Although there are many types of internal resources--both intangible and tangible--shaping modern organizations, few of these resources are strategic. Those that are play key roles in organizational efforts to develop and sustain competitive business advantages that help improve financial performance. One approach for identifying such strategic resources is the VRIO (valuable, rare, inimitable, organizational support) framework. This paper examines the preliminary application of a proposed instrument--an exploratory factor analysis--for measuring project management through a Resource Based View (RBV) lens, an instrument based on a VRIO framework. In doing so, it describes the field's literature on RBV and VRIO; it describes the proposed VRIO model. It outlines the methodology used for testing this model, which involved administering an 80-question Web-based survey to 202 project management professionals contacted through a PMI mailing list. It then details the survey's findings and analyzes--using the exploratory factor analysis--its results, identifying project management's independent variables (its intangible and tangible assets) and its dependent variables (its VRIO characteristics). It also explains the significance of this study's outcome, of how it can help organizations expand their perspective of project management and how it can help researchers conduct future studies on project management's intangible and tangible assets.