Novel Approach to Satisfying Stakeholders in Megaprojects: Balancing Mutual Values

Bahadorestani, Amir; Karlsen, Jan Terje; Farimani, Nasser Motahari

doi:10.1061/(asce)me.1943-5479.0000734

Cited by 45 publications

(23 citation statements)

References 95 publications

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“…Several authors define value as the relationship between the satisfaction of needs and the use of required resources [21,22] or as a balance between giving and receiving [23]. Other authors understand value as cost and prices or associate it with monetary terms [10,24].…”

Section: Generation and Loss Of Valuementioning

confidence: 99%

Exploring Value Generation in Target Value Design Applying a Value Analysis Model

et al. 2022

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Target value design (TVD) is a management approach that applies target costing in the design and construction industry. TVD enables a project environment with favorable characteristics to generate value. However, because the TVD’s primary assessment is cost, target cost can be met without necessarily achieving the project’s full value. This research applies the action research approach to implement TVD in a housing project and explores the value generation of the project using a value analysis model (VAM) to study the balance between cost and value fulfillment in the product and design process. According to the results, even though the target cost was achieved, the desired value of the project was not achieved during the project design. However, there is a tendency to increase value over time to a greater extent in the product and not so much in the process. The main contributions of this study are the possibility of comparing cost and value, identifying the emphasis of product over process and cost over value throughout the TVD project. This study enhances the literature on project value generation and maximization, offering new knowledge for a better understanding of how to conduct a value analysis in combination with costing in TVD projects.

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Section: Generation and Loss Of Valuementioning

confidence: 99%

Exploring Value Generation in Target Value Design Applying a Value Analysis Model

et al. 2022

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“…Additionally, most stakeholders often have different motives and interests, which has emerged as a complexity concern in a megaproject. For example, the challenge discussed by Wu, Jia and Zhang (2019) has been evident for the infrastructure trunk line between the Beijing and Shenyang megaproject in China, the Mashhad Urban Railway project in Iran (Bahadorestani, Karlsen & Farimani, 2020), the partnership alliance contract between the client and contractor in Main Roads Western Australia (Galvin, Tywoniak, & Sutherland, 2021), and in some large projects around the world as examined by Di Maddaloni and Davis (2017). In this study, these aspects were categorized as social complexity, in line with the term from the context of social dimension project complexity (Maylor & Turner, 2017).…”

Section: Complexity and Megaprojectmentioning

confidence: 99%

“…Rather than examining the value or the strength of the relationship between condition variables on the outcome/result, the configurational form or the combination of variables is analyzed. Following the given objectives, the "outcome" of this study is megaproject performance, namely, the short-term success targets (e.g., the iron triangle of time, cost, and quality) (Flyvbjerg, 2014) and long-term targets (e.g., client or customer satisfaction, team satisfaction, and community benefits) (Bahadorestani et al, 2020;Sato & Chagas Jr., 2014). These outcomes are analyzed in both high and low performance.…”

Section: Research Approachmentioning

confidence: 99%

Complexity, leadership, and megaproject performance: A configuration analysis

Damayanti

Hartono

Wijaya

2021

JIEM

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Purpose: Rapid worldwide growth in megaprojects has attracted academic interest. In practice, complexity is one of the main causes for the failure of megaprojects. This study proposes a system of project manager leadership to overcome problems of complexity in achieving success with a megaproject.Design/methodology/approach: This study uses configuration analysis, fuzzy-set qualitative comparative analysis (fsQCA), to investigate the combination of complexity and leadership competencies that promote megaproject success. This study analyzes three megaproject manager leadership competencies—technical, emotional–social and adaptive—with three megaproject complexities—structural, social and emergent—to determine the combinations and levels required to ensure a megaproject’s short- and long-term success. Seven Indonesian infrastructure megaprojects were involved in this explorative study.Findings: This study has identified four combinations between complexity and leadership competencies and three necessary conditions that can lead to a successful megaproject. This study also reports that insufficient project manager leadership competence in the technical, emotional-social, and adaptive aspects can lead to lower megaproject performance.Research limitations/implications: By using fsQCA, this study is sufficient to understand the combination of complexity and leadership competencies in the megaproject performance. However, configuration comparative analysis using small samples is unable to explain results that are more rigorous when compared with the statistical approach. Having higher cases and additional analytical approaches that can lead to a more robust quantitative analysis method is strongly needed to address these limitations.Practical implications: For practitioners, this study proposes effective leadership competency combinations for managing various complexities of the megaproject.Originality/value: This study provides an insight into the competencies of megaproject management leadership. This study contributes to the literature by providing fresh perspectives on megaproject management, especially in terms of complexity and leadership. This is an important research area for the development of megaproject management theory as it fills theoretical gaps in megaproject management in terms of the leadership aspect.

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“…It can avoid the impalpable and arbitrary result. Therefore, the analysis showed that the identified papers could be categorized into five clusters: megaproject management in general [29,[116][117][118][119], megaproject sustainability [27,34,[120][121][122][123], megaproject governance [22,[124][125][126][127][128][129], megaproject investment and finance [44,48,92,[130][131][132], and megaproject risk management [95,112,[133][134][135][136]. When the topic of a paper was related to multiple clusters, the paper was classified into the most closely related cluster.…”

Section: Research Topics Of the Identified Papers In Megaproject Management Researchmentioning

confidence: 99%

Megaproject Management Research: The Status Quo and Future Directions

Yuan

Wang

et al. 2021

Buildings

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Megaproject practices worldwide have triggered increasing research in megaproject management issues and led to an increasing number of papers being published during the last decade. However, it is demonstrated by the literature that there is no systematic examination on research development in the discipline of megaproject management, and consequently it is very difficult for scholars to quickly understand and grasp the research trend. Therefore, a research question naturally comes out, i.e., what is the status quo of megaproject management research and what are the research directions worthy of further investigation? This study aims to answer the question by conducting a systematic examination of the research development in the discipline of megaproject management. A total of 117 relevant articles, identified from six major international journals between 2009 and 2021, were analyzed based on the number of papers published annually, main author contributions, citations, categorization of the research methods and data analysis methods adopted, and research topics covered. The results indicated that developed countries, such as Australia, Canada, the United States, and the United Kingdom, have enjoyed significant advantages in terms of megaproject management research. It also revealed that more sophisticated views and theory have been used effectively, rather than only basic qualitative methods, in a number of studies on megaproject management. Future studies on megaproject management will be led globally, where megaprojects will remain designed and built to better built environments. In addition, continuous in-depth research on related topics can promote innovation in megaproject management to achieve sustainable megaproject development. Megaproject management will continue to be a hot research topic in the future; in particular, megaproject investment and finance management have emerged as new challenging topics. The findings can be valuable for both industry practitioners and researchers to gain deeper understanding of the current status and future directions of megaproject management research.

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Novel Approach to Satisfying Stakeholders in Megaprojects: Balancing Mutual Values

Cited by 45 publications

References 95 publications

Exploring Value Generation in Target Value Design Applying a Value Analysis Model

Exploring Value Generation in Target Value Design Applying a Value Analysis Model

Complexity, leadership, and megaproject performance: A configuration analysis

Megaproject Management Research: The Status Quo and Future Directions

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