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This paper analyzes the impact of economic downturns on the revenue and expense sides of city financing for the period 2003 to 2009 using a convenience sample of the audited end of year financial reports for thirty midsized US cities. The analysis focuses on whether and how quickly and how extensively revenue and spending directions from past years are altered by recessions. A seven year series of Comprehensive Annual Financial Report (CAFR) data serves to explore whether citiesʼ revenues and spending, especially the traditional property tax and core functions such as public safety and infrastructure withstood the brief 2001 and the persistent 2007 recessions? The findings point to consumption (spending) over stability (revenue minus expense) for the recession of 2007, particularly in 2008 and 2009.

This paper aims to present a structured and comprehensive review of relevant works, collected through a systematic methodology and clustered into nine meaningful categories on megaproject management systems and the current requirements for improved industrial megaprojects.

The methodology employed in this paper retrieves relevant works from available online citation indexes that are published in peer-reviewed journals and other reliable sources from 2000 to 2021.

It has been observed that the literature on megaproject management is still premature and requires further research to understand better the main gaps and effects of large-scale and typically complex megaprojects. Significant improvements are needed towards covering gaps to address the project management system holistically over the entire project life cycle. There are no clear guidelines for achieving a complete and conclusive project management system and enhancing future megaprojects' management capabilities.

This paper provides a clear picture of the existing literature on megaproject management systems, contributing insights for successful megaproject projects. Additionally, the holistic analysis identifies gaps in the body of knowledge, revealing avenues for future research.