Revisiting the Principal–Agent Framework in the Context of Projects: Drawing Parallels with Corporate Governance

IF 5.1 2区管理学 Q1 MANAGEMENT

Project Management Journal Pub Date : 2024-08-10 DOI:10.1177/87569728241270572

Ata ul Musawir

引用次数: 0

Abstract

This article examines the principal–agent framework in the context of projects and contrasts it with its corporate governance roots. Drawing on the theory of the firm as a nexus of contracts, it conceptualizes organizations and projects as nexuses of multilevel, intra- and interorganizational, principal–principal, and principal–agent relationships. Subsequently, the characteristics of the nexus of relationships in corporations are contrasted with those in three project archetypes, and the implications for project governance are discussed. This article highlights that the principal–agent framework offers fertile avenues for further research and advocates for a concerted effort to indigenize the framework to the project context.

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在项目背景下重新审视委托代理框架：与公司治理的相似之处

本文研究了项目背景下的委托代理框架，并将其与公司治理的根源进行了对比。文章借鉴公司作为契约关系纽带的理论，将组织和项目概念化为多层次、组织内和组织间、委托人与委托人、委托人与代理人关系的纽带。随后，对比了企业中的关系纽带与三种项目原型中的关系纽带的特点，并讨论了其对项目治理的影响。本文强调，委托代理框架为进一步研究提供了肥沃的途径，并主张共同努力将该框架本土化，使其适用于项目环境。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Project Management Journal MANAGEMENT-

CiteScore

9.30

自引率

14.00%

发文量

期刊介绍： Project Management Journal (PMJ) is the academic and research journal of the Project Management Institute and features state-of-the-art research, techniques, theories, and applications in project management. Projects represent a growing population of human activity in large, small, private, and public organizations. Projects are used to execute and sustain today's organizational activities. They play a fundamental role as the engine of tomorrow's innovation, value creation, and strategic change. However, projects often fail to deliver their promise. PMJ addresses these multiple challenges and opportunities by encouraging the development and application of novel theories, concepts, frameworks, research methods, and designs. PMJ embraces contributions both from within and beyond project management to augment and transform theory and practice.