Article initially published at Velocity Quarterly
Why your first hires and earliest investment should be laser focused on identifying and mitigating critical risk
Megaprojects are staggeringly complex and at least $1 Billion to build, involving multiple stakeholders across both the public and private sectors. What’s more is design and construction can span decades, with hundreds or thousands of contractors and subcontractors -- a tremendous feat of organizational logistics and communications.
Unfortunately the “iron law of megaprojects” is still very much in effect today -- over budget, over time, over and over again. And though there are many reasons for megaprojects' failure, the linked article focuses on one: people. We will make the case for the following statement:
The people you hire first are one of most powerful bulwarks against failure.
Click on this link here to read the whole article.