Appendix

Initial Interview Protocol

Data Collection Content Overview

The conceptual study framework (Figure 1) is based on the theoretical arguments of the economists and the entrepreneurship research field. The framework differentiates between project value (PV) opportunities that “might” have been identified and those that were actually exploited. The focus will be on the exploited P.V. opportunities and their relationship to adding to or creating project value. Another important aspect is the existence of project uncertainty and specific situations that cause uncertainties. Specific characteristics of the project, as well as the involvement of stakeholders and, in some cases, external events, are the main categories for causes of uncertainty. The framework below represents the different areas in which data has to be collected.

Step 1: Project Document Analysis

Short summary about the organization: What are the industry, size, and general products?

Briefly describe the project you have selected. Summarize the project charter (business case or statement of scope). If possible, build a basic table with the following entries.

Step 2: Open Discussion

Identify up to three major situations of project uncertainty.

Describe the basic characteristics of the project. (See Figure 2.)

Which kind of situations of project uncertainty occurred?

How did they occur?

How were they managed?

Which opportunities were discovered?

Which decisions were made and how did the decisions affect the project outcomes?

Step 3: Specific Discussion of Exploited Opportunities

Explore jointly with the project manager two situations of uncertainty in which opportunities were discovered to improve the project's value.

Discuss with the project manager a situation of uncertainty that led to improved project results.

Situations of uncertainty are unanticipated events or issues that could not have been known at the start of the project (unknown-unknowns), like technical uncertainty, market uncertainty, etc. Identify as many details as possible in describing the identified situation of uncertainty. Did the PM note a “surprise” or unexpected event, situation, new data, information, knowledge that “wasn't on the radar”—something not considered before.

What were the reasons (causes) that led to the situation of uncertainty, like project specific task characteristics (complexity, novelty, etc.), contractual issues, evolving new technologies, new customers, stakeholders, or new regulations etc.

Ask how this situation of uncertainty was analyzed and by whom. Which alternatives were identified to meet or exceed the project's initial objectives? Try to identify all alternatives that were discussed. Which value areas were expected to be affected (process, outcome, stakeholder, shareholder)?

Which opportunity was then exploited and why? Who was involved in the decision process? Which project changes were expected?

What were the outcomes of the exploited opportunity? More uncertainty? Higher gains?

What were the lessons learned from this situation regarding the management of uncertainty?

Step 4: Specific Discussion of rejected Opportunities

Identify one situation of uncertainty in which opportunities were discovered to improve the project's value but that were not exploited. Refer to the open report in the beginning of your interview.

Discuss as specifically as possible a situation of uncertainty that occurred but was not exploited.

What were the reasons (causes) that led to the situation of uncertainty, like project specific task characteristics (complexity, novelty, etc.), contractual issues, evolving new technologies, new customers, stakeholders, or new regulations, etc.

How was this situation of uncertainty analyzed and by whom? Which alternatives were identified to meet or exceed the project's initial objectives? Try to address all alternatives that were discussed. Which value areas were expected to be affected process (budget, schedule), outcome (specs, quality), stakeholder (satisfaction of different impacted groups), shareholder (ROI, other financial and non-financial benefits)?

What were the reasons not to exploit an opportunity? What were the constraints (specific rules in the organization, etc.)?

What were the lessons learned from this situation regarding the management of uncertainty?

Case List Summary