Industry can learn from past project failures

The surge of new plant projects built in developing economies during the past 15 years includes both successes and failures.Companies can learn from these experiences by identifying key factors that resulted in major project problems or project successes.This article reviews projects that had noteworthy (and sometimes disastrous) developments. Analyzing past projects sheds light on what should or should not be done on future ones.Approaching this subject through cases in which major problems developed, rather than presenting a sterile list of problems, makes the problems more memorable. The specific projects involved have not been identified for obvious reasons. Since the key elements are...

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