Improving the decision-making process between owner and contractors for projects with alternative technologies

01 October 2021 → 30 September 2024
Research Foundation - Flanders (FWO)
Research disciplines
  • Social sciences
    • Project management
Project Management Contracting Optimisation
Project description

A project is a temporary endeavour that requires resources to complete a set of activities in order to obtain a specific goal. Typically, the successful completion of a project requires the interaction between two project parties: a project owner and multiple contractors. While the owner will supervise the project management process, the contractors will be responsible for executing the project. Due to an increased uncertainty and complexity in the project environment (e.g. projectisation and alternative technologies), selecting promising projects and assigning good contractors is crucial to maximise the likelihood of project success. The aim of this research proposal is to improve the decision-making process between a single owner and multiple contractors. Therefore, different strategies for the owner and contractors during project negotiations, contracting and project control will be evaluated and optimised. The project management process is modelled from the owner’s perspective, but the interactions with the contractors are considered in the different project phases, to align the objectives of both project parties. Different optimisation techniques will be combined in the methodology to build upon the existing state-of-the-art methods in the field of game theory, contracting and incentivised project control. Finally, a well-balanced mix of artificial and empirical data will be used to test and validate the different methods in a controlled and realistic environment.