Lifecycle-oriented framing of value at the front end of infrastructure projects

Abstract

Purpose Infrastructure projects are expected to deliver value to their stakeholders long after completion. Project value is multi-dimensional and subjective and evolves over the project lifecycle. How stakeholders frame the expected value is central to the public debate about proposed infrastructure projects and influences the financing decisions; however, this framing is inadequately understood. This study develops new knowledge for shaping infrastructure projects by identifying the ways in which stakeholders frame project value at the project front end.<br/><br/>Design/methodology/approach Three transport infrastructure projects are compared in a qualitative, document-based study. We map their dimensions of value at the project front end and identify stakeholders’ approaches to lifecycle-oriented framing of value.<br/><br/>Findings Financial, social and comparative value are dominant in the project front end. We frame value into positive and negative dimensions and identify four themes in the lifecycle-oriented framing of value, including uncertainties, timing of cost and benefit realization, project relations, and external sponsorship. <br/><br/>Research limitations/implications The research is limited through the focus on transport infrastructure projects and project front end only, the selection of cases from a single country, and the use of document-based data. The systematic analysis approach has yielded novel analytical frameworks that will be useful for further research.<br/><br/>Practical implications This study identifies value dimensions that are specific to transport infrastructure projects and proposes a framework to assist stakeholders and project managers to better assess and negotiate value when designing their projects.<br/><br/>Originality/value Regional and comparative value are revealed as novel aspects of value specific to infrastructure projects. The alternative lifecycle-oriented frames offer a new way to understand and structure the co-creation of value and shape negotiation for investment decisions in the project. A portfolio perspective to investment decision making is proposed. <br/>