This study focuses on three important shared values-trust, openness, and commitment-and examines the impact of these values on project performance and outcomes, specifically for science and innovation research projects. To this end, 12 in-depth interviews were conducted with researchers, research managers, and research leaders at the largest research institution in Scandinavia. The findings indicate that the three values (trust, openness, and commitment) are practiced at this research institution and are essential to effective teamwork. The findings also show that trust and openness promote shared understanding, and encourage commitment.