Download or read book An Institutional Economics Approach to Megaproject Construction Contracts written by Juan Alberti and published by Inter-American Development Bank. This book was released on 2019-07-19 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper shows that there is an opportunity to use an institutional economics approach to the analysis of the challenges around megaproject construction contract development. It shows, firstly, that this approach is useful to analyze the reasonability of using particular contractual functions and clauses to deal with megaproject complexity. Specifically, although it is here recognized that complexity justifies the use of coordination and adaptation clauses, it is also alleged that safeguarding clauses may or may not be useful as complexity rises because this depends on the relationship between maladaptation costs and transaction costs, both related to the institutional environment. Secondly, this paper also alleges that new institutional economics is a helpful framework to analyze the prioritization of the underlying factors that determine the criteria used to assess and select contracting methods.This document illustrates that the decision of the procuring method needs to be fundamentally addressed by analyzing the sponsors’ characteristics and objectives. This is aligned with the fact that the decision regarding which contracting method to apply should consider the potential minimization of transaction costs, by adjusting governance to the nature of the transaction.

Download or read book The Institutional Environment of Megaproject Planning and Appraisal written by Juan Alberti and published by Inter-American Development Bank. This book was released on 2019-07-19 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper compares the contributions of three different approaches to the analysis of the institutional environment of transport policy development and megaproject planning and appraisal: the sociological approach to institutions; the political new institutionalism; and new institutional economics. It shows that institutions have been usually understood in different ways by these fields, emphasizing different elements of this relevant subject. It is here recommended to follow Scott (2012) who claims that while one approach may be more suited to study a particular dimension, others may be better suited to study other dimensions. This author claims that there are three pillars of institutions: cultural-cognitive elements, normative elements and regulative elements. They are linked to the abovementioned approaches. The cultural-cognitive element is related to symbols (including words, signs, and gestures), which shape the meaning of objects and activities, the normative element is associated with rules that introduce a prescriptive, evaluative and obligatory dimension into social life, and the regulative elements refer to rule-setting, monitoring and sanctioning activities. his paper shows that the key to understand the challenge of analyzing the institutional environment of megaproject planning and appraisal is to be aware of the different institutional elements in place, and to use the most suited approach to analyze each one of them. Moreover, it also illustrates that there are no “pure cases” where only one element is responsible for the outcomes, and depending on the pillar under analysis, one of the abovementioned approaches to institutions may be more suited as a conceptual framework to thoroughly analyze the problem.

Download or read book Decision making on Mega projects written by Hugo Priemus and published by Edward Elgar Publishing. This book was released on 2008-01-01 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: It will be useful for those experienced and senior professionals who are charged with authorizing and controlling projects. Recommended. P.F. Rad, Choice Building on the seminal work of Bent Flyvbjerg, this book is a collection of expert contributions that will prove essential to anyone wanting to understand why mega-projects go wrong and how they can be made to work better. Professor Sir Peter Hall, University College London, UK This book offers a refreshing and fascinating look at mega-projects from the perspective of public evaluation and planning. With the changing role of the public sector in planning and implementing large-scale projects and a subsequent strong emergence of private public modes of operation, mega-projects have become a problematic phenomenon. This volume is a major source of information and reference. It provides the reader with unique insights and caveats in mega-projects planning. Peter Nijkamp, VU University Amsterdam, The Netherlands This book enlarges the understanding of decision-making on mega-projects and suggest recommendations for a more effective, efficient and democratic approach. Authors from different scientific disciplines address various aspects of the decision-making process, such as management characteristics and cost benefit analysis, planning and innovation and competition and institutions. The subject matter is highly diverse, but certain questions remain at the forefront. For example, how do we deal with protracted preparation processes, how do we tackle risks and uncertainties, and how can we best divide the risks and responsibilities among the private and public players throughout the different phases of the project? Presenting a state-of-the-art overview, based on experiences and visions of authors from Europe and North America, this unique book will be of interest to practitioners of large-scale project management, politicians, public officials and private organisations involved in mega-project decision-making. It will also appeal to researchers, consultants and students dealing with substantial engineering projects, complex systems, project management and transport infrastructure.

Download or read book The Oxford Handbook of Megaproject Management written by Bent Flyvbjerg and published by Oxford University Press. This book was released on 2017 with total page 625 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook provides state-of-the-art scholarship in the emerging field of megaproject management. The 25 chapters cover all aspects of megaproject management, from front-end planning to project delivery, including how to deal with stakeholders, risk, finance, complexity, innovation, governance, ethics, project breakdowns, and scale itself.

Download or read book Urban Megaprojects written by Gerardo del Cerro Santamaria and published by Emerald Group Publishing. This book was released on 2013-06-06 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses the economic and political conditions that facilitate megaproject implementation and what are the impacts on urbanity and livability of such costly mode of urban development. It includes contributions from sociologists, planners, geographers and architects making it a truly multidisciplinary project.

Download or read book An Institutional Approach to the G ta kanal written by Björn Hasselgren and published by Springer Nature. This book was released on 2023-12-25 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is based on an institutional evolutionary theoretical view to the Göta kanal. Canals were the major transport infrastructure system besides roads and maritime transport until railroads were introduced. The canal studied is the Swedish Göta kanal project during the preparation and construction phase from 1800–1832. Thus, the Göta kanal, and the canal-era, is seen from a technological, an economic and a political perspective. Comparisons are made with two contemporary major canal-projects; the Erie Canal in the USA (1817–1825) and the Caledonian Canal in Britain (1804–1822). It is argued that the Göta kanal project, as Sweden's Mega Project of its time, represented an important development step in Sweden as regards learning and innovation and became a starting point for Swedish transport infrastructure projects in the time to come, primarily the railways.

Download or read book Routledge Handbook of Collaboration in Construction written by Sina Moradi and published by Taylor & Francis. This book was released on 2024-08-06 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: This innovative Handbook aims to look at the logic, various dimensions, and implications of collaboration in construction. It opens with a conceptualization of collaboration and its accompanying terms (i.e., cooperation and coordination) and continues with chapters in Part I which discuss the theoretical grounds of collaboration between individuals and organizations from the viewpoints of an impressive variety of relevant disciplines including organizational science; anthropology; law; economics; design; and production. This is followed by discussions of the essence and value of collaboration in construction in Part II through explaining the role of collaborative project delivery methods and their benefits in advancing collaboration, describing the competency profile of project managers for collaborative construction, explaining key drivers and barriers of collaboration in construction, and explaining practices as well as challenges of measuring collaboration in construction. Then, in Part III, case projects are employed to explain the benefits of collaboration in different levels of team, project, and business, to discuss the role and impact of collaboration on site and bridging the divide between construction and facility management, to discuss the role of digitalization in facilitating and advancing collaboration, to explain collaboration in decision making, to present examples of collaborative visual management, and to outline the implications of stakeholders' early involvement and collaboration for project success. Finally, consideration is given to the future of collaboration in construction to conclude the book. This Handbook is key reading for a broad ranging audience within the fields of construction, project, infrastructure and engineering management, organisational science, economics, and business management.

Download or read book Megaprojects and Risk written by Bent Flyvbjerg and published by Cambridge University Press. This book was released on 2003-02-13 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: Megaprojects and Risk provides the first detailed examination of the phenomenon of megaprojects. It is a fascinating account of how the promoters of multi-billion dollar megaprojects systematically and self-servingly misinform parliaments, the public and the media in order to get projects approved and built. It shows, in unusual depth, how the formula for approval is an unhealthy cocktail of underestimated costs, overestimated revenues, undervalued environmental impacts and overvalued economic development effects. This results in projects that are extremely risky, but where the risk is concealed from MPs, taxpayers and investors. The authors not only explore the problems but also suggest practical solutions drawing on theory, experience and hard, scientific evidence from the several hundred projects in twenty nations and five continents that illustrate the book. Accessibly written, it will be the standard reference for students, scholars, planners, economists, auditors, politicians and interested citizens for many years to come.

Download or read book Advanced Construction Project Management written by Christian Brockmann and published by John Wiley & Sons. This book was released on 2020-12-31 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: An essential guide to the structure, dynamics, and management of construction megaprojects Advanced Construction Project Management is a comprehensive resource that covers the myriad aspects of implementing a megaproject from a contractor’s perspective. With many years’ experience of managing construction megaprojects, the author provides an in-depth exploration of the structure, dynamics and management of these demanding projects. In addition, the book gives all stakeholders a clear understanding of the complexity of megaprojects and offers contractors the insight and essential tools needed for achieving results. As the trend to plan and implement ever-larger projects looks likely to continue into the future, the need for a guide to understand the challenges of managing a megaproject couldn’t be greater. Comprehensive in scope, the book explores the theoretical background, economics, complexity, phases, strategic planning, engineering, coordination, and common challenges of megaprojects. The book also provides the tools for managing stakeholder integration. This important book: Describes the structure, dynamics and management of megaprojects Explores the management activities required and examines the appropriate tools for the management of megaprojects Includes tools for stakeholder integration Provides an advanced understanding of construction management concepts Written for managers, project managers and engineers, and cost consultants, Advanced Construction Project Management covers, in one complete volume, the information needed to lead a successful project.

Download or read book Advanced Construction Project Management written by Christian Brockmann and published by John Wiley & Sons. This book was released on 2020-12-15 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: An essential guide to the structure, mechanics, and dynamics of construction megaprojects Advanced Construction Project Management is a comprehensive resource that covers the myriad aspects of managing a megaproject from a contractor’s perspective. The author—a noted expert on the topic—provides an in-depth exploration of the structure, mechanics, and dynamics of construct megaprojects. In addition, the book gives all stakeholders in the process a clear understanding of the complexity of megaprojects and offers contractors the core concepts and essential management tools needed for achieving sterling results. While the trend to plan and implement ever-larger projects looks likely to continue into the future, the need for a guide to an understanding of the challenges of managing a megaproject couldn’t be greater. Comprehensive in scope, the book explores the theoretical background, economics, complexity, phases, strategic planning, engineering, coordination, and common challenges of megaprojects. The book also provides the tools for managing stakeholder integration. This important book: Describes the structure, mechanics, and dynamics of megaprojects Explores the management activities required and examines the appropriate tools for the management of megaprojects Includes tools for stakeholder integration Provides an advanced understanding of construction management concepts Written for managers, project managers and engineers, and cost consultants, Advanced Construction Project Management offers in one complete volume the much-needed information needed to lead a successful project.

Download or read book Construction Incentivization written by Sai On Cheung and published by Springer Nature. This book was released on 2023-05-23 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book proposes ways to make construction project incentive schemes effective. In this book, construction incentivization is used as a collective term that includes all forms of incentive arrangements aiming to engender extra effort of the contracting parties for the improvement of project performance. This book addresses two questions: i) why so many construction incentive schemes are not delivering the desired outcome? and ii) what will make incentive works under different circumstances? This book contributes to the body of knowledge in construction incentivization by offering conceptualization, showcases and practice suggestions including guidelines for the planning of construction incentive schemes.

Download or read book The Oxford Handbook of Megaproject Management written by Bent Flyvbjerg and published by Oxford University Press. This book was released on 2017-06-01 with total page 634 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Oxford Handbook of Megaproject Management provides state-of-the-art scholarship in the emerging field of megaproject management. Megaprojects are large, complex projects which typically cost billions of dollars and impact millions of people, like building a high-speed rail line, a megadam, a national health or pensions IT system, a new wide-body aircraft, or staging the Olympics. The book contains 25 chapters written especially for this volume, covering all aspects of megaproject management, from front-end planning to actual project delivery, including how to deal with stakeholders, risk, finance, complexity, innovation, governance, ethics, project breakdowns, and scale itself. Individual chapters cover the history of the field and relevant theory, from behavioral economics to lock-in and escalation to systems integration and theories of agency and power. All geographies are covered - from the US to China, Europe to Africa, South America to Australia - as are a wide range of project types, from "hard" infrastructure to "soft" change projects. In-depth case studies illustrate salient points. The Handbook offers a rigorous, research-oriented, up-to-date academic view of the discipline, based on high-quality data and strong theory. It will be an indispensable resource for students, academics, policy makers, and practitioners.

Download or read book Complexity and Sustainability in Megaprojects written by Edoardo Favari and published by Springer Nature. This book was released on 2023-05-31 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book showcases the discussion about megaprojects carried out at the MeRIT (Megaproject Research Interdisciplinary Team) workshop 2022: the crisis, discontinuity, rising prices, and supply chains disruption force radical reflection for those involved in megaprojects. It raises a modern-day challenge, the creation of value for stakeholders. Indeed, the aim of the volume is to encourage readers to think more broadly, articulately and less stringently than the mainstream claims. There is a need to design, implement, and manage megaprojects by abandoning the old paradigm that leveraged solely on time and cost. We need to move beyond that by going to explore the value generated, the positive impact on people, communities and territories. Economic, social and environmental sustainability takes on a new and broader articulation: issues of the circular economy applied to megaprojects are addressed and ample space is ensured for the inclusion of social needs in current practices.

Download or read book The Oxford Handbook of Project Management written by Peter W. G. Morris and published by OUP Oxford. This book was released on 2012-07-19 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Oxford Handbook of Project Management presents and discusses leading ideas in the management of projects. Positioning project management as a domain much broader and more strategic than simply 'execution management', this Handbook draws on the insights of over 40 scholars to chart the development of the subject over the last 50 years or more as an area of increasing practical and academic interest. It suggests we could be entering an emerging 'third wave' of analysis and interpretation following its early technical and operational beginnings and the subsequent shift to a focus on projects and their management. Topics dealt with include: the historical evolution of the subject; its theoretical base; professionalism; business and societal context; strategy; organization; governance; innovation; overruns; risk; information management; procurement; relationships and trust; knowledge management; practice and teams. This handbook is of particular relevance to those interested in the research issues underlying project management.

Download or read book Megaproject Leaders written by Nathalie Drouin and published by Edward Elgar Publishing. This book was released on 2021-02-26 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: Megaproject Leaders brings together 18 prominent academics who interviewed 16 great megaproject leaders originating from 10 different countries. Based on a reflective methodological approach, these chapters investigate the managing of megaprojects from a human perspective, identify new trends in the managing of megaprojects and identify lessons learned from the personal views of the interviewees. The novel ideas presented will appeal to academics, practitioners and university students.

Download or read book The Soft Power of Construction Contracting Organisations written by Sai On Cheung and published by Routledge. This book was released on 2015-01-09 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: Across the AEC industry, the non-technical skills possessed by organisations are key to their overall performance. In this study, the particular importance of optimising the so-called "soft power" of organisations, is addressed. Things like organisational culture, responsible corporate behaviour, and building trust-based relationships with other stake-holders are seen as facets of a broader organisational capability, and the advantages of this strength are also explored. The internationally conducted research behind this book will provide readers with new insights into effective management, from both inter and intra organisational perspectives. This unique and important book is essential reading for researchers and advanced students of construction management.

Download or read book Research Handbook on Complex Project Organizing written by Graham M. Winch and published by Edward Elgar Publishing. This book was released on 2023-01-19 with total page 423 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Research Handbook provides a cutting-edge review of complex project organizing (CPO), and suggests fruitful avenues for future research with a focus on grand challenges and a sustainable future.