Flexibility challenges in the project-based industry: towards a 'balloon organisation'
by Maqsood Sandhu, Petri Helo
International Journal of Services and Operations Management (IJSOM), Vol. 4, No. 4, 2008

Abstract: Project-based organisations are often faced with the challenge of having many projects at certain times and very few at other times. In terms of resource management, flexibility is a key issue. The requirement for flexibility can be compared to a balloon – that is, an organisation needs to be able to expand and contract according to the types and sizes of its projects at any given time. A review of flexibility and project management literature was undertaken and a case study was developed to describe the managerial aspects of resource management in project business. This paper discusses the concept of 'balloon organisations' in project management and explores how firms can incorporate operational flexibility into project management. The paper suggests applying flexibility measures and real option type of valuation for required flexibility.

Online publication date: Fri, 07-Mar-2008

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