Episode 201 -Decoding Megaprojects: Insights with Bent Flyvbjerg (Part 1)

The podcast by project managers for project managers. Part one of our two-part conversation with Bent Flyvbjerg, delving into decoding megaprojects. Bent’s research draws from a database of 16,000 megaprojects to extract valuable insights. Megaprojects are increasingly shaping our world, and Bent sheds light on both their successes and failures, aiming to provide lessons for future endeavors, big and small. Table of Contents 03:52 … “How Big Things Get Done.”06:25 … Examples of Mega Projects08:35 … Iron Law of Megaprojects10:23 … The Success Stories12:28 … Thinking from Right to Left14:44 … Frank Gehry’s Leadership Principle18:42 … Ren Love’s Projects from the Past21:12 … Think Slow and Act Fast26:23 … Guggenheim Bilbao vs. Sydney Opera House30:34 … Find Out More30:43 … Closing BENT FLYVBJERG:  But we made a big effort of, you know, hoovering up all the success stories that we could find and see what we could learn from those and present that to the reader so that we actually, our intention with the book is that people can read this book, and they can start doing their projects better, based on the insights, both the data and the management leadership principles that people who were successful.  So we deliberately sought out people and organizations that have a track record that they can actually deliver one project after another successfully.  So it's not just luck.  They weren't just lucky once.  They actually have some kind of methodology, some kind of system, some kind of process that makes it possible for them to deliver success over and over. WENDY GROUNDS:  You're listening to Manage This, the podcast by project managers for project managers.  I'm your host, Wendy Grounds, and as always I'm joined here in the studio by the one and only Bill Yates. Before we dive in today's episode, we want to remind you to check out our website, Velociteach.com, where you can easily subscribe to the show so you never miss out on the latest insights and discussions.  And if you enjoy what you hear, we'd love you to leave a comment on our website.  Better yet, spread the word about us to your fellow project management enthusiasts.  And you can also earn PDUs, your Professional Development Units, by listening to our podcast. BILL YATES: Looking for an easy and affordable way to maintain your certifications and get better at your job? Our PDU Passport is an all-access pass to every online PDU course in InSite. Take your pick from over 200 high-quality and engaging PDUs aligned to the Talent Triangle. Available when and where you are, with any connected device. WENDY GROUNDS: At Manage This, our focus is on sharing captivating stories of fascinating projects and engaging in conversations with experts who are reshaping the landscape of project management. And today is no different. We're thrilled to have the opportunity to speak with Bent Flyvbjerg. In fact, we're happy to announce that our conversation with actually Bent will span across two episodes. We enjoyed talking with Bent so much that we made the decision not to trim any content, but instead, to extend it across two episodes. Bent is the first BT Professor and Inaugural Chair of Major Program Management at Oxford University's Said Business School.  And we asked him, and the BT stands for British Telecom Corporation.  He's also the professor and chair in Major Program Management at IT University of Copenhagen. He has also received numerous honors and awards, including a knighthood and two Fulbright scholarships.   His latest book is “How Big Things Get Done.” BILL YATES:  Yes.  Somebody recommended his book to me, and I purchased it and started reading it and then got hooked.  The subtitle is “The Surprising Factors That Determine the Fate of Every Project, from Home Renovations to Space Exploration and Everything in Between.”  Bent takes a database of 16,000 megaprojects and looks at their performance, and then extrapolates from that some key findings.