Summary of Industrial Megaprojects

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Rating

9 Overall

8 Importance

9 Innovation

8 Style


Recommendation

Few industrial corporations would consider a success rate of 25% to 35% acceptable, yet this is the average for megaprojects worth $1 billion or more. Edward W. Merrow, an expert on staggeringly big projects, details why many such endeavors fail and what owners can do to ensure that their megaprojects meet their business objectives. Merrow’s book could have been quite dry, considering the subject matter, but it proves to be engaging and revealing instead. getAbstract recommends this informative, interesting read to project directors, sponsors, investors, board members and senior executives at industrial corporations.

In this summary, you will learn

  • Why most industrial megaprojects fail and
  • What project owners can do to ensure business success for their megaprojects.
 

About the Author

Edward W. Merrow is the founder and CEO of Independent Project Analysis, a consultancy specializing in analyzing projects and project management systems.

 

Summary

When Shell Oil’s Sakhalin-2 Project came in $10 billion over budget, the company’s reputation suffered, and Russia nationalized a sizable part of the project. In 2005, BP’s Thunder Horse platform, located in the Gulf of Mexico, experienced structural failure. When BHP’s Hot Briquetted Iron Project failed...

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