Results from Project Eve
The Planning, Monitoring and Control (PMC) SIG will present the results of research, sponsored by APM through their 2014 research fund into the affect that principal agent theory has on project success. The research question that we asked was
“Does Principal Agent Theory provide an explanation for different levels of project success?”
The team looked a three of the problems associated with Principal Agent Theory in outsourced projects i.e. conflict over goals, opportunistic behaviour and asymmetry of information. Data was collected from four projects:
- clinical research x2
- construction x2
The presentation will cover:
- how success was defined
- the methodology and results of the research
- the answer to the above question
- and how this information can be used in a practical way to improve the success rate of projects
The idea of a project health check based on the how well principle agency theory is dealt with will be considered in addition to further ideas on how this line of research could be extended.
Roger Joby
Pharmaceuticals Professional and consultant
Committee members of PMC SIG has:
- Managed multinational clinical trials.
- Developed and implemented project management tool in a less than sophisticated project management environment.
- Undertaken academic research into the use of project management.
- Managed project management departments.
- Managed bid and contracts departments.
- Run my own training and Consultancy Company for the last 14 years.
Planning Monitoring and Control SIG [PMC] was formed in 2012. Its founder members came from the former Planning and Earned Value SIGs both of which closed in 2012. The generic area of operation is project control, focusing on the techniques and processes listed as well as interfaces to other subject areas e.g. risk, governance, programme and portfolio management.
Beyond the toolset there is an interest in the behavioural aspects of management and how this affects implementation and leadership within these areas.