Journal of Mega Infrastructure & Sustainable Development最新文献

{"title":"2015–2019 International Project Management Association Bi-Annual Conferences in Croatia: Report on megaproject special interest group sessions","authors":"Mladen Radujkovica, Sandra Mišić","doi":"10.1080/24724718.2019.1607469","DOIUrl":"https://doi.org/10.1080/24724718.2019.1607469","url":null,"abstract":"This note reports on the proceedings of two Megaproject Special Interest Group (SIG) Workshops held in parallel with the Construction Organization, Technology and Management Conferences (OTMC) sponsored by the International Project Management Association (IPMA) in 2015 and 2017. As in the case of the 2015 SIG workshop, the 2017 equivalent event brought together interested parties working with megaprojects on an international level (mainly from Europe) with a view to examining megaproject needs of society and the complex challenges such projects typically present, particularly in delivery. In line with IPMA’s overall mission, these SIG workshops were conducted to bring together academics and professionals, plus individuals from industry, commerce and research and development organizations, that have an interest in the advancement of megaproject investment and delivery. The aims of both workshops (plus that planned for September 2019) were to provide a platform for the exchange of experiences and ‘knowhow’ regarding megaproject developments world-wide (especially in Europe). This was done with a view to enhancing the networking and communication of interested parties to promote the advancement of what may be considered ‘successful’ 21st century megaproject management. In addition to the commercial and economic contributions such megaprojects may contribute, the workshops were dedicated to also investigate how such projects can/should contribute positively to community development and what role the management of the delivery of such projects plays in addressing these challenges.","PeriodicalId":143411,"journal":{"name":"Journal of Mega Infrastructure & Sustainable Development","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117117213","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Infrastructure investment and economic performance","authors":"B. Field","doi":"10.1080/24724718.2019.1603786","DOIUrl":"https://doi.org/10.1080/24724718.2019.1603786","url":null,"abstract":"and ubiquity of persistently modest rates of economic growth, infrastructure investment has once again found itself at the forefront of the public policy agenda. In an effort to boost global growth: Christine Lagarde, head of the International Monetary Fund, suggested that “investing in badly-needed, but well-designed, infrastructure is an obvious area of great potential”; fixing America’s infrastructure is a key element in US President Donald Trump’s plan to “make America great again”; China’s ambition to extend its global footprint is looking to use its infrastructure-led ‘Belt and Road’ initiative to do so; infrastructure is at the heart of EU Commission President JeanClaude Juncker’s Investment Plan for Europe; and the UK government is being urged to increase infrastructure spending to counteract any economic slowdown that might be occasioned by the country’s withdrawal from the European Union (Brexit in more popular parlance). These are just a handful of examples, but whilst few would disagree that infrastructure investment has a potentially positive impact on economic performance, it is the nature and magnitude of such impact that needs to be considered in informing economic policy and its implications for sustainability and other global challenges such as climate change. The positive benefits of infrastructure investment were for many years simply taken for granted by public policy analysts, until the work of Aschauer (1989), Munnell (1992), and others, elevated it to the economic mainstream. Whilst Aschauer’s work established what was perceived to be a statistically significant relationship between investment in infrastructure capital and economic growth, and suggested very high rates of return to such investment, Munnell supported and reinforced the idea that by greasing the wheels of future economic activity, the main beneficial impact of infrastructure investment was improved productivity. In any event, the relationship between infrastructure and economic growth has since been well established, with numerous empirical studies showcasing the positive attributes of investment in public capital. But while infrastructure may lead to higher productivity and output, past and current economic growth also increases the demand for infrastructure services and thereby induces increased supply. In short, it might well be that high GDP and high rates of infrastructure investment are correlated, but the direction of causality is not so clear, which has important implications for policy makers. Although rates of return from infrastructure projects may be significant, they were inevitably exaggerated by early studies because of the high positive correlation with overall economic activity per se. Analysts must control for what econometricians call ‘severe simultaneity bias’ and ‘spurious correlation’. Once this has been done returns are considerably reduced, and this is even before environmental impacts and broader sustainability","PeriodicalId":143411,"journal":{"name":"Journal of Mega Infrastructure & Sustainable Development","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116759351","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Digging beneath the iron triangle: the Chunnel with 2020 hindsight","authors":"Hugh Goldsmith, P. Boeuf","doi":"10.1080/24724718.2019.1597407","DOIUrl":"https://doi.org/10.1080/24724718.2019.1597407","url":null,"abstract":"Abstract The Channel Tunnel project (the Chunnel) to connect the UK and France was the largest privately financed transport megaproject of the 20th century. Despite nearly 25 years of successful operation and growing profitability, the Chunnel is frequently portrayed as a failure. Some authors even suggest that it should never have been built. If one looks beyond the so-called ‘iron triangle’ criteria of keeping to time, cost and scope, and the project’s early financial troubles, reality looks rather different. This paper takes a holistic, multi-disciplinary, multi-stakeholder long run perspective to dig beneath the iron triangle to argue that the Chunnel was not just an extremely successful megaproject that has delivered real economic benefits, but also an important agent of change. The Chunnel made a significant contribution to modernising Europe’s transport infrastructure on its journey towards sustainability and in improving knowledge about how to deliver privately financed megaprojects through public-private partnerships. With perfect 2020 hindsight on demand risks and cost overruns, a public sector investment subsidy of around 50% of the capital costs would have been required to make the project financially attractive to private investors, whilst generating an economic rate of return over the life of the concession estimated between 3 and 6%.","PeriodicalId":143411,"journal":{"name":"Journal of Mega Infrastructure & Sustainable Development","volume":"62 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127886540","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"2019 World Economic Forum Annual Meeting, Davos, Switzerland: Report on infrastructure sessions","authors":"V. Papakonstantinou","doi":"10.1080/24724718.2019.1603787","DOIUrl":"https://doi.org/10.1080/24724718.2019.1603787","url":null,"abstract":"The infrastructure related sessions in the 2019 World Economic Forum (WEF) Annual Meeting in Davos had as their main objective to discuss and review major global challenges and opportunities for the infrastructure industry across all sectors. The participants discussed ways in which governments, regulators and other infrastructure stakeholders can enhance working relationships between the public and private sectors to bring about positive strategic systemic change. Focused discussions were organised around key areas, including the impact and role of: geopolitics, global and national economics, technology and technological innovation, capacity and institution-building plus governance in support of infrastructure development. Conversations focused on how current geopolitical dynamics are affecting infrastructure development globally – both positively and negatively. The prevailing global and regional geopolitical risk landscapes received particular attention, highlighting the increasingly difficult challenges for key stakeholders to more effectively and efficiently navigate their involvement in infrastructure development across different sectors and at different levels and scales of activity. Participants at these sessions highlighted the increasing incidence of private sector companies (both national and global) incorporating foreign policy considerations into their business strategies. As a pronounced illustration of this, participants discussed at some length the Chinese Government sponsored Belt & Road Initiative (BRI) – sometimes referred to as The Silk Road Project. The evolution of the BRI was presented in three phases: in its earliest phase – conceived originally as a multi-lateral infrastructure programme; in its subsequent phase when dominated by state-owned enterprises (SOEs); and in its current phase, which looks to focus on governance and bilateral government partnerships. Much discussion took place on the question of how compliance with international quality and sustainability targets/standards could be assured, and what strategic alliances are necessary to ensure deliverability with other countries in Asia (particularly Japan) and further afield. Looking ahead, discussants expanded their focus to include the Digital Silk Road. This was presented and discussed as an especially fast evolving and growing sector of mega infrastructure development interest that could potentially be transformative and set new digital standards world-wide. Looking at infrastructure development more globally, participants addressed the rising uncertainties of the global economic outlook and their impact(s) on major national and trans-national infrastructure investment. Citing the fact that such","PeriodicalId":143411,"journal":{"name":"Journal of Mega Infrastructure & Sustainable Development","volume":"66 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128749967","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Mega transport projects and sustainable development: lessons from a multi case study evaluation of international practice","authors":"E. Ward, P. Skayannis","doi":"10.1080/24724718.2019.1623646","DOIUrl":"https://doi.org/10.1080/24724718.2019.1623646","url":null,"abstract":"Abstract Mega infrastructure investments currently feature as significant aspects in many of the development agendas worldwide. Such projects are often deemed ‘unsuccessful’ because they have been unable to meet their original expectations in terms of outturn cost, on-time delivery and construction quality. This paper aims to contribute to the debate concerning broader definitions of project success by presenting the findings from an evaluation of 27 mega transport projects drawn from nine countries with respect to their achievements towards multiple dimensions and challenges of sustainable development (SD). The study found the projects exhibited a generally low adherence to SD principles and that the lack of a shared vision threatens to undermine the potential for mega infrastructure to contribute positively to its delivery. The absence of clarity and consensus poses a number of critical challenges for mega infrastructure planning, including questions about whether they can effectively meet the needs of intra and inter-generational equity (and socio-economic equity), as well as global concerns about such matters as emissions, fuel scarcity and climate change.","PeriodicalId":143411,"journal":{"name":"Journal of Mega Infrastructure & Sustainable Development","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114647293","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Tackling Europe’s infrastructure needs: the European Fund for Strategic Investments","authors":"Noel Gregor Paterson-Jones","doi":"10.1080/24724718.2019.1594567","DOIUrl":"https://doi.org/10.1080/24724718.2019.1594567","url":null,"abstract":"Abstract This paper focuses on Europe's response to the slow pace of recovery following the 2008 economic crisis. There was a 15% decline in investment in key economic sectors, including strategic infrastructure. Potentially good but higher risk projects were struggling to find investment. Money was available in the system, but economic uncertainty was stopping investors from taking risk. To address this market failure, the European Union (EU) developed an Investment Plan for Europe (IPE), popularly referred to as the Juncker Plan.1 The IPE comprises a three-pronged strategy the key pillar of which is the establishment of a guarantee fund, the European Fund for Strategic Investment (EFSI). EFSI is designed to overcome the perceived market failure by mitigating project risk and mobilising private investment to address market gaps.2 It is a simple but powerful financial instrument that seeks to put investment capital back to work and exploit the opportunity to address Europe's infrastructure needs while borrowing costs are low and liquidity relatively plentiful for eligible projects. The paper discusses the theory behind the policy, how it contributes to delivery of the EU's commitment to sustainable development as embodied in its 2020 Strategy, and whether it is supported by academic economic consensus.","PeriodicalId":143411,"journal":{"name":"Journal of Mega Infrastructure & Sustainable Development","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130356791","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Green Book: Central Government Guidance on Appraisal and Evaluation","authors":"Martin Hurst","doi":"10.1080/24724718.2019.1607713","DOIUrl":"https://doi.org/10.1080/24724718.2019.1607713","url":null,"abstract":"The UK’s Treasury Green Book (sub-titled ‘Central Government Guidance on Appraisal and Evaluation’)1 has in its earlier incarnations for decades steered UK government policy makers and economists t...","PeriodicalId":143411,"journal":{"name":"Journal of Mega Infrastructure & Sustainable Development","volume":"40 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132057289","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Sustainable development and mega infrastructure: an overview of the issues","authors":"S. Sturup, N. Low","doi":"10.1080/24724718.2019.1591744","DOIUrl":"https://doi.org/10.1080/24724718.2019.1591744","url":null,"abstract":"Abstract Sustainable development is a concept which has only recently been applied to the analysis of infrastructure megaprojects. Yet new built infrastructure has a crucial role to play in both the continued and future development of communities, societies and ultimately the world economy and global ecosystem. This paper discusses the meaning of ‘sustainable development’ and ‘sustainability’ in terms understood from its origins in the relationship between economic development and the conservation of the natural world. While the definition of sustainability has perhaps moved beyond its origins, it remains the case that no condition of sustainability can be conceived without bringing our relationship to the natural world into balance, and thus we work from this perspective from which we explore some of the ways sustainability might be applied to megaprojects. In so doing, we hope to open a discussion to which future contributions to this journal can contribute.","PeriodicalId":143411,"journal":{"name":"Journal of Mega Infrastructure & Sustainable Development","volume":"81 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129130795","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Clarifying terms, concepts and contexts","authors":"H. Dimitriou, B. Field","doi":"10.1080/24724718.2019.1618652","DOIUrl":"https://doi.org/10.1080/24724718.2019.1618652","url":null,"abstract":"Given that this is the first edition we begin with a summary of the Journal’s mission. This is followed by a brief consideration of the challenges and importance of employing shared common terminology and key concepts we think critical to the ensuing discussion about mega infrastructure investment and its relationship with efforts to promote more sustainable development. We do this with a view to not only helping to frame the various papers featured in this edition, but also to highlight the importance of contextual factors and stakeholder interpretations of the issues that have influenced decisions and judgements made concerning megaproject outputs and outcomes. We consider this acknowledgement of the importance of the ‘power of context’ and the plurality of stakeholders as particularly important and topical for mega infrastructure decision-making, given the fluidity of contextual change and the many uncertainties this brings to such investments both locally and globally. These contextual transitions can be attributed to geopolitical, environmental, socioeconomic and technological changes that have emerged since the closing decades of the twentieth century and have since intensified, with the global financial crisis of 2007/08 providing an especially important milestone. We see this period as having simultaneously spawned an era of fast-changing technological innovation and a new cocktail of interrelated challenges (some lethal) that suggest a ‘business as usual’ (BAU) approach to mega infrastructure development is not fit for purpose for the delivery of sustainable development visions of the kind envisaged by the 2015 United Nations (UN) Sustainable Development Goals (SDGs) and the UN Paris Conference Climate Change Agreement Targets signed-off in 2016. With the above in mind, we contend that while it is critical to learn from past practices of mega infrastructure development in deciding what we can and should take forward of these experiences, and what we should curtail and abandon, this assessment should not be made without a contextual analysis of the times, cultures, places and stakeholder (including institutional) perspectives from which these lessons have been drawn. To assist in the advancement of knowledge about such developments and how they can inform/enrich the debate regarding issues of mega infrastructure and sustainability, the journal looks to contributions from diverse parties that encompass all sectors of the mega infrastructure milieu, in particular water, energy, transport, information and communications technology (ICT) and other large land-use infrastructure investments, where megaprojects are generally defined as those costing in excess of US$I billion. Infrastructure investments of this scale are targeted on the premise they share certain common characteristics that differentiate them from more modest investments, and potentially pose very significant costs and benefits to the environments and territories they traverse an","PeriodicalId":143411,"journal":{"name":"Journal of Mega Infrastructure & Sustainable Development","volume":"37 3","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133072251","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}