On the success of megaprojects
On the success of megaprojects
复制标题
论大型项目的成功
DOI:
10.1108/ijmpb-06-2017-0062
复制
发表时间:
2018
影响因子:
2.7
通讯作者:
Yan Xue
中科院分区:
文献类型:
--
作者:
J. Turner;Yan Xue
Purpose
The purpose of this paper is to develop a new model for the success of megaprojects. Megaprojects are often said to fail because they finish late and/or overspent. As megaprojects are usually complex, so small changes in input can lead to disproportionate changes in output. So the time and cost targets at the start can have little validity. They are useful targets, not values which can be used to judge success or failure. The authors suggest that a megaproject is a success if it produces a worthwhile result at a time and cost that makes it valuable.
Design/methodology/approach
The authors develop a new model for the success of megaprojects, and asses its applicability against a number of case studies from well-known sources.
Findings
The authors identify four dimensions of megaproject success: they produce an output at a time and cost that makes it valuable; they achieve the desired outcome and benefit at a time and cost that makes them valuable; they deliver positive net present value; and they deliver a business or public need at a time and cost which makes it valuable.
Research limitations/implications
The authors propose a new model for megaproject success that moves away from the so-called iron triangle or triple constraint, which are meaningless in the context of complex projects. Time and cost to completion cannot be predicted on complex projects. However, targets are required because a megaproject must produce a valuable outcome at a time and cost that makes it valuable.
Practical implications
The paper produces a new way of assessing the success of megaprojects which will lead to a larger number of megaprojects being assessed to be successful. It indicates what is truly important, that the megaproject should produce and outcome of value at a time and cost that makes it valuable.
Social implications
Megaprojects often produce benefits to society over and above the financial benefits. Often an economic benefit cannot be paced on these social benefits, which makes it problematic to assess the value of the project. In one of the cases economic value was placed on the social benefits, and the benefit:cost ratio was increased from 0.85 to 2.5.
Originality/value
The authors propose a new model for the success of megaprojects.