ABSTRACT
This chapter describes the failure modes and processes and provides the audience with best practices available that may be available to the participants in any project to overcome these hurdles. The MaVa project mentioned on the previous page is only one example of how a project can be unsuccessful: it does not meet the financial criteria that would have applied for both the owner and the contractor. One of the most well-known and widely used studies on successful projects is the earlier mentioned study carried out Edward Merrow on industrial megaprojects, projects funded, primarily, to support commercial business cases. Some of the interviewees, particularly those out of the extracting business, maintained the notion that overruns in terms of costs and time do not necessarily lead to the conclusion that such projects are unsuccessful. From the Mantra’s perspective, a project can only be successful if it is completed and operational within everyone’s budget.
