Abstract for: A system dynamics perspective of project strategy

In their work (S.Singh, 2024) presents a stakeholder view of project strategy extending the work of (Artto, 2008). Essentially a very different perspective from the view of strategy found in business strategy literature or project strategy as presented by Mintzberg or the project success factors measured on basis of schedule, cost and quality.In this paper we illustrate the system dynamics models used to illustrate this stakeholder view of project strategy. A system dynamics model is developed to assess the impact of project strategies in a complex project. Three models are developed and built on to an integrated system dynamics model. The first is a project execution system dynamics mode, the second is a cashflow model and third a project strategy system dynamics model. The results show that project strategy is impacted significantly by human factors and stakeholder influence. It presents a method for practitioners to handle complexity in projects. Our model adds to the theory of stakeholder by introducing a new kind of stakeholder Competent stakeholder. This is a stakeholder at the boundary of Expectant Stakeholder and Definitive Stakeholder, i.e who posses two of the 3 dimensions of Urgency, Legitimacy and Power. We model this as a continuous variable to indicate power rather than number of stakeholders and hence qualify the Number of Stakeholders of K. Artto’s Project Strategy dimension to Stakeholder Control.