F1 Published independent work of art
Lifecycle-oriented framing of value at the front end of infrastructure projects
Authors: Martinsuo M, Vuorinen L, Killen C, Laiti M
Publisher: European Academy of Management, EURAM
Publication year: 2018
Book title : Proceedings of EURAM18 European Academy of Management conference 2018
Series title: EURAM conference
ISBN: 978-2-9602195-0-0
Web address : https://researchportal.tuni.fi/en/publications/e8919f1f-7f4c-4755-a23d-402597d838a4
Abstract
Infrastructure projects are expected to deliver value to their stakeholders long after their completion. Project value is multi-dimensional and subjective and evolves over the project lifecycle. The framing of the expected value by stakeholders is central to the public debate about proposed infrastructure projects and influences the financing decisions, however this framing is inadequately understood. The objective is to develop new knowledge on the ways in which stakeholders frame project lifecycle value at the front end of infrastructure projects. We compare two transport infrastructure projects in a qualitative, document-based study, map their dimensions of value at the project front end, and identify their approaches to lifecycle-oriented framing of value. The results reveal the dominance of financial, social and comparative value in the project front end, and identify four core themes in the lifecycle-oriented framing of value, including uncertainties, timing of cost and benefit realization, project relations, and external sponsorship.
Infrastructure projects are expected to deliver value to their stakeholders long after their completion. Project value is multi-dimensional and subjective and evolves over the project lifecycle. The framing of the expected value by stakeholders is central to the public debate about proposed infrastructure projects and influences the financing decisions, however this framing is inadequately understood. The objective is to develop new knowledge on the ways in which stakeholders frame project lifecycle value at the front end of infrastructure projects. We compare two transport infrastructure projects in a qualitative, document-based study, map their dimensions of value at the project front end, and identify their approaches to lifecycle-oriented framing of value. The results reveal the dominance of financial, social and comparative value in the project front end, and identify four core themes in the lifecycle-oriented framing of value, including uncertainties, timing of cost and benefit realization, project relations, and external sponsorship.
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