Industrial Megaprojects: Concepts, Strategies, and Practices for Success 2nd edition

"Over half of large-scale building projects such as renewable energy installations; drilling platforms, chemical plants, dams, etc., have miserably poor results: billions of dollars in overruns, long delays in design and construction, and poor operability of plant once finally completed. They occasionally make the news, e.g., BP's fiasco in the Gulf of Mexico or Shell's $10 billion+ overrun on the Sakhalin 2 project in Eastern Russia. But for obvious reasons, companies prefer to bury the disasters with as little publicity as possible. The fact that the projects are having such a rough time being completed successfully is very well-known to the managements of the companies involved, and they are deeply concerned about a future that features so many of these problematic projects. This second edition of the bestselling book on megaprojects includes extensive new material on renewable energy and decarbonization projects. It explains the underlying causes of over budget, delayed, and unsafe megaprojects: poorproject management, destructive team behaviors, weak accountability systems, an almost pathological focus on the short-term, and unwillingness to invest in deep technical expertise"--
The most up-to-date edition of the bestselling text on megaprojects In the newly revised second edition of Industrial Megaprojects Revisited: Concepts, Strategies, and Practices for Success, 2nd Edition , veteran megaproject valuator Edward Merrow delivers an accessible and authoritative discussion of why megaprojects frequently go over budget, past their deadlines, or result in safety compromises. You’ll explore project management deficiencies, destructive team dynamics, weak accountability systems, short-term biases, and technical expertise gaps and, more importantly, learn how to avoid or address these pitfalls in the real world. This latest edition offers extensive new material on renewable energy and decarbonization projects, as well as: Clear, nontechnical explanations of why major projects tend to get into trouble Strategies to avoid hazardous and costly errors in the high-stakes megaproject environment A comprehensive collection of tools, tips, principles, and frameworks to take a megaproject from start to finish without compromising on safety, blowing the budget, or exceeding the deadline An essential resource for engineers and industry professionals and executives, Industrial Megaprojects remains the gold standard on the subject. It also belongs in the libraries of finance and banking professionals who regularly fund these projects, and academics who research them.