Risk management in megaprojects: So far the majority of studies have focused on
construction risks and financial/economic risks whereby the most common risks mentioned in
(mega)project management are cost overruns and delays. Knowledge on other risks including
operations and maintenance risks, and society risks is increasingly becoming more important
as the success of megaprojects is recognised to be part of the whole life cycle of projects and
the impact on their environment. Research into the identification, qualification/quantification,
and mitigation of these operations and maintenance risks and/or society risks can improve
risk management of megaprojects. Furthermore, megaprojects have started to become more
popular in the developing world. A comparison of megaproject risk and management
challenges in developing and developed countries can contribute to improved implementation
of these projects.
Effectiveness and efficiency of public sector procurement: Over the last years there has
been increased focus on improving public sector effectiveness for example by using private
finance to fund public projects or by improving performance of projects to reduce waste of
public resources. A particular focus is on public-private partnerships as a delivery model for
megaprojects. The performance of PPP’s is often studied in a financial context, while nonfinancial determinants can also have a considerable impact. For example, relational
approaches and trust have been promoted in a theoretical context but actual evidence of their
impact is desired. Furthermore, the level of organisational complexity and controversy of the
project may be determinants in the success of private party involvement and PPPs.
Escalation of commitment: A problem pertaining to many organisations is escalation of
commitment, the tendency of decision-makers to persist with a failing course of action. When
faced with negative consequences, rather than abandoning the project, managers often
increase commitment to resources and consequently face the risk of large losses. Despite
knowledge of escalation and de-escalation factors we are still regularly confronted with failed
decisions resulting in financially mismanaged projects. A better understanding of the social
determinants, including the role of social and institutional pressures is sought.
Realizing sustainable development by megaprojects: It is well known that megaprojects
have a more significant impact on the development of society and realization of public
interest then general construction projects. As such an interesting topic to investigate is the
role of megaprojects in realizing sustainable development, either introducing programs to
bring sustainability into an organisation or managing them towards more sustainable
outcomes. Incorporating sustainability requires a shift in focus from managing cost, time, and
scope, to managing environmental, societal and economic impact. How this sustainability can
be integrated in projects and how it affects project management theories and methods are
areas of interest.
Performance management and measurement: Projects are often evaluated in terms of cost,
time, and scope measured at the time of delivery. With scope a particular challenge lies in
measuring the benefits of megaprojects as they often come in years after the project has been
implemented. Moreover, megaprojects often have an impact on the wider community and
environment and a particular challenge is how to measure and include these organizational
and societal outcomes in the evaluation. Furthermore, besides the efficient delivery of project
outputs, projects contribute to the delivery of strategic goals and as a consequence of this shift
in perspective in the role of projects, the realisation of project benefits is becoming more and
more important. The extent to which projects actually achieve these strategic objectives is
unknown and there is little evidence to the often-used argument that benefits management
improves project performance.