Building on previous work addressing Action Research (AR) in the construction management field, this paper examines the application of AR methods and techniques on a project pioneering a new form of project insurance: IPI (Integrated Project Insurance). The practicalities of mobilizing a sustained AR programme on a live construction project are explored as the relationship between innovation (IPI), professional practice and academic research enquiry are juxtaposed. The methodological challenges and perceived values of AR are re-evaluated in the light of practitioner opinion and industry desire to learn and improve practices across the sector. The empirical insights facilitate a re-assessment of AR in a construction project context in 4 distinct ways: the nature of the AR learning loop is clarified for a construction project context; the role of project participants in the AR process are examined; the workings of AR “interventions” are explored and the rationale and philosophical assumptions underlying an AR programme in a construction management domain are re-assessed. The informative insights will assist researchers considering an AR programme whilst the supportive recognition of professionals highlights how AR is a potentially valuable approach for industry and academia to work together to create knowledge and refine practice co-operatively
