Megaproject


Megaproject

A megaproject (sometimes also called "major program") is an extremely large-scale investment project. Megaprojects are typically defined as costing more than US$1 billion and attracting a lot of public attention because of substantial impacts on communities, environment, and budgets.[1] Megaprojects can also be defined as "initiatives that are physical, very expensive, and public".[2] Care in the project development process may be needed to reduce any possible optimism bias and strategic misrepresentation.[1]

Megaprojects include bridges, tunnels, highways, railways, airports, seaports, power plants, dams, wastewater projects, Special Economic Zones, oil and natural gas extraction projects, public buildings, information technology systems, aerospace projects, and weapons systems; however, the most common megaprojects are in the categories of hydroelectric facilities, nuclear power plants and large public transportation projects.[3]

Contents

Examples

See also

References

  1. ^ a b Bent Flyvbjerg, Nils Bruzelius, and Werner Rothengatter, 2003. Megaprojects and Risk: An Anatomy of Ambition ISBN 0521009464 (Cambridge: Cambridge University Press).
  2. ^ Alan Altshuler and David Luberoff, Mega-Projects: The Changing Politics of Urban Public Investment (Washington, DC: Brookings Institution, 2003). ISBN 0815701292
  3. ^ Hugo Priemus and Bent Flyvbjerg. 2007. Decision-making on mega-projects: cost-benefit analysis, planning and innovation. Edward Elgar Publishing. 342 pages

External links


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Look at other dictionaries:

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