Megaprojects from the lens of business and management studies: A systematic literature review

Abstract

Megaprojects serve as the foundation of societal progress, providing essential infrastructure for a country's development and meeting its societal needs. There is a growing interest within the academic community to untangle the complex nature of megaprojects. This study conducts a comprehensive systematic literature review on megaprojects from the perspective of business, management, and accounting studies to provide a general map of the research conducted in this field and to highlight gaps for future research. The findings reveal thematic areas, including (i) sustainable development and decision‐making, (ii) governance approach, (iii) project management, (iv) risk assessment, and (v) economic and social effects/social responsibility. Moreover, identified gaps encompass limited consideration of the use/operation and end‐of‐life phases, inadequate evaluation of environmental and social impacts in economic terms, insufficient focus on sustainability reporting, inclusive governance, and using novel methodologies for complex system analysis in the field of megaprojects.