What does megaproject mean?
Definitions for megaproject
megapro·ject
This dictionary definitions page includes all the possible meanings, example usage and translations of the word megaproject.
Wiktionary
megaprojectnoun
A very large public investment project, especially one costing more than one billion US dollars
Wikipedia
Megaproject
A megaproject is an extremely large-scale investment project. According to the Oxford Handbook of Megaproject Management, "Megaprojects are large-scale, complex ventures that typically cost $1 billion or more, take many years to develop and build, involve multiple public and private stakeholders, are transformational, and impact millions of people". However, $1 billion is not a constraint in defining megaprojects; in some contexts a relative approach is needed, such as in developing countries, where a much smaller project (such as one with a $100 million budget) could constitute a megaproject. Therefore, a more general definition is "Megaprojects are temporary endeavours (i.e. projects) characterized by: large investment commitment, vast complexity (especially in organizational terms), and long-lasting impact on the economy, the environment, and society".Bent Flyvbjerg, a professor at the Saïd Business School of the University of Oxford says that globally, megaprojects make up 8 percent of total global GDP. Megaprojects refer not only to construction projects but also decommissioning projects, which are projects that can reach multi-billion budgets, and have a high level of innovation and complexity, and are affected by a number of techno-socio-economic and organizational challenges.
Wikidata
Megaproject
A megaproject is an extremely large-scale investment project. Megaprojects are typically defined as costing more than US$1 billion and attracting a lot of public attention because of substantial impacts on communities, environment, and budgets. Megaprojects can also be defined as "initiatives that are physical, very expensive, and public". Care in the project development process may be needed to reduce any possible optimism bias and strategic misrepresentation. The logic on which many of the typical mega-projects are built is on its collective benefits, for example electricity for everybody, road access, etc. Mega-projects have undergone a wide criticism for its top down planning process and for its ill effects on certain communities. From the 1960s on, mass mobilization took place against the building of inner city freeways in North America, or nuclear power plants in the US and Germany, or proposal for new airports such as Mexico City in 2001. More recently, new types of mega-projects have been identified that no longer follow the old models of being singular and monolithic in their purposes, but now have become quite flexible and diverse, such as waterfront redevelopment schemes that seem to offer something to everybody. However, just like the old mega-project, the new ones also foreclose "upon a wide variety of social practices, reproducing rather than resolving urban inequality and disenfranchisement". Because of its plethora of land uses "these mega-projects inhibits the growth of oppositional and contestational practices". The collective benefits that are often the underlying logic of a mega-project, are here reduced to an individualized form of public benefit.
Numerology
Chaldean Numerology
The numerical value of megaproject in Chaldean Numerology is: 7
Pythagorean Numerology
The numerical value of megaproject in Pythagorean Numerology is: 5
Translations for megaproject
From our Multilingual Translation Dictionary
- megaprosjektNorwegian
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"megaproject." Definitions.net. STANDS4 LLC, 2024. Web. 29 Mar. 2024. <https://www.definitions.net/definition/megaproject>.
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