In an interview with Project Magazine, Bent Flyvbjerg describes the challenges, causes, and cures of risk in major project management. Main challenges identified are benefit shortfalls, cost overruns, and schedule overruns. Root causes of risk are argued to be optimism bias and strategic...

Recently, as I was concluding a study on megaprojects, I was made to think of Nobel Price winner F.A. Hayek's controversial article "Why the Worst Get on Top," about the selection of political leaders. Like Hayek's political leaders, we found it is not necessarily the best megaprojects that...

It is useful to distinguish between “causes” and “root causes” in explaining cost overruns, benefit shortfalls, and delays in major projects. Conventionally, the following are listed as causes of project underperformance in the literature: project complexity, scope changes, technological...

Execution of construction projects in an efficient and effective way is a core competency of project-based organizations. Evaluation of project success plays a key role in improving project management competency. Project success is an elusive topic and goes beyond project management success and...

This paper fills a very important gap in the literature with a straightforward methodology that generalizes the classic Modigliani and Miller results and provides correct values for the expected return on equity and for the weighted average cost of capital (WACC). After some confusing debate in...

Literature reveals importance of leadership competencies for project managers who are responsible for successful implementation of projects. Project managers possess knowledge and skills of project management but still the rate of project success has not significantly been improved. This study...

Objective – The Research and Development (R&D) projects of medical devices are unique, partly due to the lengthy regulatory process to obtain new product approval depending on the device's risk category and clinical trials required. Despite the establishment of multiple control mechanisms in...

In the realization of infrastructure projects, the interest shown in the Build-Operate-Transfer (BOT) model is on the increase. Through the BOT projects, the risks and awards of the public in the realization of infrastructure projects are transferred to the private sector. Implementing the BOT...

This article deals with the various factors which influence project success or failure. According the analysis of the situation in chosen Slovak companies there were identified the most frequent causes of project success and failure