project management evolution to improve success in infrastructure projects

Abstract

This document provides an overview of the infrastructure megaproject industry (IMPI), the financial implications of cost and schedule overruns, and the trend towards the future impacts these may have on the global infrastructure sphere. Definitions of project management and procurement delivery models provide a framework for understanding the relevance of the subject matter. A sample of methodologies and best practices for project management indicate the breadth of diverse approaches available in the industries. A cause analysis of megaproject overruns with accompanying solutions suggests areas of industry improvement, supported by the first-hand experience by the author. The paper concludes that the IMPI and the associate methodologies must evolve to meet the demands of future infrastructure to be able to deliver the projects successfully and with the positive impact on the outcome. This evolution will be through improving and expanding knowledge, experience and intellectual capital of public and private industry Project Managers while determining some next steps to progress the industry.