Enhancing value capture by managing risks of value slippage in and across projects

Project-based firms have to capture value from the projects in which they engage. This can be challenging as firms need to reconcile project goals and organizational goals while attempting to avoid the slippage of value to other actors. Drawing on interviews with architects and clients, this research reveals how architectural firms used the strategies of postponing financial revenues in a project, compensating for loss of financial revenues across projects and rejecting a project to accept or mitigate the slippage of financial value, and to avoid the potential slippage of professional value in projects. With these strategies firms attempt to enhance their overall benefits. The study contributes to the literature on project business by showing how a more nuanced conceptualization of value slippage is particularly helpful to theoretically explain and practically manage the value capture of project-based firms through both single project and project portfolio decisions.