The impact of project management assets on the VRIO characteristics of PM process for competitive advantage

Business strategy plays an important role for the success of a business firm. Strategy must be implemented in order to contribute to the success of a business firm. Often, however, strategic management research focuses on the development of strategy, but neglects the importance of implementation. Project management capability is considered an important factor for successful implementation of business strategy. The purpose of this research is to investigate the impact of project management capability as the source of a firm's competitive strategy by focusing on the VRIO (value, rarity, inimitability, organisation) characteristics of project management processes. The results show that project management assets have significant impacts on the VRIO characteristics of the PM process. One of the meaningful findings is to confirm that the intangible project management assets play a mediating role for the tangible project management assets to achieve the VRIO characteristics of the PM process.