Balancing Projects with Society and the Environment: A Project, Programme and Portfolio Approach

Hope, Alex; Moehler, Robert

doi:10.1016/j.sbspro.2014.03.041

Cited by 26 publications

(28 citation statements)

References 23 publications

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“…Finally, several project management professional bodies have sought to articulate sustainability in their Bodies of Knowledge (BoKs), with the APM suggesting that "sustainability describes an environmental, social and economically integrated approach to development that meets present needs without compromising the environment for future generations" (APM, 2012, p. 230). However, like the WECD definition of sustainability, these definitions do not articulate the tools and processes required to incorporate sustainability principles into the products and services produced, and also in the processes and practices of managing projects, programs and portfolios (Hope and Moehler, 2014).…”

Section: Project Management and Sustainability Definitionsmentioning

confidence: 99%

“…The development of sustainable project management is a response to the realization that many of the current project management frameworks do not effectively address the three dimensions of sustainable development, i.e., social equity, economic efficiency and environmental performance (Hope and Moehler, 2014;Silvius and Schipper, 2014;Otegi Olaso et al,2015;Aarseth et al,2017). Despite these challenges it has become clear that the project management community is keen to incorporate sustainable practice, such as global environmental issues.…”

Section: Introductionmentioning

confidence: 99%

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Sustainable Project Management: Revolution or Evolution?

Moehler

Hope²,

Algeo

2018

Proceedings

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The integration of sustainability into business practices and organizational strategy requires a rethink as to the way in which operations are managed. As managing projects increasingly play an integral role in business and society, the question is whether current project management definitions, methods, processes, practices and knowledge areas are fitfor-purpose in delivering sustainable outcomes. This paper will examine the impact of sustainability on the methods, processes, practices and knowledge areas used to manage projects. A comparison of evidence from the literature will identify the leavers that shape the current agenda and can assist in the development of a deeper understanding of the challenges faced by the discipline to move towards 'sustainable project management'. This agenda will identify key areas of focus for academics and practitioners before evaluating whether an evolution of project management towards sustainable project management is possible, or if a more revolutionary approach is required.

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Section: Project Management and Sustainability Definitionsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Sustainable Project Management: Revolution or Evolution?

Moehler

Hope²,

Algeo

2018

Proceedings

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“…Considering that one third of the world gross domestic product is generated by projects [1,2], it is very important to integrate sustainability considerations into projects. And project management could make a valuable contribution in this context [3,4]. Today it is increasingly well understood that methods, tools and techniques need to be developed to integrate sustainability criteria into the management of projects [5,6]; moreover, there is a growing need of knowledge and concepts how to incorporate sustainability into the project management process [6][7][8][9][10][11][12].…”

Section: Introductionmentioning

confidence: 99%

“…However, the issue of the integration of sustainability considerations into project management has not been explored sufficiently [2][3][4][5][13][14][15][16]. The existing project management standards do not give adequate attention to sustainability issues or fail to provide project managers with the necessary tools to integrate sustainability into project management and operation [4,7,17,18].…”

Section: Introductionmentioning

confidence: 99%

“…The existing project management standards do not give adequate attention to sustainability issues or fail to provide project managers with the necessary tools to integrate sustainability into project management and operation [4,7,17,18]. Most works The review of the latest academic literature shows that considerable attention is further focused on sustainability in project portfolio management.…”

Section: Introductionmentioning

confidence: 99%

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Sustainability-Oriented Financial Resource Allocation in a Project Portfolio through Multi-Criteria Decision-Making

Dobrovolskienė

Tamošiūnienė

2016

Sustainability

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Abstract:Modern portfolio theory attempts to maximize the expected return of a portfolio for a given level of portfolio risk, or equivalently minimize risk for a given level of expected return. The reality, however, shows that, when selecting projects to a portfolio and allocating resources in the portfolio, an increasing number of organizations take into account other aspects as well. As a result of the sole purpose (risk-return), it offers only a partial solution for a sustainable organization. Existing project portfolio selection and resource allocation methods and models do not consider sustainability. Therefore, the aim of this article is to develop a sustainability-oriented model of financial resource allocation in a project portfolio by integrating a composite sustainability index of a project into Markowitz's classical risk-return scheme (mean-variance model). The model was developed by applying multi-criteria decision-making methods. The practicability of the model was tested by an empirical study in a selected construction company. The proposed sustainability-oriented financial resource allocation model could be used in allocating financial resources in any type of business. The use of the model would not only help organisations to manage risk and achieve higher return but would also allow carrying out sustainable projects, thereby promoting greater environmental responsibility and giving more consideration to the wellbeing of future generations. Moreover, the model allows quantifying the impact of the integration of sustainability into financial resource allocation on the return of a portfolio.

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