Conceptual Framework of Project Management for Space Industry Projects

Abstract

A means of shifting society to becoming resource-efficient and creating a much-needed "resource revolution" is the so-called Circular Economy. It is intended as an alternative to the traditional linear economy (make, use, dispose) in which resources are kept in use for as long as possible, while extracting the maximum value from their use and then recovering and regenerating products and materials at the end of each service life. However, its implementation as a business strategy has tended to be at a very superficial level. By drawing on the principles of the Circular Economy and on the resource-based view and dynamic capabilities including ambidexterity and business model innovation, we develop a novel framework for scoping and managing the Circular Economy that encapsulates the key stages of progression to sustainable competitive advantage. We then validate this novel framework by examining the experiences of private actors in the Space Sector to assess their engagement with the Circular Economy. We identify key lessons for managers that have broad applicability to other industrial sectors.