Does the deployment of project management itself provide benefits? Both tangible and intangible

In the project management literature, it has been argued that value encompasses more than the iron triangle especially as value means different things to different stakeholders along the continuum from project lifecycle to product lifecycle. However, examination of the extant literature on project management suggests that when value is discussed, it is usually considered in terms of the benefits of the project outcome. More recently, the additional value derived from deploying project management (management of projects) methodology itself has been recognised. By identifying the benefits from project management deployment and applying an intangibility test, intangible benefits were identified to be types of Organisational, Human and Social capital. The value derived from project management deployment itself can therefore be subdivided into tangible and intangible benefits; where the intangible benefit contributes to organisational competitiveness and human intellectual capital. The authors have also found that whilst organisations have an understanding of the tangible value of managing work by projects, there is a lack of recognition of the intangible value derived from undertaking the project management process itself.