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Disclosing the Tacit Links between Risk and Success in Organizational Development Project Portfolios

Author

Listed:
  • Camilo Micán

    (School of Industrial Engineering, Universidad del Valle, Cali 760034, Colombia)

  • Gabriela Fernandes

    (CEMMPRE, Department of Mechanical Engineering, University of Coimbra, 3030-788 Coimbra, Portugal)

  • Madalena Araújo

    (ALGORITMI, Department of Production and Systems, University of Minho, 4800-058 Guimarães, Portugal)

Abstract

Project portfolios aim to impact organizational strategic goals, influencing both the organization’s business model and its processes. Nonetheless, the actual impact is dependent on the portfolio’s success, which is affected by the materialization of risk factors. This study aims to examine the tacit conceptualization of project portfolio risk as a risk measure explicitly based on project portfolio success itself. In order to focus on the portfolios of organizational development projects, Social Representation Theory was adopted to analyze empirical evidence from twenty-eight semi-structured interviews conducted with project portfolio practitioners. Findings showed that strategic fit, future preparedness, and stakeholder satisfaction were dimensions of success within which project portfolio risk could be conceptualized. Additionally, results evidenced that risk factors influenced project portfolio success through systematic and non-systematic impacts on project portfolio outputs, and also had direct impacts on project portfolio outcomes. This paper provides empirical evidence to back up the conceptualization of project portfolio risk explicitly oriented to portfolio success as a multidimensional risk measure. It represents a new avenue for conducting portfolio risk analysis for both practitioners and academics, orienting the decision-making process based on the portfolio success rather than only on the success of each project.

Suggested Citation

  • Camilo Micán & Gabriela Fernandes & Madalena Araújo, 2022. "Disclosing the Tacit Links between Risk and Success in Organizational Development Project Portfolios," Sustainability, MDPI, vol. 14(9), pages 1-19, April.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:9:p:5235-:d:802642
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    References listed on IDEAS

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    1. Foroogh Ghasemi & Mohammad Hossein Mahmoudi Sari & Vahidreza Yousefi & Reza Falsafi & Jolanta Tamošaitienė, 2018. "Project Portfolio Risk Identification and Analysis, Considering Project Risk Interactions and Using Bayesian Networks," Sustainability, MDPI, vol. 10(5), pages 1-23, May.
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    3. Yang, Qing & Zou, Xingqi & Ye, Yunting & Yao, Tao, 2022. "Evaluating the criticality of the product development project portfolio network from the perspective of risk propagation," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 593(C).
    4. Jolanta Tamošaitienė & Vahidreza Yousefi & Hamed Tabasi, 2021. "Project Portfolio Construction Using Extreme Value Theory," Sustainability, MDPI, vol. 13(2), pages 1-13, January.
    5. Kock, Alexander & Schulz, Babette & Kopmann, Julian & Gemünden, Hans Georg, 2020. "Project Portfolio Management Information Systems' Positive Influence on Performance - The Importance of Process Maturity," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 124842, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    6. Teller, Juliane & Kock, Alexander, 2013. "An Empirical Investigation on How Portfolio Risk Management Influences Project Portfolio Success," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 63248, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
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