, 2022-12-12 17:45:48,
Idea in Brief
A study of some 16,000 major projects—bridges, dams, power stations, rockets, railroads, information technology systems, and even the Olympic Games—reveals a massive project-management problem.
Only 8.5% of projects were delivered on time and on budget, while a mere 0.5% were completed on time and on budget and produced the expected benefits. In other words, 99.5% of large projects failed to deliver as promised.
Master architect Frank Gehry consistently defies those odds, producing projects of staggering beauty while meeting time and budget targets. Interviews with Gehry and his colleagues reveal four lessons, described here, for successfully managing big projects.
But what’s less well-known is that the Guggenheim Bilbao also set a management standard that very few large projects have attained: It was delivered on time, within just six years, and cost $3…
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