Engineering errors and other causes lead to an alarming number of failed industrial megaprojects, but the finger should be pointed at the project owner, not the EPC contractor. That's the conclusion of an ongoing, multiyear study conducted by Independent Project Analysis Inc., with the participation of nearly 100 of the largest owners of global industrial projects.
"Of all the things we need to do, the most important is to stop the large project blow-outs," says Ed Merrow, IPA president. "Our industry, overall, has the misfortune that, the bigger it is, the harder and more often it tends to fall."