Application of Resource-based View to Project Management Research: Supporters and Opponents

Abstract

The Resource-based View (RBV) of the firm is a strategic management theory that is widely used by managers in project management. The RBV has to date been a promising theory that examines how resources can drive competitive advantage, especially project management (PM) capabilities that have been customized to a specific organizational environment and developed over time. However, Despite the advantages offered by the RBV to practitioners and scholars alike, the theory has been under attack by opponents claiming that there is an overenthusiasm for what the theory can deliver, especially concerning a lack of criteria for generalizability and definitional ailments. This position paper will give an overview of the supporters and opponents of the application of the RBV in PM practice and research. The position of the authors of this paper, which is in favour of the continued application of the theory to PM contexts, will be detailed and supported by conceptual and empirical findings from the literature. This paper will end with future research recommendations that will highlight research that can be done to curb criticisms of the theory and enhance and rejuvenate its use in practice.