Moderated effect of value co-creation on project performance
International Journal of Managing Projects in Business
ISSN: 1753-8378
Article publication date: 16 April 2018
Issue publication date: 15 August 2018
Abstract
Purpose
Value co-creation amongst project stakeholders is often necessary for situations where the expertises or resources required are beyond a single stakeholder. Certain project delivery models (PDMs) with strong emphasis on relationships and trust are especially suited to value co-creation approach by encouraging collaborations amongst stakeholders and innovations. However, anecdotal evidence suggests that value co-creation impacts positively on particular types of projects but not on others. The purpose of this paper is to investigate the effect of value co-creation on project performance (PP) and how the effect is moderated by requirements uncertainty (RU).
Design/methodology/approach
Based on the data from a cross-sectional survey of 120 Chilean construction project managers, the study validated a conceptual framework on the moderated effects of value co-creation process.
Findings
Value co-creation process underpinned through relational engagement, collaboration and innovativeness positively impacts on PP, and project’s RU moderates this relationship.
Practical implications
The findings empirically show that collaborative PDMs are best suited to projects where requirements are uncertain. Identifying the most suitable delivery model for a given context can reduce the project’s risk of failure and help maximise project value. When RU is low, the co-creating value is less critical to PP; whereas, when RU is high, choosing a collaborative PDM is fundamental to superior PP.
Originality/value
This study provides much-needed evidence on the effects of value co-creation process on PP. Additionally, it contributes to the literature by conceptualising and validating the moderated impact on PP by RU.
Keywords
Acknowledgements
This paper was originally presented as a conference paper in Australian and New Zealand Academy of Management (ANZAM) Conference 2016 and invited to be submitted as a special version of International Journal of Managing Projects in Business (IJMPiB).
The authors thank Comisión Nacional de Investigación Científica y Tecnológica (Conicyt) and the Universidad Católica del Norte in Chile for providing funding to support this study. Also, special gratitude is also extended to PMI® Antofagasta Chile Potential Chapter members who participated completing the survey and sharing their experience in managing projects.
Citation
Heredia Rojas, B., Liu, L. and Lu, D. (2018), "Moderated effect of value co-creation on project performance", International Journal of Managing Projects in Business, Vol. 11 No. 4, pp. 854-872. https://doi.org/10.1108/IJMPB-03-2017-0033
Publisher
:Emerald Publishing Limited
Copyright © 2018, Emerald Publishing Limited