they cannot be calculated and therefore are uncertain, which he clarifies as calculable risk and uncalculable uncertainty. Flyvberg et al. (2003) links the idea of megaproject development with the idea of risk management and we agree with the authors that there needs to be a recognition of risks with a level of accountability attached. While risks cannot be controlled, it is important for megaproject managers to understand how risks create positive and negative consequences that will affect the future of the project. While there is always an uncertainty to risks, the focus should be controlling the risks in order to better manage them. Later, we will return to risk to provide an analysis that suggest the Concorde planners failed to even consider the risks and uncertainties involved with the project. Risk, as a social construct, relates to human actions and decisions; thus, we will suggest that applying Ulrich Beck’s risk society theory, one that is orientated towards the future, will provide megaproject managers with the necessary toolkit in order to anticipate uncertainties that are bound to arise throughout the length of the