Through an empirical study of two inter-organizational project networks in a cultural setting, this article explores how value is created in project networks. The article discusses recent theoretical developments that suggest linking value constellations and project networks. The findings focus on how value is created; this is done through identifying four key value creation activities: developing infrastructure, creating knowledge, changing minds, and managing for value capture. In light of this, two value constellations are suggested, and the service-dominant logic is applied for developing a conceptual model of value creation in project networks, including theoretical and practical implications.
AlleeV. (2000). The value evolution: Addressing larger implications of an intellectual capital and intangibles perspective. Journal of Intellectual Capital, 1(1), 17–32.
2.
ArttoK.AholaT., & VartiainenV. (2016). From the front end of projects to the back end of operations: Managing projects for value creation throughout the system lifecycle. International Journal of Project Management, 34(2), 258–270.
BarneyJ. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99–120.
5.
BeningtonJ. (2011). From private choice to public value. In BeningtonJ., & MooreM. H. (Eds.), Public value: Theory and practice (pp. 31–49). New York, NY: Palgrave Macmillan.
6.
BorgattiS. P., & HalginD. S. (2011). On network theory. Organization Science, 22(5), 1168–1181.
7.
BowmanC., & AmbrosiniV. (2000). Value creation versus value capture: Towards a coherent definition of value in strategy. British Journal of Management, 11(1), 1–15.
8.
BradleyG. (2010). Benefit realisation management: A practical guide to achieving benefits through change (2nd ed.). Farnham, UK: Gower.
9.
BrassD. J.GalaskiewiczJ.GreveH. R., & TsaiW. (2004). Taking stock of networks and organizations: A multilevel perspective. Academy of Management Journal, 47(6), 795–817.
10.
BrufordW. H. (1975). The German tradition of self-cultivation: Bildung from Humboldt to Thomas Mann.Cambridge, UK: Cambridge University Press.
ColeM., & ParstonG. (2006). Unlocking public value: A new model for achieving high performance in public service organizations.Hoboken, NJ: John Wiley & Sons.
13.
DaviesA., & MackenzieI. (2014). Project complexity and systems integration: Constructing the London 2012 Olympics and Paralympics Games. International Journal of Project Management, 32(5), 773–790.
DegnH.-P., & HansenL. E. (2015). The development of a formative, partnership-based evaluation. Paper presented at the Nordic Conference on Cultural Policy Research, Bø., Norway.
16.
EisenhardtK. M., & GraebnerM. E. (2007). Theory building from cases: Opportunities and challenges. Academy of Management Journal, 50(1), 25–32.
17.
EngwallM. (2003). No project is an island: Linking projects to history and context. Research Policy, 32(5), 789–808.
18.
European Standard 12973-2000. (2000). Value management.
19.
European Union. (2015). European capitals of culture—30 years.Luxembourg: Publications Office of the European Union.
20.
FlickU. (1992). Triangulation revisited: Strategy of validation or alternative?Journal for the Theory of Social Behaviour, 22(2), 175–197.
21.
FlickU. (2009). An introduction to qualitative research.London, England: Sage Publications.
22.
FuentesM., & SmythH. (2016). Value co-creation in a project setting: A service-dominant logic perspective. Paper presented at the Annual ARCOM Conference, Manchester, UK.
23.
GeraldiJ., & SöderlundJ. (2016). Project studies and engaged scholarship: Directions towards contextualized and reflexive research on projects. International Journal of Managing Projects in Business, 9(4), 767–797.
24.
GrabherG., & ThielJ. (2015). Projects, people, professions: Trajectories of learning through a mega-event (the London 2012 case). Geoforum, 65, 328–337.
25.
GranovetterM. S. (1973). The strength of weak ties. American Journal of Sociology, 1360–1380.
26.
GrönroosC. (2011). Value co-creation in service logic: A critical analysis. Marketing Theory, 11(3), 279–301.
27.
GrönroosC., & VoimaP. (2013). Critical service logic: Making sense of value creation and co-creation. Journal of the Academy of Marketing Science, 41(2), 133–150.
28.
HansenL. E., & LaursenM. (2015). From applicant to designated European capital of culture. International Journal of Managing Projects in Business, 8(4), 715–731.
29.
HelgessonC.-F., & MuniesaF. (2013). For what it's worth: An introduction to valuation studies. Valuation Studies, 1(1), 1–10.
30.
HellgrenB., & StjernbergT. (1995). Design and implementation in major investments—A project network approach. Scandinavian Journal of Management, 11(4), 377–394.
31.
HuemannM., & WinklerG. (1998). Project management-benchmarking: An instrument of learning. In LundinR. A., & MidlerC. (Eds.), Projects as arenas for renewal and learning processes (pp. 71–78). Norwell, MA: Kluwer Academic Publishers.
32.
KoontzL.HoagD., & DeLongD. (2013). Disparate stakeholder management: The case of elk and bison feeding in Southern Greater Yellowstone. Society & Natural Resources, 26(3), 339–355.
33.
KreinerK. (1995). In search of relevance: Project management in drifting environments. Scandinavian Journal of Management, 11(4), 335–346.
34.
KvaleS., & BrinkmannS. (2009). Interviews: Learning the craft of qualitative research interviewing: London, England: Sage Publications.
35.
LaursenM., & SvejvigP. (2016). Taking stock of project value creation: A structured literature review with future directions for research and practice. International Journal of Project Management, 34(4), 736–747.
36.
LencioniP. M. (2002). Make your values mean something. Harvard Business Review, 80(7), 113–117.
37.
LepakD. P.SmithK. G., & TaylorS. M. (2007). Value creation and value capture: A multilevel perspective. Academy of Management Review, 32(1), 180–194.
38.
LoveP. E. D.MatthewsJ.SimpsonI.HillA., & OlatunjiO. A. (2014). A benefits realization management building information modeling framework for asset owners. Automation in Construction, 37, 1–10.
39.
LuschR. F., & VargoS. L. (2014). Service-dominant logic: Premises, perspectives, possibilities.Cambridge, UK: Cambridge University Press.
40.
MartinsuoM., & KillenC. P. (2014). Value management in project portfolios: Identifying and assessing strategic value. Project Management Journal, 45(5), 56–70.
MatinheikkiJ.ArttoK.PeltokorpiA., & RajalaR. (2016). Managing inter-organizational networks for value creation in the front-end of projects. International Journal of Project Management, 34(7), 1226–1241.
NgI. C. L., & SmithL. A. (2012). An integrative framework of value. In VargoS. L., & LuschR. F. (Eds.), Special issue— Toward a better understanding of the role of value in markets and marketing (Review of Marketing Research) (Vol. 9, pp. 207–243). Bingley, UK: Emerald Group Publishing Limited.
48.
NonakaI. (1994). A dynamic theory of organizational knowledge creation. Organization Science, 5(1), 14–37.
49.
NormannR. (2001). Reframing business: When the map changes the landscape.Chichester, UK: Wiley.
50.
NormannR., & RamirezR. (1993). From value chain to value constellation: Designing interactive strategy. Harvard Business Review, 71(4), 65–77.
51.
NormannR., & RamirezR. (1998). Designing interactive strategy: From value chain to value constellation.London, England: Wiley.
52.
NäsholmM. H., & BlomquistT. (2015). Co-creation as a strategy for program management. International Journal of Managing Projects in Business, 8(1), 58–73.
53.
OudenE. D. (2012). Innovation design: Creating value for people, organizations and society.London, England: Springer-Verlag London.
54.
PangM.-S.LeeG., & DeLoneW. H. (2014). IT resources, organizational capabilities, and value creation in public-sector organizations: A public-value management perspective. Journal of Information Technology, 29(3), 187–205.
55.
PorterM. E. (1985). Competitive advantage: Creating and sustaining superior performance.New York, NY: The Free Press.
56.
PrahaladC. K., & RamaswamyV. (2004). The future of competition: Co-creating unique value with customers.Boston, MA: Harvard Business School Press.
57.
ProvanK. G., & KenisP. (2008). Modes of network governance: Structure, management, and effectiveness. Journal of Public Administration Research and Theory, 18(2), 229–252.
58.
RamírezR., & WallinJ. (2000). Prime movers: Define your business or have someone define it against you.Chichester, UK: John Wiley.
59.
RazmdoostK., & SmythH. (2015). Value co-creation in project exchange. Paper presented at the 18th Academy of Marketing Science World Marketing Congress, Bari, Italy.
60.
SchryenG. (2013). Revisiting IS business value research: What we already know, what we still need to know, and how we can get there. European Journal of Information Systems, 22(2), 139–169.
61.
SmythH.LecoeuvreL., & VaeskenP. (2017). Co-creation of value and the project context: Towards application on the case of Hinkley Point C Nuclear Power Station. International Journal of Project Management, 36(1), 170–183.
62.
StabellC. B., & FjeldstadØ. D. (1998). Configuring value for competitive advantage: On chains, shops, and networks. Strategic Management Journal, 19(5), 413–437.
63.
StakeR. E. (1995). The art of case study research.Thousand Oaks, CA: Sage Publications.
64.
SvejvigP., & AndersenP. (2015). Rethinking project management: A structured literature review with a critical look at the brave new world. International Journal of Project Management, 33(2), 278–290.
65.
SvejvigP., & GrexS. (2016). The Danish agenda for rethinking project management. International Journal of Managing Projects in Business, 9(4), 822–844.
66.
van de VenA. H. (2007). Engaged scholarship: A guide for organizational and social research.Oxford, UK: Oxford University Press.
67.
VargoS. L., & ClavierP. (2015). Conceptual framework for a service-ecosystems approach to project management. Paper presented at the 2015 48th Hawaii International Conference on System Sciences (HICSS), Kauai, Hawaii.
68.
VargoS. L., & LuschR. F. (2004). Evolving to a new dominant logic for marketing. Journal of Marketing, 68(1), 1–17.
69.
VargoS. L., & LuschR. F. (2008). Service-dominant logic: Continuing the evolution. Journal of the Academy of Marketing Science, 36(1), 1–10.
70.
VargoS. L., & LuschR. F. (2014). The nature and understanding of value: A service-dominant logic perspective. In VargoS. L., & LuschR. F. (Eds.), Special issue—Toward a better understanding of the role of value in markets and marketing (Vol. 9, pp. 1–12). Bingley, UK: Emerald Publishing Group Limited.
71.
VatinF. (2013). Valuation as evaluating and valorizing. Valuation Studies, 1(1), 31–50.
72.
WardJ., & DanielE. (2012). Benefits management: How to increase the business value of your IT projects.West Sussex, UK: Wiley.
73.
WernerfeltB. (1984). A resource-based view of the firm. Strategic Management Journal, 5(2), 171–180.
74.
WinterM.AndersenE. S.ElvinR., & LeveneR. (2006). Focusing on business projects as an area for future research: An exploratory discussion of four different perspectives. International Journal of Project Management, 24(8), 699–709.
75.
WinterM.SmithC.MorrisP., & CicmilS. (2006). Directions for future research in project management: The main findings of a UK government-funded research network. International Journal of Project Management, 24(8), 638–649.
76.
WinterM., & SzczepanekT. (2008). Projects and programmes as value creation processes: A new perspective and some practical implications. International Journal of Project Management, 26(1), 95–103.
77.
ZwikaelO., & SmyrkJ. (2012). A general framework for gauging the performance of initiatives to enhance organizational value. British Journal of Management, 23, S6–S22.
