F1 Published independent work of art
Connecting project portfolios with their context
Authors: Martinsuo M, Geraldi J
Publication year: 2019
Web address : https://researchportal.tuni.fi/en/publications/19b43d2d-acb8-4d1c-9238-6480e6cad354
Abstract
Organisations create and manage project portfolios to implement and renew their strategies. With the dominant contingency theory view, studies have primarily focused on intra-organisational issues whilst acknowledging that different practices are needed in different environments. A strategic view of managing project portfolios, however, requires adopting a stronger external orientation. We call for research on the management of project portfolios. We investigate the relationship between project portfolios and their context, based on four theoretical alternatives: institutional theory, stakeholder theory, resource dependence theory, and sensemaking theory. The results offer explanations to the mechanisms connecting project portfolios with their context, hence calling for a reformulation of portfolio success and a new research agenda for portfolios{\textquoteright} external connections. We also indicate a potential cross-fertilisation of the theoretical angles, with implications for the enactment of strategy, criteria of success, complex stakeholder relations, and ways of managing a project portfolio.
Organisations create and manage project portfolios to implement and renew their strategies. With the dominant contingency theory view, studies have primarily focused on intra-organisational issues whilst acknowledging that different practices are needed in different environments. A strategic view of managing project portfolios, however, requires adopting a stronger external orientation. We call for research on the management of project portfolios. We investigate the relationship between project portfolios and their context, based on four theoretical alternatives: institutional theory, stakeholder theory, resource dependence theory, and sensemaking theory. The results offer explanations to the mechanisms connecting project portfolios with their context, hence calling for a reformulation of portfolio success and a new research agenda for portfolios{\textquoteright} external connections. We also indicate a potential cross-fertilisation of the theoretical angles, with implications for the enactment of strategy, criteria of success, complex stakeholder relations, and ways of managing a project portfolio.
UTU Research Portal