Finance

Accounting

Business

Agency (philosophy)

Epistemology

Engineering

Philosophy

Project management

Systems engineering

Project management triangle

Process management

Portfolio

Project charter

Project portfolio management

Cost accounting

Cost engineering

International Journal of Project Management

The cost of public construction projects is a central topic in project management. However, studies have primarily focused on cost at the project level, not on cost management at the portfolio level. In this paper, we take the perspective of a government agency, conducting a strategic initiative to increase cost-efficiency in their portfolio of construction projects. We use an action research approach to investigate the dynamics of the initiative and the implementation of resulting actions to achieve lasting change towards cost-efficiency. Co-creating actions for cost-efficiency together with the project teams was important for the success of the strategic initiative. For successful implementation, alignment of the objectives of the initiative with organizational strategy, and knowledge transfer between projects is central. This study expands the project management literature regarding strategic cost management of portfolios of construction projects and provides practical guidance for organizations.

Strategic change towards cost-efficient public construction projects