Analysis of factors influencing project portfolio benefits with synergy considerations
Engineering, Construction and Architectural Management
ISSN: 0969-9988
Article publication date: 14 April 2022
Issue publication date: 15 August 2023
Abstract
Purpose
Realizing project portfolio benefits (PPBs) is considered a key challenge faced by enterprises. This challenge can largely be attributed to an unclear understanding of the factors influencing PPBs. However, synergistic relationships create complexity for the management of influencing factors. In response to this dilemma, the objective of this study is to quantitatively investigate the factors influencing PPBs while considering the synergistic effect among factors to provide guidelines for benefits management.
Design/methodology/approach
Through an integration of the synergy degree of the composite system model and social network analysis (SNA), a refined model is proposed to explore the factors influencing PPBs. First, a list that includes financial and nonfinancial influencing factors is clarified. Then, the corresponding network links, which represent the synergistic relationships among the factors, are innovatively assessed based on the synergy degree of the composite system. Finally, the influencing factor network is analyzed using both individual and overall indicators of SNA.
Findings
The resulting evidence demonstrates that four critical influencing factors exist, namely, “project managers,” “purchasers,” “development capacity” and “tangible resources.” These factors are relatively important and should be prioritized. Furthermore, the factors are divided into three subgroups: participant, resource and governmental factors. A general observation from the results is that factors that share the same subgroup are more likely to have a synergistic effect advantage, which leads to an increase in PPBs.
Originality/value
The value of this paper lies in its proposition of a quantitative model that can be used to measure and analyze the factors influencing PPBs with synergy considerations. This research contributes to the body of knowledge on benefits management by linking synergy with PPBs. It presents new insights for managers on how PPBs may be effectively managed and promoted from the perspective of influencing factors.
Keywords
Acknowledgements
Funding: The study was funded by the National Natural Science Foundation of China [72002018; 72171025], Youth Innovation Team of Shaanxi Universities [21JP009], Innovation Capacity Support Plan of Shaanxi Province [2020KJXX-054], Soft Science projects of Shaanxi Province [2022KRM012] and Fundamental Research Funds for the Central Universities [300102232601; 300102230613; 300102231639].
Citation
Bai, L., Qu, X., Liu, J. and Han, X. (2023), "Analysis of factors influencing project portfolio benefits with synergy considerations", Engineering, Construction and Architectural Management, Vol. 30 No. 7, pp. 2691-2715. https://doi.org/10.1108/ECAM-11-2021-0986
Publisher
:Emerald Publishing Limited
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