National Conference 2018

“Megaprojects - Managing Risk and Uncertainty” 

IIT Madras and AACE South India Section is jointly hosting a National Level Conference at IIT Madras Campus
on 04th August 2018 with a focus on “Megaprojects - Managing Risk and Uncertainty”

Mega projects are large-scale, complex ventures that typically cost US$1 billion or more, take many years to
develop and build, involve multiple public and private stakeholders. They are transformational and impact
millions of people.

Megaproject management is an emerging and hugely costly field of study. Megaprojects are measured in the
units of mega, giga and tera, and concluding with how we are presently entering a new “tera era” of
trillion-dollar projects. Second, total global megaproject spending is assessed, at US$6 to US$9 trillion annually,
or 8% of the total global gross domestic product (GDP), which denotes the biggest investment
boom in human history.

They are designed to ambitiously change the structure of society, as opposed to smaller and more conventional
projects. Megaprojects are a completely different breed of projects in terms of their level of aspiration,
lead times, complexity, and stakeholder involvement. Consequently require to be managed very differently
to the conventional type of projects.

Examples of megaprojects are high-speed rail lines, airports, seaports, motorways, national health or pension,
information and communication technology (ICT) systems, national broadband, the Olympics,
large-scale signature architecture, dams, wind farms, offshore oil and gas extraction, aluminum smelters,
the development of new aircraft, the largest container and cruise ships, highenergy particle accelerators,
the logistics systems used to run large supply chain–based companies like Amazon and Maersk etc.,
For policymakers, investing in infrastructure megaprojects seems particularly coveted because, if done right,
such investing creates and sustains employment, promotes improved productivity and competitiveness by
lowering production costs; benefits local consumption through better quality services; and improving the
environment with more environmentally sound infrastructure.


Performance data of megaprojects around the world have indicated that 9 out of 10 such projects have had
cost overruns in the range of 50% to 1900% of their originally estimated costs. Some examples are Channel-
Tunnel rail link between UK & France (80%) and Sydney Opera house (1400%).


Due to their complex nature, megaprojects are inherently risky due to long planning horizons and complex
interfaces. The decision making, planning and management typically involve multiple stakeholders both public
and private with conflicting interests. Additionally, with non-standard technology and designs, the planners &
managers may develop a false sense of “uniqueness bias” which impedes learning from other projects for
implementing solutions with speed and agility to continuous challenges.

The expected outcome of the conference is to explore the strategies that can be put in place to better manage
risk and overruns to avoid the pitfalls of ‘break-fix’ method of project management by means of proactive and
proper front-end management.

WHEN:

04th August 2018
Starts at : 9:00 am - 5:30 pm

WHERE: IC&SR Auditorium | Indian Institute of Technology Madras
Sardar Patel Road, Adayar | Chennai - 600036


Conference Committee
S. Sankar | V. Sivakumar | Parthasarathy Sura |
 Laurie Bowman | Mohammed Rafiuddin

For any queries contact : S. Sankar, Chair-India Task Force | Email : sankar@aaceindia.org | call: +91-9741596853, 9900060178

Subpages (2): Agenda Speakers
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