Risk allocation on transport megaprojects: A case for an institutional theory lens

This paper explores institutional theory as a novel lens to examine the praxis of risk allocation on transport megaprojects. A case study of Australia's largest transport megaproject, Suburban Rail Loop Project, has been conducted using institutional theory to provide a better understanding of the dynamics and decision-making process in relation to risk allocation on megaprojects. The research findings identify how institutional instruments were used to shape the front-end of a transport megaproject and allocate risk. An example is the creation of a new and dedicated Minister for the Suburban Rail Loop Project, resulting in the approval powers to streamline and sometimes fast-track the decision-making processes. This paper contributes to the extant knowledge of megaproject management by providing a novel perspective on the praxis of risk allocation on transport megaprojects through the lens of institutional theory.