ABSTRACT
This paper proposes a model for study of interactions among the key stakeholders associated with the monitoring and control of environmental performance of the projects - the project portfolio manager, the project manager and the environment manager. The model makes use of the evolutionary game theory and the system dynamics approach. The initial interactions among the stakeholders with fixed reward and penalty did not lead to the stable strategy choices. Two other systems namely the random inspection system and the dynamic penalty – reward system are identified from the literature and applied. Based on the simulation results, the roles of key stakeholders were prescribed for the project organization. The aim of this research is to explore practical solutions for optimal strategy of stakeholders during the course of project execution.
Keywords
Environmental Sustainability, Project Management, Evolutionary Game Theory (EGT), System Dynamics (SD), Project Portfolio.