Governance of Interorganizational Projects: A Process-Based Approach Applied to a Latin American–European Case

This article proposes a theoretical–conceptual model that describes how the governance of collaborative interorganizational projects (IOPs) develops over time. The model is based on empirical insights from a process-based study, which reveals that IOP governance relies on key partners as holders of a project’s capacity for specialization, centralization, coordination, and control over time. The results also show that trust and interpersonal relationships are essential elements for effective governance and the generation of relational rents. Moreover, relational factors help compensate for the destabilization of the governance configuration in case of unexpected events. These insights contribute to a theory of successful IOP management as a matter of dynamic governance.