Research and development project management best practices and absorptive capacity: Empirical evidence from Spanish firms

•Can the R&D project management practices improve the absorptive capacity of a firm?•Generating absorptive capacity is essential, although its achievement is not a project's aim.•Project management contributes positively to the absorptive capacity of the firm.

Evidence from a study carried out in a sample of Spanish firms indicates that research and development (R&D) project management practices are positively related to absorptive capacity of knowledge (AC), although the influence of these practices differs for each AC dimension. Managers realize that learning from past experiences in R&D projects develops the capacity to gain access to relevant external knowledge. However, the positive relationship between management practices and absorptive capacity is only significant for transforming and exploiting external knowledge in R&D projects. The article discusses the managerial implications of improving absorptive capacity within the management of R&D projects and the firm, for every AC dimension.