Managing Uncertainty in Megaprojects
Underperformance is a common threat to megaproject managers and the track record of cost and time overruns in these projects is well documented. While front end planning is important, not all events and scenarios can be foreseen when the project can take several years to complete and may involve many companies and stakeholders. In our research we find that the capacity to adapt to this uncertainty during the life of the project is crucial for megaproject performance but it is often overlooked as a capability. Using a case study of the construction of a US$20 billion dollar project we show that project leaders play an important role in recognizing when a plan needs to change and then navigating the path onto a new project plan without disrupting the delivery of the project.
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Acknowledgements: Kimberly Whitby and Derrick May