Projects may exist in many forms, depending on the purpose and organisational context. Irrespective of the type and nature, however, the effective management of any project requires a high degree of commitment by the project members to the accomplishment of project objectives. The high degree of reliance on external international funding makes project management in non-profit organisations of developing societies a challenging task. The marriage of two entirely different sets of values and philosophical orientations creates an invisible tensile force, impacting (...) the different stages of the project life cycle. The present paper, which is exploratory in nature, broadly aims to study the impact of sponsors’ values on the different project-management activities, including both the planning and the implementation stages of the project. The research involves conceptualisation of the different significant issues in effective project management. The analysis of the identified issues is first made on the basis of the experience of the selected stakeholders in Tanzanian non-profit organisations. The analysis is further linked to the selected context-specific contemporary philosophical thoughts affecting the socio-cultural values in the region. The analysis shows that the variation in the values of project owners and stakeholders is one of the major challenges in the effective implementation of a project in the given context. The study is novel in its approach and raises some fundamental issues arising due to the different philosophical orientations and value-sets of the different partner-project organisations. It is expected that the study will stimulate further academic debate on the broader theme of ‘values, philosophy and project management’. The study is also likely to contribute to knowledge development in the subject area of management in general and practical management philosophy in particular. (shrink)