Bai, L; Qu, X; Liu, J and Han, X (2023) Analysis of factors influencing project portfolio benefits with synergy considerations. Engineering, Construction and Architectural Management, 30(7), pp. 2691-2715. ISSN 0969-9988
Abstract
Purpose: Realizing project portfolio benefits (PPBs) is considered a key challenge faced by enterprises. This challenge can largely be attributed to an unclear understanding of the factors influencing PPBs. However, synergistic relationships create complexity for the management of influencing factors. In response to this dilemma, the objective of this study is to quantitatively investigate the factors influencing PPBs while considering the synergistic effect among factors to provide guidelines for benefits management. Design/methodology/approach: Through an integration of the synergy degree of the composite system model and social network analysis (SNA), a refined model is proposed to explore the factors influencing PPBs. First, a list that includes financial and nonfinancial influencing factors is clarified. Then, the corresponding network links, which represent the synergistic relationships among the factors, are innovatively assessed based on the synergy degree of the composite system. Finally, the influencing factor network is analyzed using both individual and overall indicators of SNA. Findings: The resulting evidence demonstrates that four critical influencing factors exist, namely, “project managers,” “purchasers,” “development capacity” and “tangible resources.” These factors are relatively important and should be prioritized. Furthermore, the factors are divided into three subgroups: participant, resource and governmental factors. A general observation from the results is that factors that share the same subgroup are more likely to have a synergistic effect advantage, which leads to an increase in PPBs. Originality/value: The value of this paper lies in its proposition of a quantitative model that can be used to measure and analyze the factors influencing PPBs with synergy considerations. This research contributes to the body of knowledge on benefits management by linking synergy with PPBs. It presents new insights for managers on how PPBs may be effectively managed and promoted from the perspective of influencing factors.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | influencing factors; project portfolio benefits; social network analysis; synergy degree |
| Index terms: | composite, project manager, influencing factor, purchaser, subgroup, synergy, manager, social network analysis, evidence, integration, methodology, complexity, body of knowledge |
| Subjects: | knowledge management, materials science, practitioner, profession, risk assessment, evaluation and assessment methods, systems engineering, organizational analysis, partnership management, sociology, research management, research methods |
| Topics: | Organizational Design, Risk Management, Stakeholder Management, Roles and Professions, Engineering Principles, Information Management, Construction Materials, Research Practice |
| Descriptive scope: | 4 PCTA |
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