To deliver on the promise of large residential housing schemes in Jamaica, it’s imperative to confront the challenges inherent in large housing projects, especially within the real estate sector. Large housing projects, due to their expansive scale and intricate nature, are often fraught with a heightened risk of failure from the very beginning. This risk can be attributed to various issues, including insufficient justification, discord among stakeholders, inadequate planning, and a dearth of appropriate capabilities.
A critical factor contributing to project failure lies in the underestimation of costs and overestimation of benefits, skewing the assessment of overall project performance. Thus, it’s paramount for organizations to establish clear social and economic priorities before embarking on any project. This ensures that projects selected are aligned with the community’s needs and priorities, underpinned by transparent, data-driven decision-making processes.
Successful large housin…
