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This chapter explains the concept of risk management in construction in relation to project success. The types of risks were examined based on the date of identification which are known risk, unknown risk, new or discovered risk, secondary risk and residual risk. Project risk is not an all-encompassing negative event as it could also cause a positive impact on construction projects. It was acknowledged that project risk in itself could have a positive impact if its risk management process is properly implemented by the construction project team.

The purpose of this study is to investigate on what is value and value creation in Public–private partnerships (PPPs)? How coordination and trust among project partners is created in PPPs? In which way coordination and trust among project partners are related to organizational governance and success? How risk management is related to the success or failure of PPP project implementation? How organizational attributes can influence the PPP project implementation?

This study was conducted using qualitative research method. In all, 3 Indian PPPs were selected in the first phase, and then, 26 respondents were randomly chosen from the selected PPPs. One-to-one personal discussion was conducted with each respondents using predetermined set of questions. The responses were transcribed, and similar ideas were clustered together across the thematic research questions and themes. Subsequently, interlinking of themes and ideas was done through inductive reasoning and represented in the form of a causal relationship.

The study found that the importance of trust and confidence among project partners; organizational attributes (system, structure and style, process) of partner organizations; and the risk reduction and control in the PPP project company have influenced the relationship dynamics among project partners.

This study encourages future researchers to empirically test the possibility of existence of mediating and moderating effects in the link between value creation and contract management in PPPs. A structural framework was derived, which is expected to provide momentum for theoretical exploration and empirical verification.

The purpose of this paper is to describe how the concepts of business models and project governance can enhance value creation in building projects.

Based on theory derived from management literature, the authors outline a framework combining a project’s business case and governance functions with the business model of the design team. This was tested in two major projects and evaluated in three expert workshops.

The research reveals that the business model of the design team focus on efficiency rather than on the client’s strategic objectives. This entails a need for project governance functions. The framework presented shows promising capability of aligning the project with client strategy. The authors believe there is significant value in transferring these ideas and knowledge across national boundaries.

The research identifies a gap between business objectives and outcome. The value creation approach in the client organisation diminishes into the way project governance is implemented in some projects. The conceptual framework provides the industry with a new tool for improving its knowledge and practice.

First governance model derived from strategy theory that combines strategy and governance in one holistic model.

Sustainability-oriented projects are prevalent on crowdfunding platforms nowadays. The relationship between crowdfunding and sustainability has attracted the attention of many scholars. This study aims to examine the effects of perceived sustainability orientation on value-co-creation behavior from the perspective of backers and explore the mediation effects of three psychological factors: perceived affective reaction, perceived self-effectiveness and perceived risk.

The study recruits 455 backers to evaluate 100 projects on a crowdfunding platform. Structural equation modeling based on partial least squares is used to analyze data and test the hypotheses.

The results show that perceived sustainability orientation influences value-co-creation behavior through perceived affective reaction and self-effectiveness. Furthermore, perceived sustainability orientation impacts participation behavior through perceived risk.

Our study mainly focuses on sustainability-oriented and reward-based crowdfunding projects. Future research can examine other types of projects and other crowdfunding platforms.

These findings can provide implications for project creators to improve the values co-created with backers in future sustainability-oriented projects. Furthermore, the findings can provide implications for backers and help them evaluate crowdfunding projects.

The existing studies are mostly concerned with project creators’ perspectives. This paper is one of the few to investigate how a project’s sustainability orientation influences backers’ psychological factors and value-co-creation behavior.

The purpose of this paper is to investigate the factors that determine two forms of crowdfunding campaign success: success in securing the necessary financial resources and personal success in terms of the entrepreneur’s satisfaction. Specifically, it studies factors linked to the relationship between entrepreneurs and funders (co-creation and feedback) and factors linked to the campaign’s content (dimensions of corporate social responsibility (CSR)).

An empirical study of 52 crowdfunding entrepreneurs was conducted. Data were gathered using a structured questionnaire. Fuzzy-set qualitative comparative analysis was performed.

For financial and personal success, all factors, except the social dimension of CSR, are necessary conditions. Two configurations are sufficient for entrepreneurs to achieve financial success. The first configuration that is sufficient for personal success is the same as the first configuration for financial success. The second configuration for personal success is similar to the second configuration for financial success, except that it also includes financial success itself.

Entrepreneurs should invest in CSR and seek to improve the quality of their relationships with their funders. Crowdfunding platforms should design and manage co-creation and feedback tools that are capable of providing deep knowledge of users’ opinions and concerns whilst generating value. The limitations of this study are that only the reward-based crowdfunding model was considered, and the data covered just two platforms.

This study contributes to the literature by presenting empirical analysis of the factors that influence financial success and personal success in reward-based crowdfunding. It examines aspects that strictly refer to the content of the project and aspects that refer to the entrepreneur–funder relationship. Specifically, the roles of the four dimensions of CSR were considered. Moreover, the fsQCA method provides a fresh approach to research in this area.

Customer co‐creation is becoming increasingly popular among companies, and intensive communication with customers is generally seen as a determinant of the success of a new service or product. The purpose of this study is to analyze customer co‐creation based on four dimensions of communication – frequency, direction, modality, and content – in order to understand the value of customer co‐creation in service innovation. One of the key aims of the study is to investigate whether all dimensions of customer co‐creation have an effect on product and market success, and if the effect depends on the degree of innovativeness of a development project.

The authors conducted a study including 334 managers with experience in new service and product development to examine how development projects applied customer co‐creation in terms of communication in order to address future customer needs. Data were analyzed using partial least squares (PLS). The first analysis was performed with a sub‐sample of 207 development projects regarding incremental innovations. A subsequent analysis was performed with a sub‐sample of 77 development projects on radical innovations.

A total of three of the four dimensions of customer co‐creation (frequency, direction, and content) have a positive and equally significant effect on product success when developing incremental innovations. For radical innovations, frequency has a positive effect and content has a negative significant effect on product success. These findings suggest that co‐creation and innovation can be combined, but that the choice of methods for co‐creation differs depending on whether incremental or radical innovations are developed.

Despite a general consensus that co‐creation with customers is beneficial, there is a lack of agreement regarding how and why. The present article addresses this shortcoming and shows that co‐creation is largely about communicating with customers in order to understand their future needs. On the other hand, a company working on radical innovations may wish to limit customer input that is too concrete or solution based.

Taking a co-creation perspective and integrating knowledge-based and resource-based perspectives, the authors examine the role of customer participation in organizational performance and project success. The authors also investigate the mediating role of knowledge integration and the moderating role of requirement risk for these relationships in uncertain contexts.

The authors undertook two studies. The first study was carried out in 2018 in which the authors drew on survey data from 150 information technology (IT) sector employees and examined the mediating role of knowledge integration in the relationship of customer participation with organizational performance and project success. In the second study undertaken in 2020, the authors drew on data from 92 IT and telecom sector employees and examined the moderating role of requirement risk in the relationship between customer participation and knowledge integration. Study 2 was conducted during the COVID-19 pandemic when employees were largely working from home and were more sensitive to risks and uncertainty about the scope and system requirements. Both studies were survey-based, and analysis was carried out using structural equation modeling.

The authors’ two-study examination indicated that knowledge integration positively mediates the relationship of customer participation with organizational performance and project success during the co-creation process. Furthermore, the authors demonstrate that when requirement risks are high, customer participation relationship with knowledge integration is weaker.

The authors show that integrating customer knowledge is critical to project success and organizational performance. By identifying risk uncertainties and environmental contingencies, the authors highlight the constraints of customer participation for knowledge integration, organizational performance and project success. The authors provide some key study findings based on survey data obtained from project teams during two periods (normal and pandemic).

Adopting a qualitative research design and following a single case study research methodology 21 semi-structured interviews with asset integrity project managers (PM), project sponsors (PS) and members of the project management office (PMO) were conducted. These were complemented with company’s project management framework documents and tools and direct observation by the researcher’s observation.

The data on the value creation in the mining asset integrity and improvement project portfolio was collected through 21 interviews with PM, PS and members of the PMO and complemented by observational data and the analysis of the Australian mining company process documentation.

The study finds that establishing a culture of delivering value supported by functional governance is critical for effective value creation practice in asset integrity and improvement project portfolios. In addition, early engagement of the key stakeholders with clearly defined roles and utilisation of project value management artifacts, enables effective value delivery throughout the project lifecycle.

The research offers an empirically grounded framework to facilitate value creation throughout the project lifecycle in asset integrity and improvement project portfolios drawing on a benchmarking case of an Australian mining company.

The new age of entrepreneurs recognizes crowdfunding as an innovative and effective means of obtaining funding from backers. However, attracting backers is challenging and related scholarly knowledge lacking. Therefore, this study investigates the diverse factors influencing backer funding intention in reward-based crowdfunding.

This study conducted an online survey of 401 registered backers from two reward-based crowdfunding platforms in Taiwan. Data were analyzed using covariance-based structural equation modeling.

Results show that entrepreneur activeness has a negative effect on perceived risk but positively, while entrepreneur activeness and platform interactivity have a positive effect on backer engagement and backer value creation. Although it had no significant impact on backer engagement, project novelty positively influenced backer value creation. Perceived risk had no influence on either backer engagement or backer value creation. Backer engagement positively influenced backer value creation and backer funding intention, with the former having a positive impact on the latter.

This study provides a multi-perceptual lens by proposing an integration of diverse factors such as entrepreneurial- (entrepreneur activeness), project- (project novelty and perceived risk) and platform-related characteristics (platform interactivity) as antecedents to backer funding intention. By integrating a service-dominant logic perspective into the stimulus-organism-response model, this study highlights the essence of value creation by perceiving backers as value co-creators.