Stakeholders Involvement in Project Management
In the modern world, project management activities are playing a major part in dissimilar businesses segments. Project management is supported as an organisational strategic aspect that results in value creation, innovativeness, and turning visions into reality. In spite of the significance of projects as well as project management their constant failures and challenges at an alarming rate remain a primary concern to both academicians and the industry. Certainly, among the main reason that impacts the success of project management stakeholder influential attributes and significantly, their understanding in addition to effective use and management are said to be paramount to project triumph (Mok, Shen, and Yang, 2015, p.449). Indeed, stakeholders play a significant part towards the success of any given project, especially projects that are complex. As a result, understanding the role and influence of project management is crucial for the implementation of project t management. Davis, (2014) defines stakeholders and people or a group of individuals who are influenced by or are capable of influencing a project. Therefore, the strong corporation of stakeholders is a necessity for the success of any given project because a project can be regarded as a temporary organisation of stakeholders pursuing a goal as a team. According to Eskerod, Huemann, and Savage, (2015) the scholar stated that the drive of stakeholder management is to realize project achievement through the continued progression of their interrelationships (p.9). Consequently, identifying the manner in which stakeholders impact the success of a project is a significant and essential subject matter of stakeholder management. The target of this paper is to inspect the direct impact of stakeholder persuasive variables on the achievement of projects as well as the protagonist of investors’ management process between project success and dominant variables.
Project are organizational strategic instrument that results in value as well as innovation. Nevertheless, the failure of these projects and challenges costs organisations, governments, and global business opulence every time. According to a study undertaken by McKinsey academia and industry in partnership with Harvard University, it confirms an increased rate of project failures and challenges. Similarly, multination development projects are also subject to failure and massive disappointments (Zheng et al., 2016, p.1216). As a result, a majority of the researcher argues that the failures and challenges facing these projects majorly occur as a result of poor stakeholder management (Davis, 2014, p.195). In accordance, to findings show that issue in the stakeholder setting is primarily connected to the stakeholder influential attributes and behaviors as well as management and understanding. Therefore, project management calls for exhaustive stakeholder analysis and inclusive management approach, tools, and techniques to commendably evaluate, use and manage to make sure the well-being and success of projects are enhanced. Therefore, the key variables and concepts utilised in this research include
The primary goal of the project is to bring benefits to its investors. Thus, the paybacks of stakeholders are the driving forces for the project to realise and attain their goals, which drives the success of a project. Describes three success levels comprising of project success, project management success as well as continuous project success. With regard to the organisational point of view, defines success as the success of project product which is a benefit, project management success as a deliverable, while project success is a combination of the two. In accordance to the stakeholder viewpoint Heravi, Coffey, and Trigunarsyah, (2015), notes that stakeholder behavior, as well as management of this behavior, is core to the success of the project portfolio. Heravi, Coffey, and Trigunarsyah, (2015), findings on huge community sector development project took the subject matter past the traditional iron triangle and asserted that the perception of stakeholders in addition to their satisfaction are necessities to project success (p.653). From the organization’s baseline perspective, Tarhini, Ammar, and Tarhini, (2015) reiterate the significance of stakeholder by saying that the success of the project can only be attained when stakeholders are initially inspired which in return contributes to the project (p.25).
The concept of maximising for stakeholder originated through Freeman’s “Strategic Management: A Stakeholder Approach,” which has become the basis for further hypothetical progressions. Thus, stakeholder theory is a theory for ethics and management of organisations Marcelino-Sádaba, González-Jaen, and Pérez-Ezcurdia, (2015), which is against the free market norm of shareholder capitalization and supports maximization of stakeholder. For a very time economists have continued to define the drive of a business as a driving force to focus on shareholders, also known as legal business resolution. Davis, (2014) a stakeholder researcher argue that that is a misinterpretation of the law because the law does not define the resolution of business to focus on shareholders. Instead, the law only allows lawful dealings. Accordingly, this could also echo the reason for a project as an element created to deliver remunerations to the business stakeholders which consists of the stakeholder theories divided into diverse groups, criteria, and models. For instance the three classes of descriptive, instrumental and normative Freeman, Harrison, Wicks, Paramar, & Colle, (2011), the organisational typology of stakeholders, as well as managing for stakeholders. Indeed, stakeholder has been described and conceptualised in a broad range from narrow to broad. The earliest and broad and archetypal descriptions were advanced by Freeman in 1984, the scholar described stakeholder as “any individual or group of individuals who are likely to impact or be impacted by the success organisation’s objectives.” Through the influence of Freeman and much inspired by the success of projects, Mok, Shen, and Yang, (2015) gave a more narrow understanding by describing project stakeholder as people or organisations which are either under or above the authority of the project manager and openly or unopenly get influenced by the results of the project and have a stake in the project (p.447). Similarly, PMOK guide PMI. (2013), outlines stakeholders’ as a group or individual or organisation that can affect or be affected by or distinguish itself to be influenced by an activity, decision or result of a project, who can be proactively engaged in the project or have interest that can be constructively or destructively impacted by the performance of accomplishing of the project.
Conclusion
Accordingly, regarding the debate to involve stakeholders in project management, I will say that it is a good idea in the sense that they play a major role in steering the project forward ensuring successful project completion. Consequently, various researches have shown that poor management involvement in projects has led to challenges and project failures. Therefore, a stakeholder is necessities when it comes to project success. Accordingly, stakeholders have helped to reduce and unmask project risks. The more stakeholders are included in the project, the more the project can decline and uncover risks in the project. Accordingly, this is made possible through initial discussion regarding the needs of the project, as well as constraints. Thus stakeholders can bring up concerns on how to realise this thing by unmasking risks and discussing the way forward on how to mitigate the risks before arising of the issues which dramatically heightens chances of project success. Thus, the involvement of knowledgeable stakeholders could help to steer the project to success through the collection and review of stakeholders’ project requirements.
Davis, K., 2014. Different stakeholder groups and their perceptions of project success. International journal of project management, 32(2), pp.189-201.
Eskerod, P., Huemann, M. and Savage, G., 2015. Project stakeholder management—Past and present. Project Management Journal, 46(6), pp.6-14.
Freeman, Harrison, Wicks, Paramar, & Colle, D. (2011). Stakeholder Theory, the state of the art. Cambridge University Press.
Freeman, Harrison, Wicks, Paramar, & Colle, D. (2011). Stakeholder Theory, the state of the art. Cambridge
Freeman, Harrison, Wicks, Paramar, & Colle, D. (2011). Stakeholder Theory, the state of the art. Cambridge
Freeman, Harrison, Wicks, Paramar, & Colle, D. (2011). Stakeholder Theory, the state of the art. Cambridge
Heravi, A., Coffey, V., and Trigunarsyah, B., 2015. Evaluating the level of stakeholder involvement during the project planning processes of building projects. International Journal of Project Management, 33(5), pp.985-997.
Marcelino-Sádaba, S., González-Jaen, L.F. and Pérez-Ezcurdia, A., 2015. Using project management as a way to sustainability. From a comprehensive review of a framework definition. Journal of cleaner production, 99, pp.1-16.
Mok, K.Y., Shen, G.Q. and Yang, J., 2015. Stakeholder management studies in mega construction projects: A review and future directions. International Journal of Project Management, 33(2), pp.446-457.
PMI. (2013). A Guide to the Project Management Body of Knowledge: PMOK Guide (5th ed.). Newton Square, PA: Project Management Institute, Inc.
Tarhini, A., Ammar, H. and Tarhini, T., 2015). Analysis of the critical success factors for enterprise resource planning implementation from stakeholders’ perspective: A systematic review. International Business Research, 8(4), p.25.
Zheng, X., Le, Y., Chan, A.P., Hu, Y. and Li, Y., 2016. Review of the application of social network analysis (SNA) in construction project management research. International journal of project management, 34(7), pp.1214-1225.
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