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Using principal–steward contracting and scenario planning to manage megaprojects
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Turner, J. Rodney (2022) Using principal–steward contracting and scenario planning to manage megaprojects. Project Management Journal, 53 (1). pp. 8-16. doi:10.1177/87569728211061836 ISSN 1938-9507.
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Official URL: https://doi.org/10.1177/87569728211061836
Abstract
Performance on megaprojects is dismal. Megaprojects are complex, but people use constructs inappropriate in complex situations for their management, particularly contractual arrangements based on principal–agent governance and conventional project management, which is good at solving puzzles, but not at enlightening mysteries. I review current thinking. Principal–steward contracting is a liberal governance structure required in complex situations. Conventional project management emphasizes control at the expense of innovation. In cases of high uncertainty, innovation is required as unexpected events occur. Scenario planning is offered as a way of approaching the management of complex megaprojects, to construct narratives, and to identify alternative outcomes.
Item Type: | Journal Article | ||||||
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Divisions: | Faculty of Science, Engineering and Medicine > Engineering > WMG (Formerly the Warwick Manufacturing Group) | ||||||
SWORD Depositor: | Library Publications Router | ||||||
Journal or Publication Title: | Project Management Journal | ||||||
Publisher: | SAGE Publications | ||||||
ISSN: | 1938-9507 | ||||||
Official Date: | February 2022 | ||||||
Dates: |
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Volume: | 53 | ||||||
Number: | 1 | ||||||
Page Range: | pp. 8-16 | ||||||
DOI: | 10.1177/87569728211061836 | ||||||
Status: | Peer Reviewed | ||||||
Publication Status: | Published | ||||||
Access rights to Published version: | Restricted or Subscription Access |
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