Lesson overview

In this lesson, you will be introduced to the concept of transaction costs and explore a case study from the nuclear sector to explain how project management can have an impact on transaction costs, productivity and outcomes.

Successful completion of the lesson will help you to:

• understand what is meant by the term transaction costs

• identify the types of transaction costs involved in managing and running major projects

• compare and contrast two examples of nuclear project management and analyse how the management approach has an impact on operations and output.

Coming up...

In the following video you will hear about transaction costs and learn about the difficulties in quantifying transaction costs associated with project management.