Management trends for major projects

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Abstract
There seems to be a rapidly-developing public need for macro-engineering projects but also a growing disillusionment with cost overruns. The solution requires a new paradigm for the control of large projects: this would include assessing and controlling the costs of the technological, socio-economic, environmental and institutional consequences; improved contractual procedures; and reduction of overruns by regulating innovation with aframe work of open and dynamic system theories as opposed to the traditional approaches that are static and closed. The issues are sufficiently important to warrant the setting-up of a number of university chairs, to encourage the required R&D and improve public understanding of the complex problems involved.

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