MGM Project CityCenter
16,797,000 sq. ft. mixed-use complex on 76 acres, located on the Las Vegas Strip in Nevada. With a total estimated cost of approximately $9.2 billion, the project is the largest privately financed development in the western hemisphere. It reflects an optimistic vision of the future, a vision that combines a healthy quality of life with a global commitment to sustainable design. Eight award-winning architects have engineered a “city within a city,” where residents and visitors can live, work, and play. This vibrant community will transform expectations, providing a remarkable demonstration that a community can be both beautiful and sustainable.
The project consists of approximately 2,650 condominium and condo-hotel units and approximately 4,800 hotel rooms, distributed within several high-rise and mid-rise towers around a 500,000 square foot retail and entertainment district, hidden parking structures, its own fire station, the use of reclaimed water, an on-site power plant to help power and cool the city, and lots of pedestrian space.
An insurer of a project policy was concerned with the performance of this megaproject.
For the insurer, we implemented our proprietary performance oversight dashboard for stakeholders to oversee the project’s construction progress in real-time. Using project data that was harvested by periodic electronic extraction, the dashboard independently monitored project performance and enforced accountability. The data was applied to a rules-based system that focused on exception indicators, and ultimately triggered and guided management actions.
The implementation of this dashboard system, coupled with the appropriate action and response protocol, afforded stakeholders the opportunity to eliminate surprises by making them aware of potential problems early on so they could be dealt with efficiently and effectively.