Flexibility in Engineering Projects: Blessing or Curse?
نویسنده
چکیده
This paper gives an overview of research on project flexibility in engineering projects. Project flexibility is viewed from different perspectives. Firstly, the concept of flexibility in projects is discussed. Secondly, the cases against and in favour of flexibility are presented. Finally, a short overview is made to identify under which circumstances and during which part of a project that flexibility proves most useful and most damaging. The paper suggests that project owners are more likely to be in favour of flexibility than contractors. Viewed in a time perspective, flexibility in the front-end phase could help to increase the probability of success, while flexibility in the execution phase is claimed to reduce efficiency of projects. Furthermore, industrial development projects are more likely to benefit from flexibility than civil engineering projects are. Related to the degree of uncertainty, flexibility is claimed to be desirable in high uncertainty environments and less important in situations with low uncertainty. Flexibility is discussed as a double-edged sword. Flexibility for one stakeholder is often viewed as another's risk. The case in favour of flexibility emphasise the possibility to increase a project’s effectiveness while the case against flexibility highlights that it might reduce efficiency. Project flexibility can be used to increase the project owner’s value of a project. The major drawbacks lie in the negative effects of changes on the project organizations and a possible frustration regarding lack of decisions and commitment.
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