Chaos Theory: Implications for Cost Overrun Research in Hydrocarbon Megaprojects
Cost overruns are a recurrent problem in hydrocarbon (oil and gas) megaprojects. An understanding of why and how they occur is needed if they are to be mitigated; such knowledge can provide managers with the foundations to develop techniques to reduce and contain their negative impacts on a project&...
| Main Authors: | , , , , |
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| Format: | Journal Article |
| Published: |
American Society of Civil Engineers
2017
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| Online Access: | http://hdl.handle.net/20.500.11937/50132 |
| _version_ | 1848758402261450752 |
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| author | Olaniran, O. Love, P. Edwards, D. Olatunji, Oluwole Matthews, Jane |
| author_facet | Olaniran, O. Love, P. Edwards, D. Olatunji, Oluwole Matthews, Jane |
| author_sort | Olaniran, O. |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | Cost overruns are a recurrent problem in hydrocarbon (oil and gas) megaprojects. An understanding of why and how they occur is needed if they are to be mitigated; such knowledge can provide managers with the foundations to develop techniques to reduce and contain their negative impacts on a project's performance. This paper examines the nature of cost overruns in hydrocarbon megaprojects using the theoretical lens of chaos theory. The underlying principles of chaos theory are reviewed and its research implications for examining cost overruns identified. By viewing megaprojects as chaotic or dynamic systems, the industry and research community may be better positioned to develop innovative solutions to mitigate cost overrun occurrence. |
| first_indexed | 2025-11-14T09:43:25Z |
| format | Journal Article |
| id | curtin-20.500.11937-50132 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T09:43:25Z |
| publishDate | 2017 |
| publisher | American Society of Civil Engineers |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-501322017-09-13T16:11:44Z Chaos Theory: Implications for Cost Overrun Research in Hydrocarbon Megaprojects Olaniran, O. Love, P. Edwards, D. Olatunji, Oluwole Matthews, Jane Cost overruns are a recurrent problem in hydrocarbon (oil and gas) megaprojects. An understanding of why and how they occur is needed if they are to be mitigated; such knowledge can provide managers with the foundations to develop techniques to reduce and contain their negative impacts on a project's performance. This paper examines the nature of cost overruns in hydrocarbon megaprojects using the theoretical lens of chaos theory. The underlying principles of chaos theory are reviewed and its research implications for examining cost overruns identified. By viewing megaprojects as chaotic or dynamic systems, the industry and research community may be better positioned to develop innovative solutions to mitigate cost overrun occurrence. 2017 Journal Article http://hdl.handle.net/20.500.11937/50132 10.1061/(ASCE)CO.1943-7862.0001227 American Society of Civil Engineers restricted |
| spellingShingle | Olaniran, O. Love, P. Edwards, D. Olatunji, Oluwole Matthews, Jane Chaos Theory: Implications for Cost Overrun Research in Hydrocarbon Megaprojects |
| title | Chaos Theory: Implications for Cost Overrun Research in Hydrocarbon Megaprojects |
| title_full | Chaos Theory: Implications for Cost Overrun Research in Hydrocarbon Megaprojects |
| title_fullStr | Chaos Theory: Implications for Cost Overrun Research in Hydrocarbon Megaprojects |
| title_full_unstemmed | Chaos Theory: Implications for Cost Overrun Research in Hydrocarbon Megaprojects |
| title_short | Chaos Theory: Implications for Cost Overrun Research in Hydrocarbon Megaprojects |
| title_sort | chaos theory: implications for cost overrun research in hydrocarbon megaprojects |
| url | http://hdl.handle.net/20.500.11937/50132 |