When Do Mid-Project Reviews (MPRs) Deliver the Greatest Project Benefits? Comparative Analysis of Australian Review Outcomes

摘要

Increasing infrastructure investment necessitates the application of reference class forecasting approaches to reduce bias involved in decisions to achieve better outcomes. Widely adopted internationally, mid-project reviews (MPRs) have recently gained popularity in Australia. This paper, for the first known time, uses a unique set of Australian data to determine where in the life cycle of a project the most benefits are achieved by undertaking MPRs. Comparative analysis of Gateway review outcomes at various Gates (decision points) is conducted by the evaluation of eigenvalues formulated from Gateway results and recommendations. Differences between benefits computed for specific Gates are cross-checked for statistical significance. It is concluded that the business case stage, leading to project approval, is where the most potential benefits are obtained from MPRs. Outcomes of this research also provide management guidelines on the most efficient timing to undertake MPRs.