Project characteristics enabling the success of megaprojects: an empirical investigation in the energy sector

Locatelli, G. and Littau, P. and Brookes, N. J. and Mancini, M. (2014) Project characteristics enabling the success of megaprojects: an empirical investigation in the energy sector. Procedia - Social and Behavioral Sciences, 119 . pp. 625-634. ISSN 1877-0428

Full content URL: http://dx.doi.org/10.1016/j.sbspro.2014.03.070

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Item Type:Article
Item Status:Live Archive

Abstract

Megaprojects are extremely large-scale investment projects typically costing more than EUR 0.5 billion. They include power plants, infrastructural projects and even cultural events. Historical data show very poor performance for megaprojects. In particular they are often over-budget and/or behind schedule and, once finished, they deliver less benefits than planned. Despite the existing research in megaprojects, it is still unclear which project characteristics promote the delivery of successful megaprojects. This paper starts to tackle this issue focusing on energy projects and performing a cross-case analysis assessing how project characteristics are correlated with performance. The database is composed of 11 projects described by 50 characteristics categorised in 9 groups. The analysis assesses the correlation of the independent variables with the dependent performance variables expressed as spend against budget, delay in the planning phase of the project and delay in the execution phase of the project. The correlation is tested using the Fisher Exact test. The results show that there are few independent variables strongly correlated to the dependent variables. On the other hand several independent variables do not seem correlated to project performance. In the conclusions, the paper provides a rich research agenda for further investigations.

Additional Information:Selected papers from the 27th IPMA (International Project Management Association), World Congress, Dubrovnik, Croatia, 2013
Keywords:Megaprojects, Energy, Quantitative analysis, JCOpen
Subjects:J Technologies > J910 Energy Technologies
L Social studies > L111 Financial Economics
Divisions:College of Science > School of Engineering
ID Code:13754
Deposited On:07 Apr 2014 08:09

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