Value Driven Project Management
Toivola, Tommi (2011)
Toivola, Tommi
2011
Kuvaus
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Tiivistelmä
Traditionally project management success criteria have been based on the evaluation of time, cost, quality, scope, and resources. According to literature, these elements form the foundation for project management. Today, business environment is changing very rapidly and companies are forced to respond new challenges which sometimes require very creative solutions. Recently, value driven project management which expands the traditional project success criteria to consider internal, customer, future, and customer values has aroused growing attention in project management literature.
This study will explore this new trend from the benefits management perspective by testing this model into case company’s project management practices. The research questions of this study have two main objectives. The first objective is to investigate how value is created throughout project lifecycle and what type of measurement methods support the value creation. The second objective is to find out how roles and responsibilities have been divided within a project in relation to value creation.
To complete this research, the intensive case study was conducted on one Finnish MNC. The focus group interview was carried out in the case company to answer the research questions. Interviewees were all from the case company. In addition, an extra evaluation meeting was arranged after the actual interview, were managers and experts within and outside the case company gave their feedback of the study.
The main empirical findings revealed the case company’s need for modern project management practices: Value mindset was lacking from company’s current project management although the company has recognized the development need to improve their practices. The company admitted that they are not currently managing effectively project benefits. Another major finding of this study was good applicability of the proposed theoretical framework to company’s current project management practices, and positive attitude from the company towards this study.
This study will explore this new trend from the benefits management perspective by testing this model into case company’s project management practices. The research questions of this study have two main objectives. The first objective is to investigate how value is created throughout project lifecycle and what type of measurement methods support the value creation. The second objective is to find out how roles and responsibilities have been divided within a project in relation to value creation.
To complete this research, the intensive case study was conducted on one Finnish MNC. The focus group interview was carried out in the case company to answer the research questions. Interviewees were all from the case company. In addition, an extra evaluation meeting was arranged after the actual interview, were managers and experts within and outside the case company gave their feedback of the study.
The main empirical findings revealed the case company’s need for modern project management practices: Value mindset was lacking from company’s current project management although the company has recognized the development need to improve their practices. The company admitted that they are not currently managing effectively project benefits. Another major finding of this study was good applicability of the proposed theoretical framework to company’s current project management practices, and positive attitude from the company towards this study.