Journal
INTERNATIONAL JOURNAL OF PROJECT MANAGEMENT
Volume 40, Issue 7, Pages 750-762Publisher
ELSEVIER SCI LTD
DOI: 10.1016/j.ijproman.2022.08.003
Keywords
Agency theory; Collaborative project delivery model; Integrated project delivery; Principal -agent; Stewardship theory; Tools
Categories
Funding
- Research Council of Norway [273700]
- Sorlandets kompetansefond
Ask authors/readers for more resources
This study aims to explore the impact of organizational tools and methods on the relationship between principal and agent, and the importance of overcoming the principal-agent problem. The empirical analysis supports the significance of the alignment of organizational tools and methods for the success of CPDM and deepens the theoretical understanding of CPDM delivery.
Despite the focus on collaborative project delivery models (CPDMs) in the construction industry, it remains unclear how it promises bases for delivering better value for money than many traditional models. In view of the importance of knowledge about CPDM delivery, this study aims to explore governance mechanisms that un-derline the relationship between principal and agent and how this relationship is impacted by the alignment of organisational tools and methods. We argue that there is an interrelationship between agency theory and stewardship theory that provides an important theoretical foundation for CPDMs; additionally, alignment of organisational tools and methods can contribute to overcoming the principal-agent problem in projects if aligned with the functions in CDPMs. An empirical analysis of an exploratory case study supports these assumptions and highlights how CPDM's success can occur through removing and reducing the fundamental principal-agent problem and illustrates the performance and dangers of CPDM tools. Our findings deepen the theoretical un-derstanding of CPDM delivery and provide new insights into the strategic fit in CPDMs alignment in projects.
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available