IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v15y2022i1p472-d1017101.html
   My bibliography  Save this article

Sustainable Development and Value Creation, an Approach from the Perspective of Project Management

Author

Listed:
  • Nelson Moreno-Monsalve

    (Faculty of Engineering, Universidad Ean, Bogotá 110221, Colombia)

  • Marcela Delgado-Ortiz

    (Faculty of Engineering, Universidad Ean, Bogotá 110221, Colombia)

  • Milton Rueda-Varón

    (Department of Basic Science, Universidad Ean, Bogotá 110221, Colombia)

  • William Stive Fajardo-Moreno

    (Department of Research and Transfer, Universidad Ean, Bogotá 110221, Colombia)

Abstract

The discipline of project management has been maturing over time, integrating positively with some organizational approaches, such as strategy and sustainable development, to meet current needs without risking future capabilities. In this sense, it is observed that measuring the success of a project only from the classic mechanistic perspective of the triple constraint: scope, time, and budget, is insufficient; this opens a space for a new variable of social progress: the creation of value. Thus, the objective of this study is to identify the degree of relationship between the success of the projects and the sustainable development approach, managing to determine through the results obtained some opportunities for improvement in light of the economic and organizational context. As a starting point for this research, a review of the literature associated with topics, such as sustainable development, value creation, and modern trends in project management, was carried out. The second step was to design and apply a structured survey to 148 Colombian companies that develop projects in different sectors, such as technology, infrastructure, and services. With the information collected, a structural equation modeling—SEM model was applied to determine the relationship between the selected variables. Finally, the results of this research showed that the success of a project that is carried out under a sustainable development approach has a positive tendency toward the creation of value. In conclusion, it is found that the four dimensions studied: impact, relevance, effectiveness, and efficiency, allow us to explain to a greater or lesser extent the success of the projects through their approach to sustainable development and value creation.

Suggested Citation

  • Nelson Moreno-Monsalve & Marcela Delgado-Ortiz & Milton Rueda-Varón & William Stive Fajardo-Moreno, 2022. "Sustainable Development and Value Creation, an Approach from the Perspective of Project Management," Sustainability, MDPI, vol. 15(1), pages 1-15, December.
    • Handle: RePEc:gam:jsusta:v:15:y:2022:i:1:p:472-:d:1017101
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/15/1/472/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/15/1/472/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Rubén Dario Acosta-Velásquez & Jeffrey León-Pulido & Alexander García-Pérez & William Stive Fajardo-Moreno & Leonardo Espinosa-Leal, 2022. "Contemporary Management Practice Applying the Dynamic Absorptive Capacity Measurement Model (PM 4 AC) for Improved Business Sustainability," Sustainability, MDPI, vol. 14(17), pages 1-12, September.
    2. Taozhi Zhuang & Queena K. Qian & Henk J. Visscher & Marja G. Elsinga, 2017. "Stakeholders’ Expectations in Urban Renewal Projects in China: A Key Step towards Sustainability," Sustainability, MDPI, vol. 9(9), pages 1-21, September.
    3. Evin Özkan & Neda Azizi & Omid Haass, 2021. "Leveraging Smart Contract in Project Procurement through DLT to Gain Sustainable Competitive Advantages," Sustainability, MDPI, vol. 13(23), pages 1-25, December.
    4. Liviu Moldovan, 2015. "Sustainability Assessment Framework for VET Organizations," Sustainability, MDPI, vol. 7(6), pages 1-19, June.
    5. Pitelis, Christos, 2009. "The co-evolution of organizational value capture, value creation and sustainable advantage," MPRA Paper 23937, University Library of Munich, Germany.
    6. Bergquist, Ann-Kristin & Lindmark, Magnus, 2016. "Sustainability and Shared Value in the Interwar Swedish Copper Industry," Business History Review, Cambridge University Press, vol. 90(2), pages 197-225, July.
    7. Flaviu Moldovan & Petruta Blaga & Liviu Moldovan & Tiberiu Bataga, 2022. "An Innovative Framework for Sustainable Development in Healthcare: The Human Rights Assessment," IJERPH, MDPI, vol. 19(4), pages 1-27, February.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Flaviu Moldovan & Liviu Moldovan & Tiberiu Bataga, 2023. "The Environmental Sustainability Assessment of an Orthopedics Emergency Hospital Supported by a New Innovative Framework," Sustainability, MDPI, vol. 15(18), pages 1-31, September.
    2. Aleknavičiūtė Rasa & Skvarciany Viktorija & Survilaitė Simona, 2016. "The Role of Human Capital for National Innovation Capability in Eu Countries," Economics and Culture, Sciendo, vol. 13(1), pages 114-125, June.
    3. Christos Pitelis, 2022. "Big tech and platform-enabled multinational corporate capital(ism): the socialisation of capital, and the private appropriation of social value," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 46(6), pages 1243-1268.
    4. Bergquist, Ann-Kristin & Cole, Shawn A. & Ehrenfeld, John & King, Andrew A. & Schendler, Auden, 2019. "Understanding and Overcoming Roadblocks to Environmental Sustainability: Past Roads and Future Prospects," Business History Review, Cambridge University Press, vol. 93(1), pages 127-148, April.
    5. Christos N. Pitelis, 2011. "Foreign Direct Investment and Economic Integration," Chapters, in: Miroslav N. Jovanović (ed.), International Handbook on the Economics of Integration, Volume III, chapter 1, Edward Elgar Publishing.
    6. Alla Mostepaniuk & Turgay Akalin & Mohammad Reza Parish, 2023. "Practices Pursuing the Sustainability of A Healthcare Organization: A Systematic Review," Sustainability, MDPI, vol. 15(3), pages 1-21, January.
    7. Simeng Li & Zhimin Liu & Chao Ye, 2022. "Community Renewal under Multi-Stakeholder Co-Governance: A Case Study of Shanghai’s Inner City," Sustainability, MDPI, vol. 14(9), pages 1-18, May.
    8. Lin, Sheng-Hau & Huang, Xianjin & Fu, Guole & Chen, Jia-Tsong & Zhao, Xiaofeng & Li, Jia-Hsuan & Tzeng, Gwo-Hshiung, 2021. "Evaluating the sustainability of urban renewal projects based on a model of hybrid multiple-attribute decision-making," Land Use Policy, Elsevier, vol. 108(C).
    9. Najda-Janoszka, Marta, 2017. "Industry Transition - Challenges for Value Capture," MPRA Paper 81919, University Library of Munich, Germany.
    10. Ritala, Paavo & Tidström, Annika, 2014. "Untangling the value-creation and value-appropriation elements of coopetition strategy: A longitudinal analysis on the firm and relational levels," Scandinavian Journal of Management, Elsevier, vol. 30(4), pages 498-515.
    11. Goumagias, Nikolaos & Fernandes, Kiran Jude & Nucciarelli, Alberto & Li, Feng, 2022. "How to overcome path dependency through resource reconfiguration," Journal of Business Research, Elsevier, vol. 145(C), pages 78-91.
    12. Christos Pitelis, 2013. "Towards a More ‘Ethically Correct’ Governance for Economic Sustainability," Journal of Business Ethics, Springer, vol. 118(3), pages 655-665, December.
    13. Pitelis, Christos & Kelmendi, Pellumb, 2009. "The political economy of European anti-trust and industrial policy," MPRA Paper 23941, University Library of Munich, Germany.
    14. Vrontis, Demetris & Basile, Gianpaolo & Simona Andreano, M. & Mazzitelli, Andrea & Papasolomou, Ioanna, 2020. "The profile of innovation driven Italian SMEs and the relationship between the firms’ networking abilities and dynamic capabilities," Journal of Business Research, Elsevier, vol. 114(C), pages 313-324.
    15. Tung-Shan Liao, 2017. "Interaction Model of Superior Performance Based on Technological Resources and Competitive Actions in the Nascent Cycle of the Tablet Industry," Business, Management and Economics Research, Academic Research Publishing Group, vol. 3(11), pages 218-231, 11-2017.
    16. Liu, Yihui & Wu, Aiqi & Song, Di, 2022. "Exploring the Impact of Cross-side Network Interaction on Digital Platforms on Internationalization of Manufacturing Firms," Journal of International Management, Elsevier, vol. 28(4).
    17. Christos N. Pitelis & Pellumb Kelmendi, 2011. "European Industrial Policy: Perspectives, Trends and a Sustainability-focused New Framework," Chapters, in: Miroslav N. Jovanović (ed.), International Handbook on the Economics of Integration, Volume II, chapter 2, Edward Elgar Publishing.
    18. Bing Xia & Jindong Wu & Jiaqi Wang & Yitao Fang & Haodi Shen & Jingli Shen, 2021. "Sustainable Renewal Methods of Urban Public Parking Spaces under the Scenario of Shared Autonomous Vehicles (SAV): A Review and a Proposal," Sustainability, MDPI, vol. 13(7), pages 1-21, March.
    19. Sadovska, V., 2018. "Sustainable value creation in the agricultural sector. A literature review," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 276984, International Association of Agricultural Economists.
    20. Robert van Kleeff & Jasmijn van Harten & Eva Knies & Paul Boselie, 2023. "‘Lean Dancing’: How Involvement in Continuous Improvement and Lean Techniques Relate to Hospital Performance and Workers’ Wellbeing through Autonomy," Sustainability, MDPI, vol. 15(6), pages 1-20, March.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:15:y:2022:i:1:p:472-:d:1017101. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.