Another Multi-Year Project Debacle. What’s New?
I’ve previously written about the underwhelming success rates of multi-year projects whether they are managed by governments or the private sector (for example - Boeing’s well publicized snafus with their Dreamliner project). This week, another multi-year project mess was highlighted that hits closer to home (literally and figuratively) and I’m talking about the World Trade Center rebuilding.
According to reports, the rebuilding of the WTC won’t be done until the middle of the next decade and will cost as much as $3 billion more than initially planned. My wife and I live in Manhattan’s Financial District so personally, this is disappointing as the revitalization that would have accompanied the new WTC site would be great for the area. Moreover, as someone who was at the WTC on 9/11, it would be nice if the memorial to the many victims was completed at least by the 10 year anniversary of the event.
But alas, as with virtually all other multi-year projects, the fate of this high profile project seems no different. I fear the delays and budget overruns will only increase over time. Despite the work of numerous smart people (and from the looks of it some not so smart ones as well), a likely army of project managers and the pressure of a city and country on the project planners to get this done, it seems nothing can save these gargantuan projects.
In virtually every post on multi year projects I’ve ever written, I always close asking people to provide me an example of one multi-year project that has gone well. By gone well, I mean the project delivered on time and on budget. I’ve yet to ever hear from anyone about such a project. Despite all that is written about multi-year projects, is the success rate really zero percent. Let’s hope not.
In the meantime, we’ll continue to wait and hope that the WTC site rebuilding is not delayed further.
