University of Oulu

Farzad Pargar, Jaakko Kujala, Kirsi Aaltonen, Sampsa Ruutu, Value creation dynamics in a project alliance, International Journal of Project Management, Volume 37, Issue 5, 2019, Pages 716-730, ISSN 0263-7863, https://doi.org/10.1016/j.ijproman.2018.12.006

Value creation dynamics in a project alliance

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Author: Pargar, Farzad1; Kujala, Jaakko1; Aaltonen, Kirsi1;
Organizations: 1Industrial Engineering and Management, Faculty of Technology, University of Oulu, Oulu, Finland
2VTT Technical Research Centre of Finland, Finland
Format: article
Version: accepted version
Access: embargoed
Persistent link: http://urn.fi/urn:nbn:fi-fe2019081324084
Language: English
Published: Elsevier, 2019
Publish Date: 2022-01-16
Description:

Abstract

Project alliance requires all parties to work together in good faith, share project risks, and make unanimous decisions for the betterment of the project. A key feature of successful implementation of a project alliance is a focus on value creation and value for money. This paper proposes a qualitative system dynamics model to specify and explain dynamics of value creation processes in the context of project alliance. By synthesizing the existing literature and reports on project alliancing, this paper identifies four processes that have a strong influence on the value created in the project alliance context: work progression, rework, redesign and innovation, and rescheduling. In addition, we show how these value creation processes are interrelated and evolve over time. The effectiveness of these processes is influenced by the capability and motivation of the project alliance partners to discover works that do not fully utilize the available resources, and make quick decisions to capture these benefits.

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Series: International journal of project management
ISSN: 0263-7863
ISSN-E: 1873-4634
ISSN-L: 0263-7863
Volume: 37
Issue: 5
Pages: 716 - 730
DOI: 10.1016/j.ijproman.2018.12.006
OADOI: https://oadoi.org/10.1016/j.ijproman.2018.12.006
Type of Publication: A1 Journal article – refereed
Field of Science: 222 Other engineering and technologies
Subjects:
Copyright information: © 2019 Elsevier Ltd, APM and IPMA. All rights reserved.