In this doctoral study I conceptualise shared values in order to explore a management problem from my work place environment. I observe that business-to-business (B2B) relationships between project managers and self-employed consulting engineers terminate; project managers switching to other vendors and self-employed consulting engineers losing their contract. The findings from the doctoral study show major influence of the shared values in managing project based professional relationships. Specifically, the elements of B2B professional relationships “commitment” and “trust” embedded in relationship performance show managerial implications. Furthermore, the literature review revealed a lack of qualitative knowledge in the research domain of B2B relationships. Hence, the findings from the doctoral study fill this gap and contribute to the academic knowledge by providing practise based qualitative evidence. This doctoral study was conducted in two phases. In the first phase, building on previous research articles, six elements of B2B professional relationships were refined and tested through qualitative interviews in order to explore their relevance in the B2B professional relationship between the project managers and self-employed consulting engineers. As a result from the first phase, a conceptual model of shared values was developed. In the second phase, the conceptual model of the shared values developed from the first phase was explored and validated through the experience of the project managers and self-employed consulting engineers.