Freeman, Harrison and Wicks (2007) states that business can be understood as a set of relationships among groups that have a stake in the activities that make up the business. Business is about how customers, suppliers, employees, financiers (stakeholders, bondholders, banks and so on), communities and managers interact and create value. Customers, suppliers, employees, financiers, communities and the managers are all key parts of today’s business organization.
The project management team must identify the stakeholders, determine their requirements and then manage and identify those requirements to ensure a successful project. Stakeholder’s identification is often difficult. Key stakeholders on every project include: Project manager this is the individual responsible for managing the project. Customers are the individuals or organization that will use the project’s product. There may be multiple layers of customers. Project team members are the group that performs the work of the project and sponsor the individual or group within or external to the performance organization that provided the financial resources, in cash or in kind, for the project (Project Management institute, 2000)
Walker, Bourne & Shelley (2008) on the other hand categorizes stakeholders in four groups: upstream stakeholders, downstream stakeholders, d...
... middle of paper ...
...ication and analysis techniques. Retrieved February 25, 2014, from Learning Ace Web site: http://www.learningace.com/doc/1063225/288b1243f6fcc2df3c41c39785930c60/stakeholder_identification_analysis_techniques
Twyford, V., & Baldwin, C. (2006). United Nations Environment Programme Dams and Development Project: Stakeholder Participation. Retrieved February 25, 2014, from United Nations Environment Programme Web site: http://www.unep.org/dams/files/compendium/Report_SP.pdf
Schmidt, P. (2012). Stakeholder Involvement in Rehabilitation of Former Uranium Mining Site International Case Studies. Retrieved February 25, 2014, from International Atomic Energy Agency Web site: http://www.iaea.org/OurWork/ST/NE/NEFW/WTS-Networks/ENVIRONET/environetfiles/WkpRemediationInfrastructure_Germany_Dec2012/WkpRemediationInfrastructure_Germany_Dec2012-Stakeholder_Involvement_Schmidt.pdf
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- Stakeholders: Stakeholder involvement, communications, etc. Stakeholders were not identified and involved into planning and development of the project. To begin with, the top management, the internal stakeholder, was not knowledgeable about all the steps of the new system implementation. CIO assumed that the process should go smoothly since it consists only of software installation and employee training. However, more that these two steps supposed to be carried out in order to get the system up and running.... [tags: Project management, Implementation, Stakeholder]
734 words (2.1 pages)
- Discussion The key to the relationship between project managers and stake holders, is ensuring that the project managers have an understanding that stakeholders are key to any project, mission, and organization and have an understanding of how to appropriately involve manage stakeholders to be successful. Therefore, project managers should tailor formal processes to support the various projects they manage. Stakeholder During the entire process, it is key that the project manager fully understands that it is responsible for documenting all of the relevant information for stakeholders, as it relates to their impact on the project.... [tags: Project management, Management, Stakeholder, Plan]
1283 words (3.7 pages)
- In this chapter, developer elaborate more detail about methodology that developer use for this project. But before that what is methodology is all about. A methodology is usually a guideline for system to solving a problem, with specific components such as phases, tasks, methods, techniques and tools. To develop the web-based system, it is very important to plan the project for the system to run smoothly and meets all of the requirements. The research methodology is the best way to avoid problems that may harm the system.... [tags: Rapid application development]
1076 words (3.1 pages)
- Project management synergy beyond traditional processes Abstract Project Management - The term that dictates the future of a project. A successful project owes all its credits to the Project Management and the evidence is obvious when the service (result of the project) meets all its expectations. Yet we have witnessed several projects failing even after having a plan in place, following the plan and meeting all the requirements. Why have these projects failed and what more is critical to the success of the project.... [tags: Project Management]
1330 words (3.8 pages)
- Stakeholders’ Management – End User Engagement Description, Recognition, Analysis, and Synthesis During the year 2007, my brother was working for a web-development company in Beirut that had established a price-competitive position in the market. That company was successful, for some time at least. The company’s strategy was to take shortcuts where ever possible to reduce the development costs so that the end-product’s pricing would be cheaper than their competitors thus winning customers over. The company was generating profit, for some time, since most of their happy customers were companies that requested basic websites.... [tags: Stakeholder, Stakeholder analysis]
1919 words (5.5 pages)
- Stakeholder engagement is a central commitment demanded by PfS. The engagement process under BSF should allow for discussion between the ProjectCo, the Local Authority and Schools, enabling better identification of sustainable energy requirement. Indeed, several studies highlighted the Contribution of clients and users to the Innovation Process. Gardiner and Rothwell (1985) point out the role of the customer in aircraft and agricultural machinery innovation and went as far as claiming that the customer should be a full ‘partner’ in the design process.... [tags: Business Management]
2044 words (5.8 pages)
- Problem Gambling Service Coordination Demonstration Project Report 25 June 2010 Contents Project Background 3 Project Methodology and Outcomes 4 Project Deliverables 5 Project Report: Integrating Service Coordination & Problem Gambling Treatment 7 Recommended Actions 8 Appendices 9 Project Background The project is an initiative of the Victorian Government’s Taking Action on Problem Gambling Strategy (2006 – 2011) developed to enhance problem gambling treatment and the responsiveness of the problem gambling service system.... [tags: Project Report]
1526 words (4.4 pages)
- A major change that has occurred in the Project governance is an increased development in integrity and discipline towards the project. whereas in the past people were not serious about the projects and that caused many problems and loss of money. This change is borne out clearly in census figures. For example the last fifty years has seen a shift in the nature of work, from mass manufacturing, with stable customer supplies and slowly changing expertise, to the current situation where every product or service may be supplied against a tailored design, and technology changes continuously and rapidly (Keegan, 2001).... [tags: Management, Project management, Decision making]
703 words (2 pages)
- Task two Stake holder strategy Task two will be looking at what is a stake holder and will describe how a stakeholder management strategy would be constructed while sticking to company policies and procedures for this project. Also this document will include a brief description on the benefits from a stakeholder management system on the project. Firstly the a stake holder is defined by Weiss 2006 “individual or group with an interest or share in an undertaking” this can also be described as a person or company that is affected by something for example it could stretch from a client right to the next door neighbour opinion.... [tags: Project management, Management, Stakeholder]
1175 words (3.4 pages)
- ... The contractor’s attempts to assess the risk involved and prices accordingly are inhibited. Insufficient time or information usually results in additional cost to cover potential risk. This is just one reason ECI,s were developed. Also the adversarial environment in traditional contracts stifles innovation and communications, proving to be detrimental to the professional relationships, ultimately affecting the clients objectives (Pullen) Creating a team A famous industrialist once said, “Coming together is a beginning, staying together is progress and working together is success”, this probably sums up the ECI main strength in a nutshell.... [tags: cost, building, risks]
1588 words (4.5 pages)
- Harry Potter and The Hero's Journey
- Genetically Engineered Reaps: Impacts on Social Equity
- The Importance of Non-Verbal Communication
- To What Extent is the Proposed Scottish Split from British Rule Beneficial for Either Country?
- The Media is a Powerful Actor in Terrorism
- Lupus and Multiple Sclerosis