Megaproject

On some project events PM and his team can get surprise in the form of external events which create problems in project performance. However project are present because of external environment. So PM should be responsive to it.External environment includes latest state of art technology in which project is based, itscustomers and competitors .Its geographical, social, politicalsettings. All above mentioned factors are enough to affect planning, staffing, organizing, directing which contains PM’s responsibility. Most projects are intended to impact in one way or another. This is true particularly for construction projects. So project to be ultimately successful PM should take in to account this interdependency. If project takes number of years to complete it will have high amount of uncertainty or risk surrounding the project as result of its external environment. If greater is the uncertainty for project manager greater is the challenge for him or her and their team. Developing the sound stakeholder environment is one of the key factor of managing external environment for project managers.PM should learn the role of stakeholders and how their performance on the project. He or she should identify real nature of each stakeholder group and their interest in the project. Also should understand their behavior and motivation. Moreover how they react for particular situation. Good public relation is also important task which need to be accomplished by PM.Mainly if…

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…

egaproject Paradox Issues in the O&M Phase of a Megaproject The occurrence of "The Megaproject Paradox" and issues associated with its occurrence, are not limited to the Execution Phase of a Megaproject's Life Cycle. In this article, an analysis of the impact of "The Megaproject Paradox" occurring in the Operations and Maintenance Phase of the Life Cycle of a complex Megaproject, the Australian National Electricity Market (NEM) is considered. It is recommended that Parts 1, 2.1 and 2.2 are…

which means any changes to the contract would cost more. In any planning of a project, it is imperative to assess organizational's external and internal environment, and the planning team should explore what challenges that this project would encounter. Consequently, the projects faced various environmental and engineering barriers while in middle of the project. Moreover, the implementation not conducted accurately, and the project's prime contractor had contracted some of the projects to…

their moral since they were considered to be the "breadwinner" of families. Industries that developed in the post-war years also helped shaped and even change the economy. Resource industries became a must in the economy since there were high demands for natural resources during that time. For instance, southern Ontario became the heart of Canadian manufacturing since it had more than half of Canadian factories and plants and 99 percent of its automobile which attracted many consumers. With more…

The Central Artery/Tunnel Project (CA/T), commonly referred to as the Big Dig, was a construction megaproject that took place in Boston, Massachusetts from 1982 to 2007 [1]. While there were many aspects to the project, the main goal of the project was to replace large parts of the highway infrastructure in the center of the city. The project has become infamous for vastly exceeding its intended budget. The initially estimated budget and completion date of $2.8 billion and 1998 ballooned…

Part 1: Heathrow Terminal 5 (T5) was one of Europe’s largest and most complex construction project. The objective was to increase the airports capacity from 67 million passengers per year to 95 million. The overall expenditure of the project amounted to £4.6 billion; the key successes of the project were: timely completion schedules, adherence to budget and excellent safety records. The construction of T5 represented a breakthrough in megaproject management in the United Kingdom. T5 was a…

facility’s revenue stream to clear the company’s debt and provide a profitable rate of income for its efforts and risks contribute to the duration of the concession period. Private company act as owner during the concession period. While after the period, the ownership and the operation of the project will be transfer back to the government without incurring any cost. BOT is enabled the government to launch a project with limited resources through the fund of a private sector and transfer the…

The changing role of modern project management In recent times, declining oil prices have given rise to a drop in the level of activity in both major and emerging African oil and gas markets, including Nigeria, the continent’s biggest oil producer. Consequently, industry operators are facing challenging times as reflected in reductions in headcount and other cost-cutting measures that are being implemented across the industry. Nevertheless, exciting opportunities including megaprojects in the…

with John England, vice chairman and U.S. Oil & Gas leader for Deloitte LLP discusses North America 's energy renaissance. He elaborates on some of the favourable circumstances and disputes in the oil and gas industry. He mentions that the investors should look out ahead for the year and places where they can concentrate their investing their resources on. He mentions that the economy is very competitive and expenditures are high. See text-reference below. "The global industry 's rivalry for…