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Introduction
The problem of resource allocation across a portfolio of projects in a dynamic environment where there is competition amongst other internal projects, has been acknowledged in the project management literature (Collyer and Warren, 2009). To minimize this problem, organizations attempt to manage the resource requirement according to the level of priority attached to the project (Engwall and Jerbrant, 2003). In managing resources, the organization must evaluate the value of a particular set of resource capabilities based on the market context within which a firm is operating.
Project management is a relatively young discipline in terms of our understanding through research; hence there are numerous potential methodologies that could be applied to improve the possibility of project success (Killen et al., 2012). Equally, the notion of project success is open to interpretation (Shenhar et al., 1997, 2000, 2001; Shenhar, 2001).
Alternatively, organizations could aim to enhance their autonomy in resource availability and ownership and maintain resources stability to reduce uncertainty (Davis and Cobb, 2010). Clearly, managing uncertainty is a key issue for project success (Rand, 2000). If the organization can effectively manage resource scarcity, availability and control, it reduces uncertainty in the dynamic environment. Vigilant management of resources can result in competitive advantages for projects; which allow organizations to create more value than rivals and achieve superior returns on investment in projects (Barney and Hesterly, 2008).
There is clear evidence that the poor success rate of projects is due in-part to poorly managed resources and recognition of constraints (Lim and Mohamed, 1999). There is a need for this combined theoretical framework to better plan and manage projects.
This paper explores the relationship between resource scarcity, resource dependency and the constraints that these phenomena place upon successful project outcomes. It progresses by first discussing theory of constraints (TOC), resource-based view (RBV), resources advantage theory (RAT), resource dependence theory (RDT) and conventional structured project management techniques. A conceptual framework of the combined theories is then described; that allows a number of propositions to be identified. Next, an integrated, unified framework is developed that allows exploratory testing against several project cases. Finally, conclusions, limitations and future research are identified.
Objectives of project management
A key role of the project leadership is managing the trade-off between scope,...