Drivers of the Regional Economic Growth and the Problem of "White Elephants" of the Russian Olympic Megaproject "Sochi 2014"

Mitrofanova, Inna; Russkova, Elena; Batmanova, Victoria; Shkarupa, Ekaterina

doi:10.5901/mjss.2015.v6n4s2p267

Cited by 9 publications

(7 citation statements)

References 5 publications

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“…Most of the literature identified the characteristics of small and medium-sized construction firms as not suitable to be considered by all categories of clients for projects of higher complexities and profitability, for fear of their abilities to meet the overall success of projects (Wasi, Bridge & Skitmore, 2001;Dlungwana & Rwelamila 2003;Uduak, 2006;Ibrahim, Githae & Stephen, 2014;ILO, 2015;Mitrofanova et al, 2015;Hussain & Abdul Hadi, 2018). Dlungwana & Rwelamila (2003: 3) identified the key features of small-sized contracting firms as largely unregistered, operation in the informal sector of the economy, hardly any formal business systems, largest percentage of total contractors, and very few permanent staff, usually less than ten employees.…”

Section: Characteristics Versus Project Performance Of Construction Fmentioning

confidence: 99%

Performance analysis of small and medium-sized construction firms in Oyo State, Nigeria

Abosede

Opawole

Babalola

et al. 2019

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This article examines time and cost performance of projects executed by small and mediumsized construction firms with a view to enhancing the firms' capabilities. The study adopted a quantitative descriptive analysis based on primary and archival data. Sixty-eight (68) valid questionnaires obtained from top managers of the firms provided primary quantitative data for the assessment. Secondary data were collected on the initial and final contract sums as well as on the initial and completion times of 184 public projects executed by the firms. Data collected were analysed using descriptive analysis. The findings indicated that the small firms specialised in general building works, while the medium-sized firms specialised in civil works, in addition to general building works. Project values in the case of small construction firms ranged between N1 million and N50 million, while those of medium-sized construction firms ranged between N51 million and N100 million. The performance index (PI) of the projects executed by the firms showed a general underperformance level. Approximately respectively, had cost performance index (CPI) at budget level (CPI = 1). Meanwhile, 37.42% of the projects executed by the small firms and 24.13% of those executed by medium-sized firms were completed as planned, that is, they had schedule performance index (SPI = 1). The article provides implications for understanding the influence of the construction firms' profile in relation to their PI that could assist in the capability development of small and mediumsized construction firms.

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Section: Characteristics Versus Project Performance Of Construction Fmentioning

confidence: 99%

Performance analysis of small and medium-sized construction firms in Oyo State, Nigeria

Abosede

Opawole

Babalola

et al. 2019

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“…Thus, the megaprojects are confronted with administrative and managerial risks as a result of an efficient management, a plenty of responsible executers and so on. For the investors it is important that both initiators representing the business and the government there would be only one responsible executor (the "one window" principle) (Mitrofanova et al, 2015a;Mitrofanova et al, 2015b).…”

Section: Risks Appropriate To Territorial Megaprojectsmentioning

confidence: 99%

“…The construction of the Olympic objects in the mountains and coastal clusters cost about RUB 220 billion (USD 6.9 billion). However neither in the process of the design works nor in the process of the Olympic construction the peculiarities of the Sochi climate were not fully taken into consideration (Mitrofanova et al, 2015a). Meanwhile the Olympic object of the mountains cluster is constantly threatened by the landslides that's why the State Corporation "Olympstroy" was fined for the violation of the safety requirements.…”

Section: Manifestation Of Corruption Risks and Competence Risks Durinmentioning

confidence: 99%

“…That's why at a stage of its realization some circumstances that reduce its reliability as a whole may arise. For instance: 1) changes in the strategy of the territorial development, dislocation of production, reassessment of potential natural resources resulting from the development of new deposits are taking place; 2) problems in the provision of the succession of the strategies approved earlier and correspondingly in the priorities of social and economic development of territories appear; 3) if the approved temporal consequence of construction and introduction into use of some objects of a megaproject were not based from the point of view of technological relations, economic expedience or, for instance were marked by a weak linkage with the development of the capital engendering industries of a territory (Mitrofanova et al, 2015a;Mitrofanova et al, 2015b). Today in Russia among the projects planned for the realization and those that are being implemented the oil and energy complex, metallurgy and infrastructural industries are dominating.…”

Section: Introductionmentioning

confidence: 99%

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The Influence of Universal and Specific Risks on Quality Management During Implementation of Large-Scale Russian Investment Projects in the Conditions of Uncertainty

Mitrofanova¹

2019

IJQR

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The aim of the article is to display the identification features of current territorial megaprojects as a relevant tool of the state strategic management and to reveal a number of specific risks, accompanying quality management in the processes of the development and the realization of large investment projects. As a rule a megaproject is connected with a long term prospect that intensifies its probabilistic character and provokes one or another risk: macroeconomic, political, geographical, engineering, technical, financial, commercial, organizational and legal, tariff, taxation one and others. Special attention is paid by the authors of the article to such types of the risks as a risk of competence and a corruption risk. Using the example of current Russian megaprojects such as, for instance, "Ural Industrial-Ural Polar", construction of the Olympic objects in the city of Sochi, it was shown that these risks became the reason for the rebranding of the megaproject or they lead to a considerable increase of the fact costs in comparison with the planned ones. The authors are convinced that the display of possible corruption risks at the pre project stage, taking into account of reputation risks and the elimination of risks of low competence are an important task implying the reduction of the uncertainty of the final effect from the realization of the territorial integrated megaproject.

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“…Flyvbjerg and Stewart show that the costs of development for the Games have, on average, run beyond estimates by 179 per cent in real terms since 1960. 34 Overruns may have fiscal implications that endure as financial burdens for many years, as exemplified by the case of Montreal, which took forty years to pay off debts incurred through development for the 1976 Games, and by Athens where costs overruns helped exacerbate the impacts of the 2007-12 financial crisis. 35 Developments are often associated with high ongoing maintenance and operation costs, as illustrated by the annual requirement of ten million dollars to maintain Beijing's 'Bird's Nest' Stadium, which is largely unused.…”

mentioning

confidence: 99%

Avoiding white elephants? The planning and design of London’s 2012 Olympic and Paralympic venues, 2002–2018

Davis

2019

Planning Perspectives

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An issue commonly identified with the vast and costly developments that cities produce to host the Olympic Games is that they are prone to becoming 'white elephants'obsolete or underused constructions that become cost burdens for cities. White elephants are particularly associated with some of the most recent Games of the twenty-first century, as reflected in accounts of 'limping' or obsolete venues in Sydney, Athens, Beijing, Rio and Sochi. This paper begins with a review of issues associated with spatial planning, architecture and planning process in the production of white elephants in Olympic history. It goes on to provide an historical account of London's efforts from 2002 to 2012 avoid attracting a repetition of the critique that followed earlier Olympics. Finally, it assesses its ongoing efforts and record over the six-year period from 2012 to 2018.

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Drivers of the Regional Economic Growth and the Problem of "White Elephants" of the Russian Olympic Megaproject "Sochi 2014"

Abstract: Abstract

Cited by 9 publications

References 5 publications

Performance analysis of small and medium-sized construction firms in Oyo State, Nigeria

Performance analysis of small and medium-sized construction firms in Oyo State, Nigeria

The Influence of Universal and Specific Risks on Quality Management During Implementation of Large-Scale Russian Investment Projects in the Conditions of Uncertainty

Avoiding white elephants? The planning and design of London’s 2012 Olympic and Paralympic venues, 2002–2018

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