Defining megaprojects: learning from construction at the edge of experience
Molly Kovaka, Fall 2004
Brief:
Construction megaprojects have been undertaken with increasing frequency in the past century. Many of these projects have experienced high cost overruns, extensive delays, and heated conflicts. To this point, numerical thresholds around $1 billion have been used to define megaprojects, however, the characteristics that elevate a project to mega-status are much more complex than simply project cost. Formulation of a transparent, relevant, and useful definition of "construction megaproject" is the primary subject of this thesis. A project metric is developed as a basis for comparative studies, using five common megaproject characteristics. In addition, the framework for a descriptive and comparative megaproject tool is developed. Six megaproject case studies are presented, evaluated using the proposed definition and megaproject tool as methodological framework. Conclusions about the critical importance of two megaproject characteristics, risk and ideals, were drawn from the case studies.