Value co-creation in the project management industry in South Africa: implementation examined

Moshidi, Mpelegeng Mologadi

Value co-creation in the project management industry in South Africa: implementation examined

Master Thesis

2021

Abstract

Value creation has emerged as an integral part of project management to necessitate customer satisfaction, profitability, and long-lasting value. Value creation in the context of construction is related to the benefits that can be realised after the project is completed. There is little information in the literature which articulates the impediments that hinder the adoption of value co-creation for the benefit of all stakeholders. The study is concerned about why value co-creation is not a common practice in the South African project management industry. The study adopted an explanatory research design based on qualitative approach to gather data using semi-structured interview from ten (10) participants selected using purposive sampling. The study was based on a single case study and interviews were audio recorded. Data was analysed using thematic analysis using manual method on Microsoft Word document. Findings identified that impediments that hinder value co-creation in project management include project scope changes, lack of performance standards and poor communication, stakeholder involvement, lack of knowledge and unrealistic expectations. The impact of ineffective management of value outcomes include bad company reputation and financial implications. Ways to manage impediments that hinder value co-creation in project management include risk assessment, setting realistic goals, value interaction, and accountability. Recommendations are made to the project managers, project clients, project stakeholders and future researchers in the field of Project Management.

Keywords

Project Management

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