Summary

The study of the Financial Management of large projects is an issue of major interest, since this
type of project often encounters financial distress despite the existence of significant
opportunities to improve the way managers make major investment decisions, and then structure
and finance them.
But there is few literature reviews focused on the financial aspects of large projects. Therefore,
this paper will perform a bibliographic analysis of the papers that focus on financial aspects in
large projects, with a previous identification and analysis of the financial aspects studied in
previous literature. The main result is the identification of gaps in research into financial
aspects of large projects. The specific objective of the article is to analyses financial aspects of
large projects, to applied financial theories to large project management and to investigate are
the potential areas for further research on Financial Management of large projects.
The study is secondary sources of data collection from articles review related with research
questions published from 2000 to February 2013 as stored in the main databases. And analyzed
in both a quantitative and a qualitative way
The methodology applied is a bibliographic review of articles related with research questions
published from 2000 to February 2013 as stored in the main databases. The findings show that
performance is the most intensely studied aspect although no agreement in performance
measurement has yet been reached.
More research, in general, and more detailed case studies and survey studies, in particular, are
required in order to provide a basis for the improvement of megaproject management. Areas of
further research can focused on a comprehensive analysis of the financial structure,
performance and valuation of megaprojects.
Theories discussed in the paper are about financial structure on the success of large projects and to
analyses the research published in high-impact journals on Financial Management in large
projects.
The contribution is to perform a bibliographic analysis of the papers that focus on financial
aspects in large projects, with a previous identification and analysis of the financial aspects
studied in previous literature. The main result is the identification of gaps in research into
financial aspects of large projects.
As discussed in paper In order to identify the articles that have studied financial
aspects in megaprojects and thus respond to the research question set, a systematic
literature review following the methodology described by Medina-Lopez, Marin-
Garcia, & Alfalla-Luque (2010) has been performed.
To analyses the selected articles, papers were classified according to the type of research
developed. Most of the investigation is empirical, namely, case studies. Moreover, 22.4% of the
research is theoretical/ conceptual and analyses one or more specific aspects of megaprojects,
without focusing on any specific case and/or simply citing cases as examples. Only 14% of the
papers develop models or simulations to improve planning or management, or to avoid delays.
Finally, 3.7% of the papers are formal reviews of the literature, none of which is focused on the
financial aspects of megaprojects.
The number of papers in this field has been increasing in recent years, although publications that
focus on the financial aspects of megaprojects remain scarce in high-impact journals. Case
studies constitute the most widely applied methodology where, in general, only one single case is
presented. The most commonly studied topic is the financial performance although no agreement
on performance measurement of megaprojects has yet been reached. The valuation of the
megaproject is seldom performed although it represents the financial objective of any
corporation. Research into financial aspects remains scarce, as do studies into the financial
structure of large projects. Other related areas of research, such as Stakeholder or Risk
Management, and Public-private Partnerships, are of major interest. More research, in general,
and more detailed case studies and survey studies, in particular, are required in order to provide a
basis for the improvement of megaproject management. Areas of further research can focused on
a comprehensive analysis of the financial structure, performance and valuation of megaprojects.
The conclusion of the article is aligned with the finding of the study.
The Article has direct relation with my course and enables me to understand financial
managements of any projects. It also provided valuable insight into the identification Financial
Management of Large Projects in construction industry.
The article provided significant and potentially influential contributions to the practical
knowledge about current tools and techniques of Financial Management and the Strategic
Selection of Cost Management System and focusing on Financial Management of Large Projects
which is directly related to the course. It tries to identify the current tools and techniques used in
Financial Management of Large Projects on the going construction projects. It helps to identify
and address the best selection of Cost Management of Large Projects in order to save huge
amounts of time, money and other resources. The Financial Management of Large Projects helps
the Organization team to identify and describe the various Cost management models and
systems available for financial managers to consider. The better the Financial Management and
The Strategic Selection of Cost management System processes, cost overrun, and delay are
minimized, the better the quality of facilities, and save cost and time for other interventions.
Generally The article provided significant and potentially influential contributions to the
practical knowledge about current tools and techniques of Financial Management of Large
Projects.
 Strength
 The paper enables to know Research Gap on Financial Management of Large Projects:
managers seeking to expand their knowledge of a particular model or maintenance
management systems in general
 Papers focused on the financial aspects of megaprojects remain scarce in high-impact
journals are scarce and this paper makes a concerted attempt to link academic research
with Financial management practitioners.
 It finds solution for its specific objectives
 It identifies and describes the various maintenance management models and systems
available for facilities managers to consider.
 The conclusions of the study are aligned with the findings of the study.
 The limitations of the study are clearly stated. this provide a sound foundation for future
research,
 Weakness
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