Megaproject

Source: Wikipedia, the free encyclopedia.
For a list of megaprojects, see List of megaprojects.
For a list of megaprojects specifically related to transportation, see List of transport megaprojects.
Itaipu Dam in South America, an example of a 20th-century megaproject
The Trans-Siberian Railway and other railways in the Asiatic part of the Russian Empire were important 19th-century megaprojects.

A megaproject is an extremely large-scale construction and investment project.[1] A more general definition is "Megaprojects are temporary endeavours (i.e. projects) characterised by: large investment commitment, vast complexity (especially in organisational terms), and long-lasting impact on the economy, the environment, and society".[2]

Megaprojects refer not only to construction projects but also decommissioning projects, which are projects that can reach multi-billion budgets, and have a high level of innovation and complexity, and are affected by a number of techno-socio-economic and organizational challenges.[3][4]

The

OFCCP Mega Construction Project (Megaproject) Program involves projects valued at over $35 million.[5]

Downsides

Megaprojects are often affected by corruption, leading to higher cost and lower benefit.[6]

According to the

environment, and budgets, and the high costs involved.[7] Megaprojects can also be defined as "initiatives that are physical, very expensive, and public".[8]

Examples

Main articles: List of megaprojects and List of transport megaprojects

Megaprojects include

human genome, a significant global advance in genetics and biotechnology
.

Rationale

The logic [

highway revolts in some Western nations saw urban activists opposing government plans to demolish buildings for freeway route construction, on the basis that such demolitions would unfairly disadvantage the urban working class and benefit commuters.[13] Anti-nuclear protests against proposed nuclear power plants in the United States and Germany prevented developments due to environmental and social concerns.[citation needed
]

More recently,[when?] new types of megaprojects have been identified that no longer follow the old models of being singular and monolithic in their purposes, but have become quite flexible and diverse, such as waterfront redevelopment schemes that seem to offer something to everybody.[clarification needed][citation needed] However, just like the old megaprojects, the new ones also foreclose "upon a wide variety of social practices, reproducing rather than resolving urban inequality and disenfranchisement".[14] Because of their plethora of land uses "these mega-projects inhibit the growth of oppositional and contestational practices".[14] The collective benefits that are often the underlying logic of a mega-project, are here reduced to an individualized form of public benefit.

Economics

Proponents of infrastructure-based development advocate for funding large-scale projects to create long-term economic benefits. Investing in megaprojects in order to stimulate the general economy has been a popular policy measure since the economic crisis of the 1930s. Recent examples are the 2008–2009 Chinese economic stimulus program, the 2008 European Union stimulus plan, and the American Recovery and Reinvestment Act of 2009.

Megaprojects often raise capital based on expected returns—though projects often go overbudget and over time, and market conditions like commodity prices can change.[15] Concern at cost overruns is often expressed by critics of megaprojects during the planning phase. If the megaproject is delivered in a country with relevant corruption the likelihood and magnitude of having overbudgets increases.[16]

One of the most challenging aspects of megaprojects is obtaining sufficient funding. Alan Altshuler and David Luberoff have found that creative and politically adept political leadership is required to secure resources as well as generate public support, mollify critics, and manage conflict through many years of planning, authorization and implementation.[17] Other challenges faced by those planning megaprojects include laws and regulations that empower community groups, contested information and methodologies, high levels of uncertainty, avoiding impacts on neighborhoods and the environment, and attempting to solve a wicked problem.[18]

See also

References

  1. ^ a b "Megaproject: The Effective Design and Delivery of Megaprojects in the EU". European Cooperation in Science and Technology.
  2. S2CID 8165155
    .
  3. doi:10.1016/j.ijproman.2016.12.002
    .
  4. S2CID 115941020. Archived from the original on 1 Feb 2019. Alt URL
  5. ^ "Office of Federal Contractor Compliance Programs: Mega Construction Project Program".
  6. doi:10.1016/j.ijproman.2016.09.010
    .
  7. ^ "Project Delivery Defined". Federal Highway Administration. Prior to the enactment of SAFETEA-LU in August 2005, projects with over $1 billion in construction costs were designated as "Mega Projects". SAFETEA-LU has lowered the monetary threshold from an estimated total cost of $1 billion to $500 million or greater, and the term "Mega Project" has since been eliminated and replaced with the term "Major Project."
  8. ISBN 0-8157-0129-2
  9. ^ "The Political Economy of Very Large Space Projects". Journal of Evolution and Technology. November 1999. Retrieved 16 November 2015.
  10. ^ "Three Gorges breaks world record for hydropower generation". Xinhua. 1 January 2014. Archived from the original on January 2, 2015. Retrieved 2 January 2015.
  11. ^ "Millions forced out by China dam". BBC News. 2007-10-12. Retrieved 2008-01-20.
  12. ^ Julie Chao (2001-05-15). "Relocation for Giant Dam Inflames Chinese Peasants". National Geographic. Retrieved 2008-01-20.
  13. ISBN 978-1-55963-833-3
  14. ^
    doi:10.1111/j.1468-2427.2008.00830.x
    .
  15. ^ "Crude Oil's Fall Pressures Energy Megaprojects". Wall Street Journal. 8 Dec 2014.
  16. doi:10.1016/j.ijproman.2016.09.010
    .
  17. ^ Altshuler, Alan and David Luberoff. Mega-Projects: The Changing Politics of Urban Public Investment. Washington, D.C.: Brookings Institution, 2003.
  18. ^ Plotch, Philip Mark. What's Taking So Long? Identifying the Underlying Causes of Delays in Planning Transportation Megaprojects in the United States. Journal of Planning Literature. Available online January 8, 2015.
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