Approaches to Managing Megaprojects
In conventional business and government megaprojects–such as hydroelectric dams, chemical-processing plants, or big-bang enterprise-resource-planning systems–the standard approach is to build something monolithic and customized. Such projects must be 100% complete before they can deliver benefits: Even when it’s 95% complete, a nuclear reactor is of no use. On the basis of 30 years of research and consulting on megaprojects, the author has found two factors that play a critical role in determining success or failure: replicable modularity in design and speed in iteration. The article examines those factors by looking at well-known megaprojects, both successful ones, and cautionary tales.
Using the megaproject case study answer the following:You have just read an awesome article about megaprojects and how to make them more modular. You are new to an organization managing their Portfolio Management Office (PMO) and have several projects that you feel meet the criteria of a “megaproject”. Given what you have learned from this article and your experience managing projects identify the following:
1. What would be your suggested approach to managing a megaproject?
2. What are the risks with your approach?