Cover image for Megaproject Management : Lessons on Risk and Project Management from the Big Dig.
Megaproject Management : Lessons on Risk and Project Management from the Big Dig.
Title:
Megaproject Management : Lessons on Risk and Project Management from the Big Dig.
Author:
Greiman, Virginia A.
ISBN:
9781118418871
Personal Author:
Edition:
1st ed.
Physical Description:
1 online resource (498 pages)
Contents:
Cover -- Title Page -- Copyright -- Contents -- Author's Perspectives -- Acknowledgments -- Introduction to This Book -- Overview -- Key Concepts and Objectives -- Transparent Frameworks -- Organizational Structure -- Financial Structure -- Governance Structure -- Shared Values -- Collaborative Partnerships -- Pedagogy -- Cultural and Ethical Awareness -- Skill Building -- Course Structure -- Overview of Course Chapters -- References -- Chapter 1 Introduction to Megaprojects and the Big Dig -- Introduction -- Why Study Megaprojects? -- 1. Delivery of Lessons from Practice -- 2. Advancement of Knowledge and Innovation -- 3. Projects as an Engine for Economic Development -- 4. Global Expansion and Improvement of Societal Benefits -- 5. Fulfilling the Growing Need for Major Investment in Transportation and Energy -- 6. Improving Transparency and Oversight -- Projects, Programs, and Portfolios -- Megaprojects: The Literature -- Megaprojects in the United States -- Megaprojects around the World -- Characteristics of Megaprojects -- 1. Long Duration -- 2. Scale and Dimension -- 3. Type of Industry and Purpose -- 4. Design and Construction Complexity -- 5. Sponsorship and Financing -- 6. Life Cycle -- 7. Long, Complex, and Critical Front End -- 8. High Public Profile -- 9. Public Scrutiny -- 10. Pursuit of Large-Scale Policy Making -- 11. Project Delivery and Procurement -- 12. Continuity of Management -- 13. Technological and Procedural Complexity (Urban Design) -- 14. Organizational Structure -- 15. High Degree of Regulation -- 16. Multiple Stakeholders -- 17. Dynamic Governance Structures -- 18. Ethical Dilemmas and Challenges -- 19. Consistent Cost Underestimation and Poor Performance -- 20. Risk Management in Complex Projects -- 21. Socioeconomic Impacts -- 22. Cultural Dimension -- 23. Systems and Methodology Complexity -- 24. Environmental Impact.

25. Collaborative Contracting, Integration, and Partnering -- Megaproject Framework -- 1. Project Management in Practice -- 2. Project Management Strategies -- 3. Project Management Theory -- Lessons Learned -- Summary -- Ethical Considerations -- Discussion Questions -- References -- Chapter 2 History and Financing of the Big Dig -- Introduction -- The Vision -- The Pressing Need for the Big Dig -- Planning the Big Dig -- Engineering of the Big Dig -- Innovation and Problem Solving -- 1. Immersed Tubes -- 2. The Fort Point Channel -- 3. The Casting Basin -- 4. The Slurry Walls: -- 5. Cable-Stayed Bridge -- The Most Important Benefits of the Big Dig -- 1. Environmental Mitigation -- 2. Expansion of the Shellfish Population -- 3. Creation of Open Space -- 4. Reduced Traffic Congestion -- 5. Technology Transfer Program -- 6. Growth of Small, Women-, and Minority-Owned Businesses -- 7. Worker and Safety Innovations -- 8. National and International Recognition for Technological Advancement -- The Financing of Megaprojects -- Public-Private Partnerships -- 1. Structuring a Public-Private Partnership -- 2. The Big Dig: Public Finance -- 3. Eurotunnel: Private Finance -- 4. The Mozal Project: Public and Private Finance -- 5. Lessons Learned -- 7. The Big Dig Funding Plan -- Major Sources of Big Dig Funding -- 1. Federal Grant Anticipation Notes (GANs) -- 2. General Obligation Bonds (GOBs) -- 3. Transportation Infrastructure Fund (TIF) -- 4. Massachusetts Port Authority Bond Anticipation Notes (BANs) -- 5. Massachusetts Turnpike Authority (MTA) -- Big Dig Revenues by Source, Dollar Amount, and Percentage of Total Funding -- The Real Cost of a Megaproject -- Lessons Learned -- Summary -- Ethical Considerations -- Discussion Questions -- References -- Chapter 3 Stakeholders -- Introduction -- Defining the Stakeholder.

Stakeholder Principles -- Project Stakeholder Framework -- Steps in Stakeholder Framework Development -- Building the Relationship with Stakeholders -- Stakeholder Structures -- Role of the Stakeholder -- Stakeholder Management on the Big Dig -- The Big Dig's Key Stakeholders -- Conflicts of Interest among Internal Stakeholders -- Multiple Roles of Project Owners and Sponsors -- Multiple Roles of the Management Consultant (Consultant) -- Stakeholder Concerns and Mitigation Tools -- Corporate Responsibility Initiatives -- Stakeholder Participation -- Communicating with Stakeholders -- Communication Model -- Communication of Financial Information on the Big Dig -- Key Lessons Learned about Stakeholder Management on the Big Dig -- Summary -- Ethical Considerations -- Discussion Questions -- References -- Chapter 4 Governance -- Introduction -- What Is Governance? -- Project Governance -- Multiple Governance Structures as a Dynamic Regime -- Developing a Megaproject Governance Framework -- Projects as Temporary Institutional Structures -- Governance Framework Development: Five-Step Process -- Step 1: Defining the Project's Governance Structures -- Step 2: Planning and Defining Roles and Responsibilities -- Governance as Decision Making -- Governance Escalation at the Big Dig -- Governance Issues for Decision -- Step 3: Implementing the Governance Architecture -- Step 4: Measuring Performance of the Governance Framework -- Step 5: Optimizing the Governance Structure -- The Challenges of Implementing Project Governance Frameworks -- 1. Reconciling Project Authority with Corporate Power -- 2. Problems of Multiple Governance Regimes -- 3. Symptoms of Ineffective Project Governance: Root-Cause Analysis -- 4. Trust and Governance -- 5. Ethics and Governance -- 6. Whistle-blowers -- 7. Corporate Social Responsibility.

Lessons from Practice: The United Kingdom's T5 New Product Delivery Project -- Lessons Learned -- 1. Strategically Plan Governance -- 2. Appoint an Independent Advisory Board -- 3. Manage the Interfaces between Governance Structures -- 4. Measure Performance of the Governance Framework -- 5. Ensure a Mechanism to Maintain Institutional Memory -- Summary -- Ethical Considerations -- Discussion Questions -- References -- Chapter 5 Megaproject Scope Management -- Introduction -- 1. Scope and the ``Triple Constraint'' -- 2. Defining the Scope on a Megaproject -- Scope in Relation to the PMBOKR Guide -- Scope Elements -- 3. The Project Organization: Scope Controls Program -- Contract Procurement and Administration -- The Project Controls Programs -- 4. The Technical Scope Statement (TSS) -- 5. Project Work Breakdown Structure (WBS) -- The Work Breakdown Structure -- Hierarchical Levels of Control and Reporting -- 6. Scope Evolution and Scope Creep -- Design Development -- Scope Creep -- 7. The Specification Management Plan -- Specification Problems and Solutions -- 8. Scope Change and Verification -- 9. The Top Ten Scope Control Tools -- A. Controlling Requirements Errors -- B. Design to Budget -- C. Cost Recovery -- E. Early Identification and Project Trend Analysis -- F. Claims Avoidance Program -- G. Partnering and Alternative Disputes Resolution Program -- H. Value Engineering (VE) -- I. VE Program-Proposals from Design Consultants -- J. Value Engineering Change Proposal Program (VECP)-Proposals from Contractors -- Lessons Learned -- Summary -- Ethical Considerations -- Discussion Questions -- References -- Chapter 6 Schedule -- Introduction -- Schedule-Driven projects -- The Big Dig's Timeline: A Long and Winding Road -- Schedule Management Philosophy -- Major Phases of Project Delivery -- The Planning Stage.

Perceptions of Stakeholders on Approaches to Reduce Highway Project Completion Time -- Fast-Tracking -- Impact of Design Development on Schedule -- Schedule and Cost Integration -- Schedule Controls Plan -- Critical Path Method (CPM) -- Critical Risk Exposures (CREs) -- Time Control Processes -- Tracking Schedule Progress -- Time Control Programs and Reports -- Project Delays -- Schedule Recovery -- Extension of Schedule -- The Big Dig Lessons from Practice: Calculating Delay Costs-Bottom Up -- Comparison of Delay versus Recovery Costs -- Incentives as Tactics for Keeping on Schedule -- FHWA Policy on Incentives -- Incentive Models for Megaprojects -- Liquidated Damages -- Lessons Learned -- Summary -- Ethical Considerations -- Discussion Questions -- References -- Chapter 7 Cost History -- Introduction -- Megaproject Cost Estimation Research -- Cost Growth History on the Big Dig -- 1. Changes in Preliminary Concept and Design Development -- 2. Subsurface Conditions -- 3. Schedule Delays -- 4. Inflation -- 5. Potential Change Allowance (PCA) -- 6. Cost Accounting History and Political Realities -- The Big Dig Cost Construction Summary -- Lessons Learned -- Summary -- Ethical Considerations -- Discussion Questions -- References -- Chapter 8 Cost Management -- Introduction -- 1. The Project Budget Process and Cost History -- 2. Cost Centers -- 3. Cost Management Team -- 4. Data Resources -- 5. Cost Control Tools -- A. Design Evolution -- B. Finance Plan -- C. Project Management Monthly (PMM) -- D. Budget, Cost Commitment, and Forecast Report -- E. Earned Value Methodology -- F. Mitigation -- G. Variance Reports -- H. Bottom-up Assessment of To-Go Project Costs -- I. Contingency Funding as a Means of Control -- J. Potential Change Allowance (PCA) -- K. Management Reserves -- L. Independent Outside Audits -- M. Claims and Changes -- N. Cost Recovery.

O. Cost and Schedule Containment Initiatives.
Abstract:
VIRGINIA A. GREIMAN is Professor of Megaproject Management and Inter- national Development and Project Finance at Boston University. She is the former deputy counsel and risk manager for the Big Dig (from 1996 to 2005), and served as a core manager on the twelve-member project executive team responsible for the daily operations of the project. She had an opportunity to participate firsthand in addressing the project's challenges and fulfilling its goals during its peak years of construction.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
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