Current project management strategies consider the various networks and methods by which knowledge and findings concerned with project-oriented development are distributed. The International Research Network for Organizing Projects is a primary example with conferences regarding research theory and its implementation towards business and project management (Fursin, 2021). The network represents multiple fields of research and inquiry and illustrates the cross-disciplinary nature of project management investigation, which usually contrasts the research with psychology, business administration, pedagogy, and organizational theory.
The research method of project management is grounded in empirical data, quantitative findings, and scientific understanding of the theory. When analyzing multiple business models and theoretical systems, Larry Laudan was able to assess the research theory technique through the Scientific Research Tradition, or ScRT (Sierotowicz and Sierotowicz, 2018). Laudan confirmed that the research and project management sciences fit within the scope of the ScRT due to its implementation of abduction as a method for data interpretation and deduction. This investigation illustrated the benefits of research theory for project management teams, as the theory provides a deeper understanding of a business, a market, or an entire system.
Research theory becomes even more vital when used within a collaborative setting. Cooperative research project management in the modern world transcends industries, regions, and many other factors that would usually stand as an obstacle. Not only does this format of research benefit the project directly, but it also contributes to scholarly competence, knowledge evolution, research datasets, trends, and techniques. A majority of such research methodology is due to economic demand and the growth of an individual’s ability to manage resources and tools directly (Choudhury and Uddin, 2018). Additionally, it has increased regional and international research trends, a primary example of which is the abundance of metadata that can be seen in research publications. With further sophistication of technology, research theory for project management will have the opportunity to offer a wealth of information, methods, and equipment to develop projects in the most efficient manner.
Evaluation theory is a more recent concept with roots in the social sciences. It is primarily practice-oriented, but the deeper assessment of the theory has led to the formation of frameworks and evidence-based systems that can be implemented in project management processes (Sabarre, 2021). The theory’s principal focus is to find and promote feasible practices in which evaluators will be able to utilize knowledge gathering and create programs, project plans, and other tools that will assist in the development of a project. As such, evaluation theory relies on four vital and advantageous factors, which are practice, knowledge, value identification, and implementation.
Evaluation theory is able to improve the development of a project by focusing on explorative arguments for or against certain methods, expansion of knowledge in relation to the work, and normative arguments that focus on the advancement of already implemented models (Laursen et al., 2017). Since the evaluation theory suggests a performance-based approach, there are multiple ways to implement it within project management in measurable manners. These methods can include adding and monitoring strategic non-financial performance, improvement of external and internal communication, and the measuring of ethical, economic, and social concerns surrounding the project. The evaluation theory is incredibly important as a company may lose substantial capital due to mismanagement or failure of a project (Briones Aquino, 2020). To avoid fundamental or even minor errors within a project’s development, it is essential to recognize and evaluate all the accessible strategies, tools, and available information.
Reference List
Briones Aquino, N. (2020). Performance Evaluation Criteria for Project Managers. PhD Thesis. Walden University. Web.
Choudhury, N. and Uddin, S. (2018). ‘Knowledge Evolution and Scholarly Quantification of Collaborative Research in Project Management’, The Journal of Modern Project Management, 6(2). Web.
Fursin, G. (2021). ‘Collective knowledge: organizing research projects as a database of reusable components and portable workflows with common interfaces’, Philosophical Transactions of the Royal Society A, 379(2197). Web.
Laursen, M., Svejvig, P. and Le Gerstrøm Rode, An. (2017). Proceedings of the 24th Nordic Academy of Management Conference, Bodø, Norway, 23 -25 August.
Sabarre, N. (2021). Bridging the Gap: Evaluation Theory and Practice. Web.
Sierotowicz, T. and Sierotowicz, T. (2018). ‘Scientific Foundation of Business Models Theory: Research Traditions Approach’, Axiomathes, 28, pp. 233-245. Web.