IDEAS home Printed from https://ideas.repec.org/a/taf/tjorxx/v71y2020i9p1426-1436.html
   My bibliography  Save this article

Project portfolio implementation under uncertainty and interdependencies: A simulation study of behavioural responses

Author

Listed:
  • Lin Wang
  • Martin Kunc
  • Jianping Li

Abstract

Even though systems thinking has been highlighted in portfolio management theory, independent project control logic still dominates its implementation process. This paper constructs a system dynamics model for portfolio monitoring and control. Considering the on-going portfolio as a complex social system, the impacts of project interdependencies (PIs) on portfolio decision-making are investigated under a behavioural paradigm. Our findings indicate the remedial actions, affected by behavioural factors like planning fallacy and “Pet project” effects, may generate escalation of commitment under specific levels of uncertainty and interdependencies. Thus, portfolio coordination decisions should be made from a strategic perspective with the consideration of complexities embedded in the system and behavioural responses from portfolio managers.

Suggested Citation

  • Lin Wang & Martin Kunc & Jianping Li, 2020. "Project portfolio implementation under uncertainty and interdependencies: A simulation study of behavioural responses," Journal of the Operational Research Society, Taylor & Francis Journals, vol. 71(9), pages 1426-1436, September.
    • Handle: RePEc:taf:tjorxx:v:71:y:2020:i:9:p:1426-1436
    DOI: 10.1080/01605682.2019.1609890
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/01605682.2019.1609890
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/01605682.2019.1609890?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    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:taf:tjorxx:v:71:y:2020:i:9:p:1426-1436. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/tjor .

    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.