Learning from corporate governance: improving megaproject performance through best practices in organisational architecture - PHD

Loughborough University

What can megaproject governance learn from the governance of large corporations? Megaprojects face an alarmingly high failure rate, with roughly nine out of ten experiencing significant cost overruns, delays, or benefit shortfalls – commonly referred to as the ''iron law of megaprojects.'' These challenges are often rooted in governance failures, such as unclear leadership, lack of accountability, and poor coordination among stakeholders.

Megaproject governance typically relies on temporary and fragmented frameworks involving diverse stakeholders, international consortia, and multiple layers of governmental or regulatory oversight. These structures often lead to slow, opaque decision-making processes, unclear accountability, and delayed responses to risks or changes in project scope. In contrast, large multinational corporations have developed advanced governance systems that enable them to handle significant complexity while maintaining speed, efficiency, and adaptability.

This research aims to investigate how lessons from corporate governance practices in large organisations can inform and improve megaproject governance. Through comparative case studies, the project will examine key governance principles and strategies from global corporations and explore their applicability to the unique challenges of megaprojects. This study offers the opportunity to collaborate with some of the world’s largest corporations and megaprojects, contributing to a deeper understanding of governance innovation in complex, high-stakes environments.