The purpose of this article is to explore the roles and potential benefits of axiology and value theory in project research. This is done through (1) an exploration of the essentials of axiology and value theory; (2) a review focused on how values have been used in project research; and (3) a reflection based on the historical–logical development of—and paradigmatic influences on—projects and their management. It is concluded that project research would benefit from a more encompassing philosophical treatment of axiology (...) beyond merely acknowledging values as a thematic concept or as part of a project management methodology. (shrink)