What Are the Causes and Cures of Poor Megaproject Performance? A Systematic Literature Review and Research Agenda

Denicol, Juliano; Davies, Andrew; Krystallis, Ilias

doi:10.1177/8756972819896113

Cited by 159 publications

(124 citation statements)

References 133 publications

(193 reference statements)

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“…Atkinson (1999) advocated the need for considering additional project performance criteria besides cost, quality, and time such that long-term benefits to the organization and stakeholders could be exclusively captured. This conceptualization of project performance could justify the rationale behind undertaking complex projects and embracing complexity, because although complex projects generally result in cost and time overruns (Denicol et al, 2020; Williams, 2017), the strategic importance of such projects outweighs other conventional performance criteria. In this article, we adopt this notion of embracing a wide range of performance dimensions and conceptualize project performance as the overall performance of a project encompassing both short-term and long-term performance criteria.…”

Section: Introductionmentioning

confidence: 99%

Impact of Risk Attitude on Risk, Opportunity, and Performance Assessment of Construction Projects

Qazi

Daghfous

Khan

2021

Project Management Journal

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This article explores the impact of risk attitude on the assessment of project uncertainty encompassing both risk and opportunity and expected project performance. A survey was conducted involving project risk management experts from the construction industry, and the data collected were analyzed using various statistical techniques. The findings reveal that the impact of risk attitude significantly varies across multiple dimensions of project uncertainty and project performance. To the best of the authors’ knowledge, the association between risk attitude and project uncertainty and expected performance assessments has never been explored while capturing multiple dimensions of project uncertainty and performance.

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Section: Introductionmentioning

confidence: 99%

Impact of Risk Attitude on Risk, Opportunity, and Performance Assessment of Construction Projects

Qazi

Daghfous

Khan

2021

Project Management Journal

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“…Bounded rationality is often cited in project studies as a causal mechanism of poor infrastructure project performance [19]. Causal mechanisms are a central element of our study and refer to "a constellation of entities and activities that are organized such that they regularly bring about a particular type of outcome, and we explain an observed outcome by referring to the mechanism by which such outcomes are regularly brought about."…”

Section: Real Options Reasoning In Complex Projectsmentioning

confidence: 96%

“…Our study offers four broad theoretical implications related to ROR. First, prior to our study, there have been few attempts to formulate perspectives that allow the simultaneous study of multiple causes of an inadequate development process [19], [28], [62]. In addition, few studies have shown that decision-makers apply the logic of real options in project settings [4], [16], [43].…”

Section: Theoretical Implicationsmentioning

confidence: 99%

Talking About Futureproofing: Real Options Reasoning in Complex Infrastructure Projects

Krystallis¹,

Locatelli

Murtagh³

2022

IEEE Trans. Eng. Manage.

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Complex infrastructure projects often attract criticism regarding their short-and long-term performance. An effective development process requires thinking about both present and future requirements. We employed the lens of real options reasoning to investigate the power of verbal theorizing, without the aid of analytical modeling, to add flexibility in the development process. Drawing on 32 semi-structured interviews with decision-makers involved in health estate projects, we examined if and how informal talks in the development process can lead to futureproof outcomes. Our findings synthesize and conceptualize relevant insights on iterative design thinking, affordability, bounded rationality, and motivational gaps as causal mechanisms for futureproofing talks and thus real options reasoning. The paper contributes to the planning and project studies literature dealing with futureproofing complex infrastructure projects.

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“…Despite an increasing volume of works, megaprojects still seem to underperform. Denicol, Davies and Krystallis (2020) in their review of megaproject literature maps 54 different cures corresponding to 18 causes of poor performance. The poor performance of these projects after the presence of the cures within the literature shows the gap between knowing and doing.…”

Section: Knowing-doing Gapmentioning

confidence: 99%

4D visualization to bridge the knowing-doing gap in megaprojects: an Australian case study

Datta¹,

Sergeeva

Sankaran

2020

CEB

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The literature on megaprojects are oriented towards ‘knowing’ the problems and ‘knowing’ the solutions, and there is a dearth in literature aimed at explaining strategies adopted in ‘doing’ or implementing that knowledge. Particularly, the literature highlights communication as important as part of the ‘knowing,’ while there is a gap in ‘doing,’ as performance improvements are still not evident. This research aims to explore how this knowing-doing gap in the communication of risk information was addressed by using 4D visualization. This article discusses the vent facility of a megaproject in Australia as a case study to illustrate the innovation. The 4D model developed for the facility helped the project team to visualize the construction of a critical part of the project, discuss the construction methodology, identify the risks in the construction process and persuade the non-technical decision-makers of the project to take appropriate action. The risks identified through the visualization covered safety, program, and interface risks. This study offers insights into the role of visualization in bridging the knowing-doing gap in the construction industry in the context of a megaproject.

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What Are the Causes and Cures of Poor Megaproject Performance? A Systematic Literature Review and Research Agenda

Cited by 159 publications

References 133 publications

Impact of Risk Attitude on Risk, Opportunity, and Performance Assessment of Construction Projects

Impact of Risk Attitude on Risk, Opportunity, and Performance Assessment of Construction Projects

Talking About Futureproofing: Real Options Reasoning in Complex Infrastructure Projects

4D visualization to bridge the knowing-doing gap in megaprojects: an Australian case study

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