Thomas Machiels

TL;DR: An in-depth literature review of 42 papers of real options applications to megaprojects serves as a benchmark to analyse if current real options literature meets these three expectations and provides an agenda for further research as to how ROT can better meet its expectations and fulfill its potential for the planning of megapprojects.

TL;DR: In this article, the authors ask why uncertainties are avoided in dominant megaproject practice while planning scholars are increasingly advocating adaptive planning and uncertainty acknowledgement, and they propose a no...

TL;DR: A framework for design under conditions of uncertainty is developed, drawing upon theories of real options in finance and economics, and five generic design strategies are identified, offering different flexibility options to urban design.

TL;DR: The social cost−benefit analysis (SCBA) and environmental impact assessment (EIA) are increasingly used to support decision making (DM) in megaprojects.

TL;DR: In this article , the Flemish A102 road project was investigated to understand stakeholders' perceptions of uncertainty in megaprojects, and four perception groups were revealed that show why understanding perceptions of uncertainties in megaphorages matters: (i) uncertainty management must be broadened by considering relations between uncertainties; (ii) assessing whether uncertainties are irreducible or reducible and how they should be managed can be perceived differently; (iii) stakeholder analysis must aim to understand stakeholder heterogeneity and avoid classifying stakeholders based on a priori assumptions; (iv) revealing perceptions of the uncertainty can help project managers anticipate conflict and prepare for stakeholder dialogue and engagement.