The risks of a $1 billion megaproject are, in many ways, like those of similar, smaller projects. Companies want to keep costs down, work with good people and contractors, keep workers safe and hit their deadlines. The difference-maker, of course, is scale, Clive Vaughn, Foster Wheeler’s chief executive for upstream, said during OTC 2013, noting that the price tag for such projects may actually exceed $1 billion because of inflation. “A 10% overrun on a $100 million project is significantly different than the same percentage on a $1 billion project,” he said.
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