Value Management for Exploration Projects

Rémi Maniak (), Christophe Midler, Sylvain Lenfle and Marie Le Pellec-Dairon
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Rémi Maniak: CRG - Centre de recherche en gestion - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - CNRS - Centre National de la Recherche Scientifique, SES - Département Sciences Economiques et Sociales - Télécom Paris - IMT - Institut Mines-Télécom [Paris] - IP Paris - Institut Polytechnique de Paris
Christophe Midler: CRG - Centre de recherche en gestion - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - CNRS - Centre National de la Recherche Scientifique
Sylvain Lenfle: THEMA - Théorie économique, modélisation et applications - UCP - Université de Cergy Pontoise - Université Paris-Seine - CNRS - Centre National de la Recherche Scientifique, CRG - Centre de recherche en gestion - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - CNRS - Centre National de la Recherche Scientifique
Marie Le Pellec-Dairon: CRG - Centre de recherche en gestion - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - CNRS - Centre National de la Recherche Scientifique

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Abstract: Whereas exploration projects stand as important drivers in renewing the assets of the firm and creating new business opportunities, it is well recognized that project evaluation and value management methodologies are likely to kill them. This paper provides elements to solving this paradox. We rely on a longitudinal study of three exploration projects and the projects conducted afterward in the automotive and space industries. The analysis suggests that the value creation process can be regarded and managed as a dual process of potential value creation and value realization. This paper discusses the linkages with existing practices and theories.

Keywords: Project management; exploration projects; project evaluation; innovation; capability building; multi-project management; real-option (search for similar items in EconPapers)
Date: 2014-07-16
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Citations: View citations in EconPapers (3)

Published in Project Management Journal, 2014, Special Issue: International Research Network on Organizing by Projects (IRNOP) 45 (4), pp.55 - 66. ⟨10.1002/pmj.21436⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01500294

DOI: 10.1002/pmj.21436

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