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Social constructs and two factor successes: the Sydney opera house
Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Business Administration.
Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Business Administration.ORCID iD: 0000-0002-2495-9676
2022 (English)Conference paper, Oral presentation only (Other academic)
Abstract [en]

Megaprojects are big and bold, but they almost always overshoot in costs and time. Their patterns tend to follow the ‘iron law’ of megaprojects, “over budget, over time, over and over again”. In this regard, the poster child of megaproject failures is the Sydney Opera House. That is, among alleged failures, it is one of the worst. Built in 1959-1973, it had a 1,400 % overrun in cost and ran six years behind schedule. That approach to evaluation is harsh.  Both of us has been to Sydney and have visited the Opera House. Since it opened in 1973 the Opera House has repaid its A$100 million many times over as a tourist attraction and as a cultural center, the expert evaluation report to the UNESCO World Heritage Committee, 2007 asserted, “It stands by itself as one of the indisputable masterpieces of human creativity, not only in the 20th century but in the history of humankind”. Consequently, we are motivated to look at success in megaprojects. In that regard, the purpose of this paper is to continue the extended processes used for megaproject evaluations. In particular, it introduces the concepts of social construct reality and a two-factor approach to assessing success. The paper should be of interest to economists because it relates to commissioning of ultra-large projects and their eventual paybacks. 

Place, publisher, year, edition, pages
2022.
National Category
Business Administration
Identifiers
URN: urn:nbn:se:umu:diva-197488OAI: oai:DiVA.org:umu-197488DiVA, id: diva2:1678249
Conference
Pennsylvania Economic Association (PEA) Conference, Gannon University, Pennsylvania, USA, June 2-4, 2022
Available from: 2022-06-29 Created: 2022-06-29 Last updated: 2023-06-01Bibliographically approved

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Wilson, TimothyJacobsson, Mattias

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CiteExportLink to record
Permanent link

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Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf