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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
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    References listed on IDEAS

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    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.
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    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.
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