A General Framework for Gauging the Performance of Initiatives to Enhance Organizational Value

摘要: The project management literature argues that most projects fail, and yet, paradoxically, increasing numbers of proposals for new initiatives attract funds. In order to resolve an apparent ‘investment-in-failure’ paradox, this paper questions the methodology used in judge performance decide on funding projects. Using results from a field study, authors describe framework both expands extends traditional approaches. They argue conventional test is not only fundamentally flawed, but also irrelevant decision-makers. response, drawing ‘principal–agent’, ‘regret’ ‘contingency’ theories, propose assess based concept ‘worth’. According approach, judged at three separate levels: management, ownership investment. These tests allow distinct judgements be made about respective performances manager, owner investment represented by original decision. To extent financial crises are associated with failure, such may prove useful, because it would support better decision-making.