Megaprojects, also referred to in the literature as Large Engineering Projects or Major Projects, are generally defined as large-scale investment initiatives worth 1b€/$ or more and, facing similar problems independent of the country where they are implemented and the industry they belong to. The common feature of most megaprojects is that they are difficult to design and manage so that their realization and completion is always extremely expensive, often over budget and delivery deadlines also are not met. In the worst-case scenario, they remain unfinished. This book, through its multidisciplinary approach, offers food for thought and alternative interpretations for the complex world of megaprojects. While much research has been conducted and differing approaches have been developed over the last 20 years, there is still a lot of debate surrounding the topic, and a holistic approach for effectively managing these initiatives is still missing. What is clear to all researchers and experts in the field is that a traditional-linear management approach is simply not sufficient, as at many stages of a megaproject, iterative and feedback effect occurs due to stakeholder involvement and increasing and continuous interaction between them. The book promotes the debate among all categories of stakeholders involved in the megaproject’s supply chain, in order to increase the awareness of complex phenomena relating to the critical issues and common problems they face, all over the world, and to seek performance improvement across the whole life cycle of a megaproject, including the selection, design, construction, operation and de- commissioning. The multidisciplinary approach cultivated in the book conveys an innovative way to study megaprojects and their inherent complexities.
Author(s): Franca Cantoni, Edoardo Favari
Series: Routledge-Giappichelli Studies in Business and Management
Publisher: Routledge/Giappichelli
Year: 2022
Language: English
Pages: 242
City: Torino
Cover
Half Title
Title
Copyright
Contents
List of Figures and Tables
Dedication
Introduction
Part I: Main Challenges
1. The Human Side of Megaprojects: Leadership Style and Traits to Face Growing Levels of Complexity and Uncertainty
1.1. Introduction
1.2. Organization and HR in megaprojects: the Human Side of Megaprojects
1.3. The Six Paradoxes of Leadership Traits
1.4. Methodology: Applying storytelling and the narrative approach to project management research and practice
1.5. Stories and narratives
1.5.1. The Managing Director of the Mediterranean Rail Freight Corridor (Med-RFC)
1.5.2. The Project Manager of a High-Speed Trains and Locomotives Company
1.6. Findings
1.7. Conclusions
2. Proposing a Sustainability-Centered Approach to Overcome Critical Issues in Megaprojects
2.1. Introduction
2.2. Scenario
2.3. Project management and sustainability: the key connection
2.4. Methodology
2.5. Triple bottom line sustainability in megaproject management
2.6. Strategic approach introduction of sustainability principles
2.7. Outputs and Results expected from the application of 3P Principles
2.8. The project manager’s responsibilities and the decisionmaking process
2.9. Findings and further steps
3. Use and Misuse of Input-Output and SAM Multipliers: Where are we Standing?
3.1. Introduction
3.2. Multipliers are a key argument in public discussion on economic policies
3.2.1. Playing with numerators and denominators
3.2.2. Neglecting Substitution effects: Alien money
3.2.3. The blind spot of IO: capital accumulation and the future
3.2.4. The indirect (and induced) effect fallacy
3.2.5. The indeterminacy of results, when only arbitrariness tells which accounts are endogenous or exogenous
3.2.5.1. Adapting the multiplier to the nature of the shock
3.2.5.2. Decomposing single accounts into endogenous and exogenous components
3.2.5.3. More attention is needed on the choice of endogenous accounts and on the balance of the simulated SAM
3.3. A realistic application of IO multipliers in the context of the Recovery Plan in Italy
3.3.1. Naïve sales multiplier
3.3.2. Naïve added value multiplier
3.3.3. Residual debt and taxation
3.3.4. A complex situation: EU recovery funding multipliers
3.4. Conclusions
Appendix. A Social Accounting Matrix (SAM) standard structure
4. Infrastructural Investments and Their Impact on SDGS
4.1. Brief survey on the relationship between investment in infrastructure and development/GDP growth
4.2. The issue of the compatibility of infrastructure and sustainability
4.3. Preliminary quantitative remarks
4.4. Lesson drawn from the study of the relationship between infrastructure and sustainability
5. Post Pandemic Green Tax Policies: How to Make Megaprojects Sustainable
5.1. Introduction: purpose of this work
5.2. Methodology and approach
5.3. Findings and research results
5.4. Originality: megaprojects and sustainability-oriented taxation
5.5. Research implications and limitations
6. The Relevance and Limits of Taxation as an Aid to Foster Megaprojects
6.1. Introduction
6.2. The classical division of government budget functions and the role of taxation
6.3. The foundational principles of modern national tax systems
6.3.1. The appropriate design of a tax system
6.3.2. Equity and distributive justice
6.3.3. Simplicity
6.3.4. Efficiency
6.3.5. Neutrality
6.4. Devising an optimal tax system: trading off its foundational principles
6.5. Government incentives: direct spending or tax expenditures?
6.6. Legal constraints and conclusions
7. Megaprojects Contracts and Pandemics: from Law to Private Autonomy
7.1. Pandemic, government restrictions and contracts
7.2. Before Covid-19: international models (Fidic or NEC) and contract law
7.3. After Covid-19: international model (Fidic or NEC) and contract law
7.4. The private autonomy’s chance
Part 2: Cases
8. Insights into the Cost-Benefit Analysis of an Intermodal Logistic Terminal
8.1. Introduction
8.2. Project description
8.3. Scenarios analysis
8.3.1. The all-road scenario
8.3.2. The rail scenario
8.4. Demand analysis
8.4.1. Current freight flows
8.4.2. Potential demand
8.5. Financial analysis
8.5.1. Investment costs
8.5.2. Incremental operating costs and revenues of the new cargo rail mission
8.5.3. Results of the financial analysis
8.5.4. Sources of finance
8.6. Economic analysis
8.6.1. Direct impacts
8.6.2. Externalities
8.6.3. Results of the economic analysis
8.7. Risk analysis
8.8. Conclusions
9. Forecasting the Success of Hyperloop Technology on Italian Routes: a Broad Feasibility Study
9.1. Introduction to Hyperloop
9.2. What is Hyperloop?
9.2.1. Hyperloop history
9.2.2. The infrastructure
9.2.3. The vehicle (capsule)
9.2.4. Regulation
9.3. Methodology
9.3.1. Transportation Demand analysis
9.3.2. Analysis
9.3.3. Questionnaire
9.3.4. Sensitivity Analysis
9.4. Financial Analysis
9.4.1. Construction cost
9.4.2. Operating cost
9.4.3. Financial main results
9.5. Economic Parameters
9.6. Stakeholders Analysis
9.6.1. Five Interviews to selected stakeholders
9.7. Preliminary considerations
9.8. Conclusions and further development
10. Bridge or Tunnel? A Study of the Spillover Effects on Strait of Messina Metropolitan Area
10.1. Relationship between investment in transport infrastructure and regional growth
10.2. The debate around a stable linkage between Sicilia and Calabria
10.3. Conceptual diversity between the bridge and the tunnel: two alteranatives for the integration of the two territories
10.4. The maritime connections for crossing the Strait of Messina: data about the current situation of the traffic
10.5. A broad evaluation of the economic impact of the infrastructure
10.6. Final considerations about the alternatives
11. Project Management and Building Information Modelling Interactions in Large Building Projects. The Galliera Hospital Case Study
11.1. The Hospital Project
11.2. Design Deliverables
11.3. The Design Lifecycle
11.4. Complexity of Stakeholders
11.5. Design Organisation
11.6. Project Management Methods & BIM tools
11.7. BIM dimensions and Project Management
11.8. Issues on the Critical Path
11.9. Project Management specific for Hospital Projects
11.10. Lessons Learnt on Project Management and BIM tools
11.11. Conclusions
Index
