Special Purpose Entities in Megaprojects

Empty Boxes or Real Companies?

Megaprojects involve organizations called "Special Purpose Entities" (SPEs) also known as "special purpose vehicles." Despite their relevance, particularly for governance, SPEs are under-investigated. In the project management literature, there is neither a widely accepted definition of SPEs nor a clear understanding of what it does. This article presents an extensive literature review, which considers three domains: legal, financial, and project management. Four outcomes are presented: the definition of SPE, the typology of existing SPEs, comparisons of existing SPEs, and descriptions of SPE uses in megaprojects.
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