In the “Industrial Megaprojects” book, Edward Merrow, a long time researcher of large, complex projects and founder of the consultancy Independent Project Analysis Inc., provides key statistical data and insights about the failure rates of large infrastructure projects and what are the factors that would make them more successful.

What can we learn from this data when it comes to the execution of these projects? That’s what we cover in our new White Paper 2012-15 “What can make execution of large, complex projects more reliably successful?“

Yes, two-third of these projects fail one way or the other. Merrow insists a lot on the quality of their preparation. Still, there are some useful insights when it comes to their execution:

• Speed kills – start with realistic expectations and review your schedule accordingly!
• Clear Project Objectives are primordial (re-read Define Clearly your Project Objectives! and the associated white paper White Paper 2012-13 “Define Clearly your Project Objectives! Why is this Key Project Step so Often Skipped?“),
• Strong, integrated owner teams are key,
• The contracting strategy does not really influence the outcome; the strength of the owner team does,
• Remoteness and new technology make it more difficult,
• Early permitting is critical.

Read NOW our new White Paper 2012-15 “What can make execution of large, complex projects more reliably successful? – reading notes from “Industrial Megaprojects” by Edward Merrow“

Read – and don’t forget to put these ideas in practice, they might save you millions!