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Global Megaprojects: Lessons, Case Studies, And Expert Advice On International Megaproject Management 1st Edition Virginia A. Greiman - Solutions
2. What are some ways in which barriers to innovation can be reduced?
1. Why are innovative initiatives so hard to develop in megaprojects?
10. What is the purpose of the U.S. Foreign Corrupt Practices Act and who does it benefit in a global infrastructure contract?
9. What is the purpose and benefit of a bilateral investment treaty?
8. What is a mandatory law and how does it impact a written contract in a global transaction?
7. What is the role of a concession agreement and who are the typical parties to the agreement?
6. What are some important internationally recognized standards and how will they be beneficial in an international infrastructure project contract?
5. Why is choice of law important in a global contract?
4. What are the advantages of arbitrating a dispute between parties rather than litigating in a foreign court?
3. What are the employment and labor provisions you will be most concerned about in a global infrastructure contract?
2. If you are a contractor or consulting firm what provisions will be most important to you in protecting your company from the damage that may occur from a force majeure event?
1. What are the different types of contracts that can be used in a global infrastructure project?
12. Collaborative contracting is a mechanism used to reduce disputes and align parties’ interests and goals and is a move away from the hierarchical contracts of the past Discussion Questions
11. Dispute Review Boards have been successfully used in many megaprojects
10. As shown by the choice of law provision in the English Chunnel, courts and arbitrators will tend to uphold the chosen law of the parties even if it is seriously detrimental to one of the parties
9. In global projects the right of a lender to step‐in and take over the project when a contractor defaults is a commonly recognized provision
8. Choice of law and forum can be selected by the parties, but both must be clearly stated in the contract so there is no ambiguity
7. One of the most complex and contentious provisions in international contracts for infrastructure is drafting the allocation of risk for subsurface conditions
6. In the United States and most countries, every contract party owes an implied duty of good faith
5. There are certain duties that are enforceable even though they are not part of the written contract
4. The World Bank’s Environmental and Social Framework (ESF)applies to almost all Multilateral Bank contracts
3. Guaranteed maximum price contracts are a useful structure for megaproject contracts
2. Public procurement plays a key role in the Europe 2020 Strategy
1. Contracts represent an important governance structure for megaprojects
15. Arbitrationa. Is arbitration of disputes permissible and may the parties choose the arbitral forum where disputes will be resolved.May the parties select their own arbitrators?b. Are there any matters that are not arbitrable?
14. Bribery and Corruptiona. Are there laws that protect against corruption, fraud, and other related crimes?b. What are the penalties for bribery and corruption?c. Are the laws enforced?d. Is the host country a member of any treaty such as the Budapest Convention?
13. How is Force Majeure Applied?a. Does the country have a legal definition for force majeure?b. Is it stricter or more flexible than the stakeholder’s home countries laws?c. Can a force majeure provision be agreed upon by the parties that may create lesser or greater liability than the home
12. Employment Lawsa. Are there any restrictions on foreign workers, technicians, engineers, or executives being employed by a project company?b. Will workers from other countries be able to retain their home country rights including protections from discrimination or termination?
11. Does the country have security rights for creditors?a. If so, what are the terms and formalities for security creation and are these liens enforced?b. In what assets can security be obtained?c. Are there any restrictions on enforcement of security? Can a blanket lien be obtained over all assets?
10. Does the country have a Public‐Private Partnership Law or Framework?a. What are the minimum and maximum investment provisions?b. How are these arrangements structured legally?c. What are the potential liabilities for the private partners?
9. Is there a Bilateral Investment Treaty with the host country?a. Has the Host Country implemented a bilateral investment treaty?b. What are the protections under this Treaty? Are investors protected from expropriation, nationalism, discrimination, compensation for violations?
8. What are the Key Environmental, Social and Governance Considerations?a. What are the sustainability requirements required by the countries laws or regulations and who oversees that these requirements are met?b. What are the rights of the members of the local communities impacted by the
7. What are the procurement requirements?a. How are projects advertised and noticed to potential bidders?b. Are home country bidders preferred over foreign bidders?c. What are the general project criteria for selecting the project designers and contractors?d. Is the project low bid or subject to
6. What are the Labor Customs and Practice?a. The viability and roles of the trade unionsb. The ability to employ managers and workers outside the host countryc. The application of international labor standardsd. The right to strike
5. How lengthy is the project regulatory approval process?a. To whom is the risk of permitting allocated?b. Will there be one stop shopping for all permits?c. Will the government assist with the obtaining of permits?
4. What are the cultural issues concerning large scale megaproject development?a. Are there important social requirements that must be considered in the project framework?b. Are there particular issues regarding green development, climate change and other environmental concerns?c. Will there be
3. What is the ability of the Public to question and protest project plans if they are averse to the building of the project?
2. Are Special Purpose Vehicles permitted as a form of corporate organization or are other options available?
1. How transparent is the host government and the political system where the project will be located?
9. Will the law be enforced? In what jurisdictions can I bring a cause of action?
8. Is there public policy or mandatory law that is applicable?
7. Can the law be modified in the agreement?
6. Who will interpret the law? A court, an arbitrator, a mediator, an expert appointed by the parties.
5. Who does the law favor most? The owners, the sponsors, the contractors, others?
4. Are there criminal laws that may be relevant to an investment such as bribery, financial crimes, fraud, or antitrust violations?
3. Do the national or local laws include provisions on environmental, labor, finance (investment limits), procurement processes, or other regulatory requirements?
2. Does the country have a constitution with provisions that may be relevant to international and foreign direct investment?
1. Is there an applicable treaty, convention, or international law?These may include bilateral or multilateral investment treatments or enforcement of arbitration or judicial decisions.
10. When might success be a bad thing and failure be a good thing?
9. What does the research teach us about the causes of success and failure?
8. What are the critical drivers of megaproject success and failure?
7. What are the best strategies to use in terminating a project that has no identifiable benefits to continue?
6. How can you mitigate the likelihood of corruption, criminal activity and fraud?
5. Assuming you are the Project Director of a large megaproject, what strategy would you use to make sure your project succeeds in delivering the expected benefits.
4. Give an example of a project that was difficult to kill and the reasons why?
3. Define the meaning of resilience and mindfulness in achieving project success.
2. How can escalation of commitment be controlled before it is too late? Provide an example of an actual case study.
1. How can you find success in a project that has failed dramatically to meet its budget and schedule?
9. The characteristics of sustainability, resilience and mindfulness must be ever present throughout the long life of a megaproject.Discussion Questions
8. Will the project focus on the most consequential or profitable things first?
7. Recognize that sometimes failure is not a bad thing; and that success is not always a good thing.
6. Identify the project’s success factors and then evaluate those factors to ensure they have been achieved.
5. Understand the benefits and impact the project will generate and then evaluate both throughout the project’s life cycle.
4. Focus on the project’s economic analysis and business case and not just the project’s budget and schedule.
3. Beware of escalating commitments and understand how a project can be terminated before it is too late.
2. Make sure the solutions are technically, economically, and strategically feasible.
1. Identify the problem the project is trying to solve and then make sure you have assessed the need for the project prior to execution of the project.
4. What are the most promising directions for research?
3. What can decision makers do to curb project runaways?
2. What drives decision makers to persist with economically poor megaprojects?
1. How does escalation start?
10. Will the project focus on the most consequential or profitable things first?
9. Is success always a good thing?
8. Is failure always a bad thing?
7. How will we know the project is successful?
6. What benefits and impact will the project generate?
5. Why do some projects survive despite a weak economic analysis?
4. How can a project destined to fail be terminated?
3. What causes a project to escalate its commitment?
2. Are the solutions to the problem feasible?
1. What is the problem the project is trying to solve?
what is the
14. How would you conduct a qualitative risk analysis in a developing country to ensure all risks were captured in your risk register and all possible risk management strategies were employed?
13. How can risk intelligence assist in managing and controlling risk?
Describe the top 10 questions you would ask the project director before beginning your responsibilities as director of risk management.
12. Assume you were hired as director of risk management to develop a risk program for a new tunnel project in the United States. The project director has given you full authority to develop the high‐level framework and structure for this project.
11. What are the most important factors to consider in changing behaviors?
10. How would you create a culture of fact‐finding rather than fault finding on a project with serious safety concerns and near misses?
9. How would you identify risk opportunities on a project?
8. Distinguish between a hazard and a risk. As a risk manager, would you manage a hazard differently than a risk? Explain why or why not. Should certain risk issues have a higher priority than others?
7. How would you prioritize actions in a risk assessment? Would you look at: Impact of the risk? Probability of the risk? Public concerns? Perceptions of risk?Stakeholder expectations? Other concerns?
6. Risk managers often face ethical decisions concerning conflicts of interest, transparency, environmental obligations, and political risk. Provide an example of an ethical dilemma a risk manager might encounter and explain how you would resolve this dilemma.
5. PMBOK states: project risk has its origins in the uncertainty present in all projects. It defines known risks as those that have been identified and analyzed, making it possible to plan responses for those risks. Specific unknown risks cannot be managed proactively, which suggests that the
Cost and schedule risks? Political risks? Environmental risks? Does it depend on the size of the project? The location of the project? The type of project(infrastructure versus research and development)? What factors would you consider in structuring your risk management services?
4. Should the risk manager in a megaproject be responsible for construction risks?
3. What should the role of a risk manager be in a project versus in a program? Are the roles identical? What are the differences?
2. How would you conduct a quantitative and qualitative analysis of the consequences of a disaster, such as a fire in your plant? What type of data would you require? What would your standard form of measurement be?
1. How do you avoid complacency when your project has repeatedly been successful at inherently hazardous or difficult tasks?
17. Reporting of all incidents, unsafe conditions, and at‐risk behavior is essential to foster learning and continuous improvement.
16. Creating a culture of fact finding rather than fault finding and rewarding behavioral change are important factors in risk mitigation and control.
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