Towards a more dynamic understanding of project value: The perspective of governance boards

Duration: May 2026 – April 2027

The understanding of project success has shifted towards the value a project creates. Major infrastructure projects serve as vehicles of change to create value for the project owner, internal and external stakeholders, and society at large. However, major infrastructure projects have prolonged durations and governance boards must make decisions based on future promises that the project will deliver value and positive impacts. Over time, and especially when facing disruptive events, these promises become moving targets requiring a more dynamic and adaptive understanding of value. This study will investigate how governance boards make decisions to ensure that a project delivers value despite disruptions. We will investigate decision making processes within governance boards overseeing major infrastructure projects in the UK, Sweden, Canada and Austria.

• Sorin Piperca, Associate Professor, Birkbeck, University of London, UK
• Martina Huemann, Professor, UCL and WU Vienna
• Nathalie Drouin, Professor, UQAM
• Ossi Pesämaa, Associate Professor, Luleå University of Technology