Megaprojects seldomly meet their key delivery objectives in terms of time, cost and quality. In fact, many do not fully achieve their promised benefits. The causes of this poor track record are often multifaceted and interdependent due to the sheer scale, institutional structures and complexity associated with procuring and managing megaprojects. This theme examines the causes of the inefficiencies in megaproject procurement and the possible innovations for improving their performance and delivery.

The scale, complexity, timescale, uncertainties and the costs associated with megaprojects create a web of highly amplified and interrelated risks that require balanced, fair, realistic and practical risk management strategies – this can be incredibly challenging to achieve in practice. This theme focuses on getting projects and programs right from the start in terms of effective risk allocation to support high-performing project teams. This theme also critically examines why the current approaches are broken and the new approaches needed to support a paradigm shift from the status quo.

Most megaprojects are delivered late and over budget. There are questions about whether these projects provide the long-term benefits that are promised. Measuring the real costs and benefits of megaprojects has remained challenging, and often, the value that is expected or delivered is even more difficult to define objectively. This theme examines empirically-supported and realistic cost and benefits assessment approaches. We also examine value-related issues like value management, value capture of infrastructure and benefits management.

The impact megaprojects have on the economy and society is significant, even across many decades. Thus, sound and well-informed decisions must be made for these projects. Important decision at various stages of megaproject delivery – from initiation to operation, warrants rigorous assessments that evaluate many key criteria. This theme focuses on identifying best practices for front-end decision-making and project appraisal to develop new and improved frameworks that support decision-making by taking into consideration the future costs and benefits of the project.

Developing and sustaining an effective, resilient, integrated and collaborative project team is an essential part of megaprojects. With complicated supply chain structures that include a network of organizations, both local and international, and partnerships that involve private and public investors, with numerous service providers, the challenges are substantial. In fact, the lack of proper alignment of the drivers and interests of this complex supply chain has been frequently identified as one of the common causes of megaproject failures. This theme examines the core problems related to collaboration issues and proposes new approaches to improve the collaborative structures and supply chain management in megaprojects.

Megaprojects have significant social, environmental and ecological impacts. For example, while hydro dams are one of the world’s largest sources of renewable energy, they can have a significant impact on water quality, aquatic life and river systems far downstream. There are also significant equity, legacy and social aspects of megaproject delivery that have to be considered. This theme explores sustainability issues in megaproject delivery.