Industrial Megaprojects: Concepts, Strategies, and Practices for Success

by Edward W. Merrow

Overview

The most up-to-date edition of the bestselling text on megaprojects

In the newly revised second edition of Industrial Megaprojects Revisited: Concepts, Strategies, and Practices for Success, 2nd Edition , veteran megaproject valuator Edward Merrow delivers an accessible and authoritative discussion of why megaprojects frequently go over budget, past their deadlines, or result in safety compromises. You’ll explore project management deficiencies, destructive team dynamics, weak accountability systems, short-term biases, and technical expertise gaps and, more importantly, learn how to avoid or address these pitfalls in the real world.

This latest edition offers extensive new material on renewable energy and decarbonization projects, as well as:

• Clear, nontechnical explanations of why major projects tend to get into trouble
• Strategies to avoid hazardous and costly errors in the high-stakes megaproject environment
• A comprehensive collection of tools, tips, principles, and frameworks to take a megaproject from start to finish without compromising on safety, blowing the budget, or exceeding the deadline

An essential resource for engineers and industry professionals and executives, Industrial Megaprojects remains the gold standard on the subject. It also belongs in the libraries of finance and banking professionals who regularly fund these projects, and academics who research them.

Product Details

ISBN-13:	9781119893189
Publisher:	Wiley
Publication date:	07/31/2024
Sold by:	JOHN WILEY & SONS
Format:	eBook
Pages:	496
File size:	11 MB
Note:	This product may take a few minutes to download.

About the Author

EDWARD W. MERROW is the founder and CEO of Independent Project Analysis, Inc., the world’s leading evaluator of billion-dollar “megaprojects.” IPA benchmarks cost, schedules, safety, start-up, and operational performance with megaprojects, and determines whether they are competitive and whether their project management practices are likely to lead to success or failure.

Read an Excerpt

catalogimages.wiley.com/images/db/pdf/9780470938829.excerpt.pdf

Table of Contents

Preface ix

Acknowledgments xi

Why Megaprojects Fail So Often— Seven Key Mistakes 1

Part 1 Success Is Elusive 9

1 Megaprojects— Creators and Destroyers of Capital 11

2 Data and Methods 25

3 Project Outcomes and Trends 45

4 The Roads to Ruin— The Mechanics of Failure (and Success) 71

Part 2 The Three Work Streams 95

5 An Introduction to the Shaping Stream 101

6 Shaping Step 1— Understand the Context 109

7 The Next Steps— From Context Knowledge to Project Shape 135

8 Devising the Shaping Strategy 169

9 Basic Data Are Basic 207

10 Project Definition— Getting the Front- End Right 235

Part 3 People Do Projects 297

11 Megaprojects Teams 299

12 Organizing Megaproject Teams 339

Part 4 Getting It Done 353

13 Contracting 355

14 The Control of Execution Risk 407

Part 5 Finishing Up 435

15 Project Governance 437

16 Focus on Success 449

Glossary and Acronyms 459

Index 463