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  • The Panama Canal: Mark Nasser 9 November 2020

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    Mario Farhat
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    The document discusses the history of attempts to build the Panama Canal. It describes how Ferdinand De Lesseps, who built the successful Suez Canal, was appointed in 1877 to manage the Panama Canal project. However, the project faced many problems, including landslides caused by heavy rainfall, tropical diseases like malaria and yellow fever that killed over 20,000 workers, and cost overruns that led to bankruptcy in 1889. The canal was ultimately completed in 1904 under U.S. leadership.

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    project management

    Original Title

    Panama Canal

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    The document discusses the history of attempts to build the Panama Canal. It describes how Ferdinand De Lesseps, who built the successful Suez Canal, was appointed in 1877 to manage the Panama Canal project. However, the project faced many problems, including landslides caused by heavy rainfall, tropical diseases like malaria and yellow fever that killed over 20,000 workers, and cost overruns that led to bankruptcy in 1889. The canal was ultimately completed in 1904 under U.S. leadership.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    10 views10 pages

    The Panama Canal: Mark Nasser 9 November 2020

    Uploaded by

    Mario Farhat
    The document discusses the history of attempts to build the Panama Canal. It describes how Ferdinand De Lesseps, who built the successful Suez Canal, was appointed in 1877 to manage the Panama Canal project. However, the project faced many problems, including landslides caused by heavy rainfall, tropical diseases like malaria and yellow fever that killed over 20,000 workers, and cost overruns that led to bankruptcy in 1889. The canal was ultimately completed in 1904 under U.S. leadership.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 10

    The Panama Canal

    Mark Nasser
    9 November 2020
    Outline

    • Ferdinand De Lesseps
    • History of Panama Canal
    • How it began
    • Problems faced
    • Outcome
    Ferdinand De Lesseps
    • Diplomat and Entrepreneur
    • Developed “Suez Canal” in 1869
    • Yielded huge profits
    • Appointed in 1877 to manage the “Panama Canal”
    History

    • Concept dates back to 1534, King of Spain wanted to gain military


    advantage over the Portuguese in Peru
    • In 1850, US constructed a rail road across the isthmus to deliver
    between ships in the Pacific and Atlantic Oceans
    • In 1855 a US Engineer proposed a plan including the commercial
    benefits of building a canal
    How it Began (January 1, 1881)
    • De Lesseps Raised considerable
    amount of funds after the high profits
    generated from the Suez Canal.
    • He visited the site only few time in the
    dry season.
    • The Plan was to build a sea level canal
    • Expected 8 years and 658 M FF to
    complete
    Problems Faced
    • In rainy season water raised >10 m
    • Landslides constantly occurring bringing the sand back in the water
    • After 2 years, they couldn't dig 1/10 of the canal

    • Poisonous snakes and spiders were also an enemy


    • Malaria and yellow fever did strike too (>200 casualties /month)
    Outcome

    • They couldn't shift to lock type canal since they ran out of money
    • 22,000 Casualties (20,000 from Yellow Fever and Malaria)
    • Declared bankruptcy in 1889
    • Total Spending 287 M $
    • 800,000 investors lost their savings
    Bad risk Management?

    • Visits in Dry Season only


    • Did not account for landslides
    • Did not account for tropical diseases

    • 1904, President Theodore Roosevelt


    took the challenge and succeeded
    Thank you

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