How to Manage Crowdfunded Projects: Empirical Evidence from a Comparative Study of Game Development Projects

Abstract

This study expands current understanding of the crowdfunding phenomenon by explaining how crowdfunding initiatives that have succeeded in hitting their financial target— referred to as crowdfunded projects— can continue to succeed by delivering their promise within the schedule, budget, and quality guidelines. The study develops propositions that elaborate the importance of undertaking four broad strategies—namely, project management, communication, community, and open innovation— during crowdfunded projects. It then reports the results of an in-depth, comparative qualitative study of two exemplary game development projects to evaluate the applicability of the propositions and create a better understanding of their underlying concepts. The findings confirm the propositions by demonstrating how the two projects differed greatly in the use of strategies. Furthermore, the exploratory nature of the comparisons enriches the propositions by revealing new concepts that need to be considered in the successful implementation of the identified strategies.