Failure of Major Infrastructure Projects: An Operational Perspective

Abstract

Major projects, generally considered as having a value of greater than $500 million, are prevalent in today's developing society. However, due to their size and nature, many factors can contribute to their risk and potential failure. Apart from the size of major projects, the complex issues of managing such projects throughout the entire project's lifecycle, and the multifaceted impact on the public benefit, are frequently used to define major projects success (Altshuler and Luberoff 2003). Either arising from a specific need or as a stimulus during economic crisis, major projects have been playing a very important role in any economy. With the increase of investment complexity and the ..