Impact of methodologies and standards on the owner's economic benefit in projects

Abstract

Many researchers address the benefits of using methodologies, standards, but they rarely go beyond the direct effects, and get to the ownership. The owner is one of the key participants in project management. This research aims to explore a possible association between the methodologies, standards applied in organizations, and owner's value. The data set serves as a base of the statistical analysis, where the respondents are employees working in a project management environment. The complex analysis of this study justified a significant relationship between standards and methodologies, and the creation of owner's value. Therefore, this finding could be employed to assess the chances of creating owner's value, e.g., in rapid evaluation methods in project management. Such a justified relationship can be used not only in project management.

Keywords

• Owner's benefit
• Methodologies
• Standards
• Rapid assessment
• Project management