Taming Giant Projects

Book excerpt: Giant projects often end in giant failures. From the ancient tower of Babel to the recent Transrapid Train, giant projects stumble from crisis to crisis. Based on an analysis of the technical, time, and financial goals from case studies (Olympic Games, university hospitals, and a huge wind energy converter), four success factors in managing giant projects are identified: Formulation and change of goals, basic configuration, socio-political environment, and management structure and capacity. The book focuses on the crucial role of the project owner and the relations among the four success factors. It offers recommendations and guidance on successfully completing giant projects to owners, project managers and contractors.