How To Fix Megaprojects

I, along with three of my colleagues, Billy Glennon (Group CEO, VISION), Connor Butler (Managing Principal, Relevate), Charles Spinosa (Group Director, VISION), have written a landmark paper on issues and breakdowns dealt with megaprojects, and how to fix them.

Less than one percent of megaprojects deliver the promised benefits on time and on budget. We explain why they go wrong, how you can fix them and why the fix works. We also show how these lessons can be applied to all capital projects of scale.

What is a megaproject?

Megaprojects are defined as capital projects costing $1bn or more. But there is a lot more to them than a price tag. We explore their other characteristics, why they’re essential to our communities, and how the lessons that we learn from them can be applied to all capital projects.

How to fix megaprojects?

We will take you through our proven four-step process for delivering all significant capital projects on time, on budget, and with all the promised benefits. This encompasses transformational leadership, transformational governance, the sharing of risks and rewards, and commitment-based management.

Why the fix works?

Leading a megaproject successfully is like running a small town. Our fix works because it recognizes the complexity of megaprojects, the importance of community building, and the reality that traditional management styles simply don’t cut it when it comes to capital projects of scale.

Originally published by Vision Consulting, the full paper can be downloaded here.