Luis Rey authored an article, The Particulars of Megaprojects, that has been published in the ITA in Review Journal (Volume 7, Issue 3). The article explores the high costs, recurring issues, and delays that often affect megaprojects.

Megaprojects continue to face chronic cost overruns, schedule slippage, and execution failures, creating significant contractual, regulatory, and dispute-related exposure for owners, contractors, and joint venture partners. This persistent underperformance—driven by inadequate front-end definition, unrealistic schedules, leadership turnover, and the structural complexity of multi-party delivery models—motivates this paper’s examination of why traditional governance and risk allocation frameworks have not kept pace with the realities of modern capital programs. As megaprojects grow in scale and involve increasingly diverse commercial interests, the industry’s prevailing management and contracting approaches often amplify, rather than mitigate, legal and operational risk. This paper argues for a shift toward more adaptive planning, clearer risk ownership, stronger early-stage controls, and culturally aligned joint venture structures to strengthen accountability, improve overall project outcome, and reduce the potential for disputes.

Read the full article.