Rethinking project management goals and methods to suit service systems

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Conference Proceeding
Proceedings of the 56th Annual Meeting of the ISSS, 2012, 56th pp. 1 - 14
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Industrial economies of the past are now moving towards becoming service-intensive, creative and knowledge-based economies that incorporate human creativity and social capital as the basis of value creation and productivity improvements. Moreover, they are radically transforming the manner in which they design, deliver and operate, thereby creating new services and market opportunities. Further, the fact that services are varied, have unique attributes such as intangibility, heterogeneity, perishability, and inseparability (simultaneous consumption and delivery) with the customer as a provider of input, make them complex in nature and difficult to understand and analyse. This has inspired a flurry of activity in government, industry and universities. There is now a growing recognition of the need for transdisciplinary research and new business models to propel innovation in services, commonly referred to as Services Science an interdisciplinary cross-functional stream that brings together engineering, social sciences and management. In addition, business success is becoming less associated with tangible outcomes, embedded value and physical transactions, but more reliant on intangible resources, relationships, networks and co-creation of value. In the unfolding global economy, supply chains and value networks play a crucial role, and service organisations have to find innovative ways for attaining sustainable competitive advantage. Beyond this direct economic contribution, service industries have an ongoing role to deliver considerable indirect embodied value to goods production.
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