Risk Management for Megaprojects
Werner Rothengatter · Oxford University Press eBooks · 2017
Megaprojects are characterised by technological, economic, aesthetic, or political ‘sublimes’ such that they appear to be unique for a region or even for a country. High political and private ambition has encouraged decision-makers in the past to take decisions without considering risks carefully. Risk management is not an isolated activity performed once in the life of a megaproject but rather a continuous process in project management. This chapter addresses all phases of the life cycle of a megaproject to elaborate the lever points for effective risk management. From a scientific point of view, it is important not only to apply promising methods that have been developed in graph theory or statistics but also to focus on the optimisation of information processes by developing appropriate instruments. Critical tasks of risk or change management require reliable information inputs and fast simulations for estimating technical, economic, and financial impacts of risk mitigating actions.