Developing and Integrating Life Cycle Management Methods in Project Management Systems: Case: Faveo Prosjektledelse AS

Abstract

The goal of this master thesis was to develop life cycle management tools and methods for use in project management. The research questions concerned the practical integration of these tools in a system dynamics perspective and the contribution this can have in creating value. First an introduction of the research area is given, followed by the methods employed, an exploration of the theoretical foundation, a theoretical analysis of how life cycle management in project management can be used, an explanation of the tool that was developed, an explanation of the application of the tool on a project and how it contributes to value creation, and finally a discussion is given followed by a conclusion. The Sustainable Project Life Cycle Management (SPLCM) Guide is the tangible result of this thesis, and it is an easy to use tool that project managers at Faveo (and in other companies) can use in their projects to mitigate the environmental and social impacts of their projects. Using this guide will change the Faveo system (illustrated in the specialization project) and allows the project managers to have a direct relationship with the community and the environment in the life cycle of their projects. The SPLCM Guide not only has the potential to reduce the impact the projects at Faveo have on society and the environment, but it can also create value for the project owners and for Faveo itself. Sustainable value creation meets the needs of stakeholders while creating value for the company, and the SPLCM Guide (in conjunction with other initiatives) can realize this for Faveo.