Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

Measuring the readiness of a megaproject

Measuring the readiness of a megaproject A vast proportion of global megaprojects have not performed up to the expectations of their stakeholders. A failed megaproject has the potential even to derail the economy of a country where it was implemented. Stakeholders must, therefore, ensure that they do not invest in megaprojects that are bound to fail. But, how can stakeholders consistently identify such megaprojects? This paper develops a framework for a metric that can help stakeholders measure the readiness of a megaproject.Design/methodology/approachA comprehensive literature review identified 19 critical success factors of megaprojects. These success factors were integrated into a fuzzy-based model to develop the megaproject readiness metric. An assessment team studied the levels of presence and importance of these success factors in a candidate megaproject to derive its readiness.FindingsThe readiness-based model provides stakeholders valuable insights into the strong and weak areas of a megaproject. It can help stakeholders prioritize and systematically eliminate the identified weaknesses and improve megaproject readiness. While the model was tested on a metro rail megaproject, it can be used on any megaproject across domains.Originality/valueThis paper adopts the concept of readiness for the domain of megaprojects. Besides the readiness measurement framework, a vital contribution of this research is its application to a real-life case. Future research can include more granular success factors to improve the estimate of megaproject readiness. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Managing Projects in Business Emerald Publishing

Measuring the readiness of a megaproject

Download PDF
24 pages

Loading next page...
 
/lp/emerald-publishing/measuring-the-readiness-of-a-megaproject-SRuPQc0B2w
Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
1753-8378
DOI
10.1108/ijmpb-05-2020-0154
Publisher site
See Article on Publisher Site

Abstract

A vast proportion of global megaprojects have not performed up to the expectations of their stakeholders. A failed megaproject has the potential even to derail the economy of a country where it was implemented. Stakeholders must, therefore, ensure that they do not invest in megaprojects that are bound to fail. But, how can stakeholders consistently identify such megaprojects? This paper develops a framework for a metric that can help stakeholders measure the readiness of a megaproject.Design/methodology/approachA comprehensive literature review identified 19 critical success factors of megaprojects. These success factors were integrated into a fuzzy-based model to develop the megaproject readiness metric. An assessment team studied the levels of presence and importance of these success factors in a candidate megaproject to derive its readiness.FindingsThe readiness-based model provides stakeholders valuable insights into the strong and weak areas of a megaproject. It can help stakeholders prioritize and systematically eliminate the identified weaknesses and improve megaproject readiness. While the model was tested on a metro rail megaproject, it can be used on any megaproject across domains.Originality/valueThis paper adopts the concept of readiness for the domain of megaprojects. Besides the readiness measurement framework, a vital contribution of this research is its application to a real-life case. Future research can include more granular success factors to improve the estimate of megaproject readiness.

Journal

International Journal of Managing Projects in Business – Emerald Publishing

Published: May 20, 2021

Keywords: Critical success factors; Megaprojects; Fuzzy logic; Readiness; Change management; Assessment

References

  • Power plants as megaprojects: using empirics to shape policy, planning, and construction management
    Brookes, N.; Locatelli, G.
  • Critical factors impacting the performance of mega-projects
    Caldas, C.; Gupta, A.
  • A comparative study of causes of time overrun in Hong Kong construction projects
    Chan, D.; Kumaraswamy, M.
  • Cross-country comparisons of key drivers, critical success factors and risk allocation for public-private partnership projects
    Chou, J.; Pramudawardhani, D.
  • Obtaining mega performance on a megaproject
    Christiansen, J.
  • Project management evolution to improve success in infrastructure projects
    Cole, C.
  • Change readiness: focusing change management where it counts
    Combe, M.
  • Making innovation happen in a megaproject: London's cross rail suburban railway system
    Davies, A.; MacAulay, S.; DeBarro, T.; Thurston, M.
  • Measurement of project success
    de Witt, A.
  • "BMRCL did not stick to project plan: E Sridharan
  • Top government hands-on megaproject management: the case of Istanbul's grand airport
    Eren, F.
  • What you should know about megaprojects and why: an overview
    Flyvbjerg, B.
  • Introduction to special issue on ‘classics in maga project management’
    Flyvbjerg, B.; Turner, J.
  • Delusion and deception in large infrastructure projects – two models for explaining and preventing executive disaster
    Flyvbjerg, B.; Garbuio, M.; Lovallo, D.
  • Megaprojects set to explode to 24% of global GDP within a decade
    Frey, T.
  • Megaprojects as displacements
    Gellert, P.K.; Lynch, B.
  • Keeping it simple? A case study into the advantages and disadvantages of reducing complexity in mega project planning
    Giezen, M.
  • Analyzing schedule delay of mega project: lessons learned from Korea Train Express
    Han, S.H.; Yun, S.; Kim, H.; Kwak, Y.H.; Park, H.K.; Lee, S.H.
  • Readiness to change over time: change commitment and change efficacy in a workplace health-promotion trial
    Helfrich, C.D.; Kohn, M.J.; Stapleton, A.; Allen, C.L.; Hammerback, K.E.; Chan, K.C.G.; Parrish, A.T.; Ryan, D.E.; Weiner, B.J.; Harris, J.R.; Hannon, P.A.
  • Critical factors affecting schedule performance: evidence from Indian construction projects
    Iyer, K.; Jha, K.
  • Measuring the smartness of a library
    Jadhav, D.; Shenoy, D.
  • Managing global megaprojects: complexity and risk management
    Kardes, I.; Ozturk, A.; Cavusgil, S.; Cavusgi, E.
  • Delhi metro – a project management benchmark
    Kumar, K.
  • What can we learn from the Hoover Dam project that influenced modern project management?
    Kwak, Y.; Walewski, J.; Sleeper, D.; Sadatsafavi, H.
  • Delay and cost overruns in Vietnam large construction projects: a comparison with other selected countries
    Le-Hoai, L.; Lee, Y.; Lee, J.
  • Ecological economics and opening up of megaproject appraisal: lessons from megaproject scholarship and topics for a research programme
    Lehtonen, M.
  • Agility index in the supply chain
    Lin, C.; Chiu, H.; Chu, P.
  • Corruption in public projects and megaprojects: there is an elephant in the room!
    Locatelli, G.; Mariani, G.; Sainati, T.; Greco, M.
  • The successful delivery of megaprojects – a novel research method
    Locatelli, G.; Mikic, M.; Kovacevic, M.; Brookes, N.; Ivanisevic, N.
  • The influence of local community stakeholders in megaprojects: rethinking their inclusiveness to improve project performance
    Maddaloni, F.; Davis, K.
  • Revisiting the growth coalition concept to analyse the success of the cross rail London megaproject
    Mboumoua, I.
  • Critical drivers of megaprojects success and failure
    Mišić, S.; Radujković, M.
  • Assessing the readiness to implement lean in healthcare institutions – a case study
    Narayanamurthy, G.; Gurumurthy, A.; Subramanian, N.; Moser, R.
  • Change management on a mega project: a case study
    Nayar, S.
  • The most important aspect of project management today: determining readiness for change
    Rahschulte, T.J.; Herrli, W.; Herrli, D.
  • Understanding project success through analysis of project management approach
    Rolstadås, A.; Tommelein, I.; Schiefloe, P.; Ballard, G.
  • Megaprojects in transportation networks
    Rothengatter, W.
  • Fuzzy risk assessment for electro-optical target tracker
    Roy, S.; Sarkar, A.; Mahanty, B.
  • Complexity and transdisciplinarity: the case of iconic urban megaprojects
    Santamaría, G.C.
  • When do megaprojects start and finish? Redefining project lead time for megaproject success
    Sato, Y.; Eduardo, C.; Chagas, M.d. F.
  • The three secrets of megaproject success: clear strategic vision, total alignment, and adapting to complexity
    Shenhar, A.; Holzmann, V.
  • Lean Six Sigma – getting better all the time
    Snee, R.D.
  • Assessment of Lean Six Sigma Readiness (LESIRE) for manufacturing industries using fuzzy logic
    Sreedharan, R.; Raju, R.; Vijaya Sunder, M.; Antony, J.
  • Identification and evaluation of success factors for public construction projects
    Tabish, S.; Jha, N.
  • Determining attribute importance based on triangular and trapezoidal fuzzy numbers in (z)fuzzy measures
    Ting-Yu, C.; Tai-Chun, K.; Che-Wei, T.
  • Development and evaluation of five fuzzy multiattribute decision-making methods
    Triantaphyllou, E.; Lin, C.-T.
  • On the success of megaprojects
    Turner, J.; Xue, Y.
  • Effects of contractual flexibility on conflict and project success in megaprojects
    Wu, G.; Zhao, X.; Zuo, J.; Zillante, G.
  • Fuzzy sets
    Zadeh, L.
  • Fuzzy extension of TOPSIS model for group decision making under multiple criteria
    Anisseh, M.; Piri, F.; Shahraki, M.; Agamohamadi, F.
  • Measuring the strategic readiness of intangible assets
    Kaplan, R.; Norton, D.