Thomas G. Lechler Howe School, Stevens Institute of Technology
Infusing Entrepreneurship Theory into the Project Management Discourse: Going beyond the Triple Constraint Paradigm

The management of project risks is well established and standardized by the PMBOK(c). However the management of uncertainty is not clearly addressed or explicitly differentiated. If managed differently uncertainty could lead to positive effects on a project's value but only if they are addressed with an entrepreneurial mindset. This insight is supported by empirical data showing that the exploitation of opportunities is essential to create value during project implementation. The question how entrepreneurial-like behaviors can be developed to complement the management of project risks is directly addressed.