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Risk management in Megaproject: a lesson from scottish parliamnet building project
Umeå University, Faculty of Social Sciences, Umeå School of Business.
Umeå University, Faculty of Social Sciences, Umeå School of Business.
2008 (English)Independent thesis Advanced level (degree of Master (Two Years)), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

There are quite a number of researches on the risk management review in

public projects especially so called megaprojects, public project with high

investment. Such effort, however, usually tends to offer the lessons in certain

condition rather than generalize to others. Our research aims to bridge the

gap by exploring the relation between the public feature of Megaproject and

its risk management policy option. Under the project risk management

framework, the case study of Scottish Parliament Building project focuses

on the stakeholder intervenes during the whole process.

In the analysis, the risks are first outlined according to the report ex post,

then we go back to examine the risk assessment and risk control policy

during the project to identify the reasons leading to the deviation. The

finding demonstrates the politics intervene has generated high transaction

cost for project manager to implement risk reduction and mitigation policy,

and the optimum way under such condition to accept or avoid the risks at all,

but not handle them. Accordingly, the thesis suggests that the appropriate

risk transfer and contingency allowance will be the key success factors in the


Place, publisher, year, edition, pages
Umeå: Handelshögskolan vid Umeå universitet , 2008. , 74 p.
Keyword [en]
Megaproject; Risk Management; Case Study; Scottish Parliament BuildingProject
National Category
Business Administration
URN: urn:nbn:se:umu:diva-1510OAI: diva2:141274
Social and Behavioural Science, Law
Available from: 2008-01-25 Created: 2008-01-25 Last updated: 2010-03-16Bibliographically approved

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