Megaprojects merge-scale and complex enterprises that correspond to several criteria: cost from 1 billion dollars and more, development and construction over the course of many years, unification of public and private stakeholders, impact on millions of people. Take a look at how to make it true with the data room for startups in the article below.
The Scale and Nature of Mega Project’s Realization with the Virtual Data Room
From the point of view of the practice of strategic territorial management, the important question is whether the potential of successful territorial megaprojects will be preserved and increased. It depends on whether the government will be able to effectively use the positive experience of the past, not repeat its mistakes and not create the basis for new threats. This requires an objective analysis of both successful and unsuccessful projects.
The scale and special nature of such projects lead to specific problems in megaproject management:
- change management – for example, decision-making, planning, megaproject management requires the involvement of public and private stakeholders, which leads to a conflict of interest;
- risk management – for example, the technologies and standards used are often non-standard, developed specifically for a megaproject. Project managers cannot study the cases of other megaprojects “by analogy”;
- performance reporting – for example, in the early stages, the concept, idea, profitability of a megaproject is reassessed, which makes problems appear too late to solve them;
- control of documents – so, in different countries, project documentation and requirements for its maintenance and execution differ. In addition, for megaprojects, the array of documents includes data from a variety of areas: from permits and licenses to plans for subprojects and tables with metrics.
Data Room Provider as the Collaboration Engine to Drive Mega Projects
When determining the category of an investment project, the following characteristics are taken into account:
- the scale and scope of the investment project;
- the number of organizations involved in the implementation of the investment project;
- the strategic importance of the solution.
To send files with a virtual data room provider for startups as the collaboration engine to drive megaprojects, the user uploads them to the store, configures access, and sends a link to the recipient. The process can be automated since many developers implement integration with file managers, mail programs, instant messengers, and other popular software in client applications. In this case, the process of downloading and sending does not look much more complicated than attaching an attached file to an email. If the documents are protected using DRM technologies, the recipient will have to install special agent software on the computer that controls the correctness of their use. In this case, there are more control possibilities, but far from all types of data will be able to protect with DRM – usually only Microsoft Office documents.
Thus, the question of whether to trust or not to trust data room services remains open in any case, and everyone will make the appropriate decision independently. But in order for this decision to be balanced, it is necessary not only to understand for oneself the fundamental possibility of using a cloud service for an organization, but also to determine what information it can be suitable for, and of course, it is imperative to check with the provider the technical and organizational details.