The Project-Based Firm: A Theoretical Framework for Building Dynamic Capabilities

Víctor Hermano and Natalia Martín-Cruz
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Víctor Hermano: Department of Business Organization and Marketing and Market Research, University of Valladolid, Avda Valle Esgueva 6, 47011 Valladolid, Spain
Natalia Martín-Cruz: Department of Business Organization and Marketing and Market Research, University of Valladolid, Avda Valle Esgueva 6, 47011 Valladolid, Spain

Sustainability, 2020, vol. 12, issue 16, 1-14

Abstract: The problem of achieving individual project performance has been replaced by the problem of achieving organizational goals through project performance. Only project-based firms able to learn and build project capabilities can successfully compete in today’s dynamic environments. The purpose of this paper is to present a dynamic capability-based framework that sheds light on how project and organizational dynamic capabilities are built and how these dynamic capabilities allow project-based firms to perform in dynamic environments. Our theoretical framework unpacks the processes of building dynamic capabilities inside a project-based firm, discussing the routines and procedures that are useful to manage projects in unstable and dynamic environments and to build and reconfigure organizational capabilities from project-led knowledge.

Keywords: routines; organizational performance; project knowledge; portfolio management (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2020
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