Increasing project benefits by project opportunity exploitation

Eskerod, P; Ang, K; Andersen, ES

Increasing project benefits by project opportunity exploitation

Eskerod, P Ang, K

Andersen, ES

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Publication Type:: Journal Article
Citation:: International Journal of Managing Projects in Business, 2018, 11 (1), pp. 35 - 52
Issue Date:: 2018-01-01

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Field	Value	Language
dc.contributor.author	Eskerod, P	en_US
dc.contributor.author	Ang, K https://orcid.org/0000-0001-5202-0036	en_US
dc.contributor.author	Andersen, ES	en_US
dc.date.issued	2018-01-01	en_US
dc.identifier.citation	International Journal of Managing Projects in Business, 2018, 11 (1), pp. 35 - 52	en_US
dc.identifier.issn	1753-8378	en_US
dc.identifier.uri	http://hdl.handle.net/10453/132048
dc.description.abstract	© 2018, Emerald Publishing Limited. Purpose: Exploitation of project opportunities may bring more benefits than stipulated in the initial business case, and even stakeholder benefits that nobody thought of at the project initiation. The purpose of this paper is to suggest a new research area for megaprojects, i.e. the phenomenon of project opportunity exploitation as a means to increase the project benefits. Design/methodology/approach: This is a single case study of an infrastructure megaproject, i.e. the construction and operation of a 50+ years old American bridge. Data cover information regarding 60+ years old historical documents, newspaper articles, interviews and video-recordings. Findings: The findings of this paper are as follows: exploiting all opportunities created by the project and increasing project benefits require involvement from many categories of stakeholders; stakeholders get more involved in exploiting the opportunities created by the project when they are proud of the project; for some of the project-related opportunities, it might take a long time before they can be exploited (and related benefits achieved); and celebrating achievements of the project stimulate stakeholders to exploit opportunities created by the project and contribute to further project benefits. Research limitations/implications: Only few interviews were conducted. Interviewees were biased as all were very proud of the bridge. This is a single case study of a “rare species”, not representing most megaprojects. Practical implications: To enhance project opportunity exploitation and increased benefits, the project owner (team) must continuously communicate about the project, also after project execution. Originality/value: This study contributes to a gap within the literature on the phenomenon “project opportunity exploitation”. This is a very rich case study and of a “rare species”.	en_US
dc.relation.ispartof	International Journal of Managing Projects in Business	en_US
dc.relation.isbasedon	10.1108/IJMPB-07-2017-0089	en_US
dc.title	Increasing project benefits by project opportunity exploitation	en_US
dc.type	Journal Article
utslib.citation.volume	1	en_US
utslib.citation.volume	11	en_US
utslib.for	1503 Business and Management	en_US
utslib.for	12 Built Environment and Design	en_US
utslib.for	15 Commerce, Management, Tourism and Services	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building/School of Built Environment
utslib.copyright.status	closed_access
pubs.issue	1	en_US
pubs.publication-status	Published	en_US
pubs.volume	11	en_US

Abstract:

© 2018, Emerald Publishing Limited. Purpose: Exploitation of project opportunities may bring more benefits than stipulated in the initial business case, and even stakeholder benefits that nobody thought of at the project initiation. The purpose of this paper is to suggest a new research area for megaprojects, i.e. the phenomenon of project opportunity exploitation as a means to increase the project benefits. Design/methodology/approach: This is a single case study of an infrastructure megaproject, i.e. the construction and operation of a 50+ years old American bridge. Data cover information regarding 60+ years old historical documents, newspaper articles, interviews and video-recordings. Findings: The findings of this paper are as follows: exploiting all opportunities created by the project and increasing project benefits require involvement from many categories of stakeholders; stakeholders get more involved in exploiting the opportunities created by the project when they are proud of the project; for some of the project-related opportunities, it might take a long time before they can be exploited (and related benefits achieved); and celebrating achievements of the project stimulate stakeholders to exploit opportunities created by the project and contribute to further project benefits. Research limitations/implications: Only few interviews were conducted. Interviewees were biased as all were very proud of the bridge. This is a single case study of a “rare species”, not representing most megaprojects. Practical implications: To enhance project opportunity exploitation and increased benefits, the project owner (team) must continuously communicate about the project, also after project execution. Originality/value: This study contributes to a gap within the literature on the phenomenon “project opportunity exploitation”. This is a very rich case study and of a “rare species”.

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http://hdl.handle.net/10453/132048