Title: Risk management in a mega-project: the Universal EXPO 2015 case
Author: Giorgio Locatelli, Mauro Mancini
Department of Management, Economics and Industrial Engineering, Politecnico di Milano, Piazza Leonardo da Vinci, 32, 20133 Milano, Italy.
Department of Management, Economics and Industrial Engineering, Politecnico di Milano, Piazza Leonardo da Vinci, 32, 20133 Milano, Italy
Journal: Int. J. of Project Organisation and Management, 2010 Vol.2, No.3, pp.236 - 253
Abstract: The paper analyses the literature on risk management in mega-projects suggesting possible mitigation actions to be considered in the stakeholders' management. EXPO 2015 represents a perfect project to understand the strength of a rigorous methodological approach to uncertainty and the need for a mature consciousness at managerial level on these topics. Analysing real available data on this project, the number of visitors appears overestimated, so, by adopting a framework, called SHAMPU, the paper quantifies the relative impact and provides possible mitigation actions. Practical actions crossing the risk management phases in mega projects proposed by literature are suggested in the conclusions.
Keywords: mega-projects; EXPO 2015; risk management; optimism bias; project management; uncertainty; visitor numbers.