Unanticipated value creation: Sensemaking and the value spectrum in partnership projects

This paper explores the dimensions of value across a partnership project (that requires collaboration from two or more organisations), and highlights how unanticipated values from a project can add value to the overall portfolio. Insights into the complexities of defining and managing value derive from a study investigating managerial decisions to persist with a partnership project despite indications of possible failure, and how value was ultimately created. The study highlights a variety of valuable outcomes from project and portfolio activities. Sensemaking processes are illustrated and a value spectrum model is presented to provide guidance for portfolio decision makers involved in partnership projects