Preface ix Acknowledgments xi Why Megaprojects Fail So Often— Seven Key Mistakes 1 Part 1 Success Is Elusive 9 1 Megaprojects— Creators and Destroyers of Capital 11 2 Data and Methods 25 3 Project Outcomes and Trends 45 4 The Roads to Ruin— The Mechanics of Failure (and Success) 71 Part 2 The Three Work Streams 95 5 An Introduction to the Shaping Stream 101 6 Shaping Step 1— Understand the Context 109 7 The Next Steps— From Context Knowledge to Project Shape 135 8 Devising the Shaping Strategy 169 9 Basic Data Are Basic 207 10 Project Definition— Getting the Front- End Right 235 Part 3 People Do Projects 297 11 Megaprojects Teams 299 12 Organizing Megaproject Teams 339 Part 4 Getting It Done 353 13 Contracting 355 14 The Control of Execution Risk 407 Part 5 Finishing Up 435 15 Project Governance 437 16 Focus on Success 449 Glossary and Acronyms 459 Index 463

AN UPDATED EDITION OF THE BESTSELLING BOOK ON MEGAPROJECTS In Industrial Megaprojects, author, founder, and CEO of the world’s leading evaluator of billion-dollar “megaprojects” Edward Merrow provides expert insight on how project management practices lead to success in megaproject development and help prevent all-too-common overruns and delays. This book offers clear, nontechnical explanations of why major projects tend to get into trouble, with a comprehensive collection of tools, tips, principles, and frameworks to take a megaproject from start to finish. New material in this Second Edition helps readers navigate the modern megaproject landscape, discussing sustainability in the forms of renewable energy and decarbonization, along with desirable attributes of modern project organization techniques to support megaprojects. This book also delves into the critical role of governance in making successful projects, commonly seen hazardous and costly errors in recent megaprojects, technical expertise requirements to ensure efficient function of plants once work is completed, and more, with case studies showcasing how megaprojects can fail and succeed included throughout the text. Written by world-renowned megaproject consultant and evaluator Edward Merrow, Industrial Megaprojects is an essential resource for engineers, industry professionals, and executives seeking to produce safe, cost-effective, on-time, and successful megaprojects.