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Stakeholder Management Model

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Question 1 (10 points)
Stakeholder management is one important aspect of project management, especially in large projects where multiple stakeholders with different power, influence and interests are present. Identify two different stakeholder models used in academic literature and compare their underlying assumptions and relevance.

In the article Project Management Models as Value Creators, Eskerod and Riis used a project management model. It shows and specifies the management breakdown structure, the management processes, and the roles in project management. Five companies were selected for the study. In all five companies, a specific department was chosen as a unit of analysis for the research project. Listed below is a description of all …show more content…

They use this given information to build a model of the stakeholder management process and explain how a relationship management approach can generate both a sense of group empowerment and project satisfaction. The task is to investigate the relationship management process in real estate and construction projects in both countries; to identify good practice in the management of stakeholders; to develop a framework within which to compare and contrast stakeholder management practices in Hong Kong with Australia etc. (Rowlinson & Cheung 2008). The authors used a triangulated approach using both qualitative and quantitative for the method. Semi-structured interviews, observation, document examination and case studies were used for this study. This approach allowed the researchers to explore the perception of a range of professionals in the construction industries of Hong Kong and Australia (Rowlinson & Cheung 2008). That being said, 15 independent variables were identified for further studies. A second study had to be conducted for qualitative studies in order to verify the quantitative study. Furthermore, the characteristics/variables which influence relationship management and project performance relatable in Hong Kong and Australia, their effects are different. Towards the final stage of …show more content…

In the end, they all correlated and matched up. While the second article uses a stakeholder management process model in which the concepts of empowerment, organizational culture, trust and commitment are used as a basis for exploring the process. The five models are analyzed and they discuss their similarities, differences, and characteristics. The question is how and why stakeholder management and relationship management are different in two unique cultures? It comes down to trust, leadership, and communication. In Australia, the people are more engaged, whereas in Hong Kong they are more detached participating in

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In a competitive world market, businesses must have a thorough understanding of the processes and systems used within the company in order to determine whose interests need to be taken into account when implementing policies and/or programs. This stakeholder analysis is integral to growth and development. For large corporations which have multiple divisions and companies within their corporate structure it is essential to look at all aspects of the business model to identify stakeholders. Establishing the given responsibilities of the various divisions and the direct role they play in the economic success of the firm must also be considered. Many of the largest and most lucrative corporations in the world are those related to supporting military

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498 Words | 2 Pages

A successful dissemination has three goals awareness, understanding, and action and specific strategies are used to reach targeted audience (Myers & Barnes, 2004). Awareness brings attention to the study or new practice to the maximum number of stakeholders. Understanding provides a rationale or purpose of the study or new practice and action demonstrates how the study was implemented and provides an evaluation report. Selecting one or more of these goals that are appropriate for the target audience will increase the likelihood that the new practice will be accepted by key stakeholders as well as influence and increase the motivation of other healthcare organizations to implement the practice (Agency for Healthcare Research and Quality [AHRQ], 2012). This paper provides a summary of strategies to disseminate the trial results of using alcohol disinfectant caps (ADCs) to prevent central line-associated bloodstream infections (CLABSIs) to key stakeholders over a 2-month period followed by dissemination to the greater nursing collective.

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Every stake holders has its own needs and demands from the organization. Every stakeholder which are directly attached to the company requires the information as it required and his role. These are the persons, groups or other company which have legitimate interest in the company and its functions. These persons or the group directly or indirectly communicate with the company. Stake holder analysis is done below to understand the needs and demands of the stakeholders.

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Task 4.2: “A project management is the process of managing a project with a project team and team leader, to coordinate all activities and tasks in a cost effective and time frame manner to complete a project to achieve its

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TASK IV: PARTNERSHIP IN PROJECT MANAGEMENT Partnering is a project approach designed to allow the construction process to be performed within an atmosphere of mutual trust, commitment to shared goals, and open communication among the partnering members while working in harmony toward mutual goals in order to avoid claims and litigation and establish a win/win management approach. For the complex and large-scale Atlantis project, the contractually associated construction partnering between Laing O’Rourke and NORR along with various other members like Rockwell Group, WATG, EDSA, helped to create working relationship among all of the team members based on mutually agreeable plan of cooperation and teamwork to improve productivity. The main objectives of Atlantis project partnership included reducing project costs and schedules, eliminating change orders and claims, improving communication by developing

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1651 Words | 7 Pages

INTRODUCTION The application of information, expertise, tools, and procedures to project activities to meet the project requirements is known as project management (PMBOK 2008). Alternatively, project management is the process in which projects are well-defined, planned, supervised, organized and conveyed such that the agreed features and requirements are fulfilled (APM BOK 2006). Success of IT projects is very much dependent on providing the anticipated product at the projected time, within budget, its desired performance levels, acknowledged by the client, offering at least the minimum agreed functionality i.e. meeting customer satisfaction, and delivering the promised benefits (Dalcher and Brodie, 2007).

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1043 Words | 5 Pages

Each relationship with each stakeholder will differ in importance according to the “Stakeholder Salience Theory” by Mitchell, Agle and Wood. The following stakeholders will have the following relationships with SAGF (Mitchell, Agle and Wood,

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Stakeholder analysis Stakeholder are entity that will affect the organization actions, objectives and policies. There are two types of stakeholder which is internal stakeholder and external stakeholder. The McDonald’s stakeholders are customers, suppliers, employees, managers, government, local communities and pressure groups. Customers Customers are the external stakeholders of the company, no customer mean zero profit.

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453 Words | 2 Pages

The proper Information disclosure should be done with every stakeholders because A well-informed stakeholder can prevent a project from continuing on a path that will fail to deliver the required benefits, by highlighting issues and concerns as soon as they arise. Stakeholder Consultation Stakeholder consultation involves the development of constructive, productive relationships over the long term and it provide us mutual benefit as a result. Stakeholder consultation also provides us to identify trends and emerging challenges which are currently or will in the future impact on the organisation. Listening to stakeholder concerns and feedback is a valuable source of information that can be used to improve project design and outcomes, and help a corporation to identify and control external risks. It can also form the basis for future collaboration and partnerships.

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941 Words | 4 Pages

Introduction This case study explores the acquisition of the Body Shop, which is one of the largest franchise cosmetics companies in the world, by L’Oreal. The main concentration of the case study aims at investigating the impact on business ethics and corporate social responsibility by the concentricity of the Body Shop and L’Oreal and how the general attitude and buying behaviour is distorted in the course of this acquisition. L‘Oreal being the big conglomerate in the cosmetics industry acquired the Body Shop International which is comparably small but having iconic brand of environmental and socially responsible concerns, on 17 March 2006, through a covenant of $1.2 billion. The combination of two brands in a newly formed conglomerate implies a combination of values, principles and associations that might affect a company’s appeal. The verity that L 'Oreal 's acquisition of the Body Shop provides plenty of potential growth opportunities is undeniable; nevertheless the question of how well the acquisition sits in the group of the world 's largest cosmetics company is another matter.

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1661 Words | 7 Pages

2.2 STAKEHOLDERS A stakeholder is any individual or group that either positively or negatively, impacts or is affected by the choices and activities of an organization. It can likewise be alluded to as any individual or group who has a personal stake in the result of an organization's activities. Stakeholders are classified in view of the degree to which the choices of the organization influence them. We have the individuals and groups who are directly influenced by the choices of the organization, and there are the individuals and groups who are not specifically affected by the choice of the organization. Cases of direct stakeholders include employees, creditors, contractors, investors, owners, customers, clients, consumers, shareholders,

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1508 Words | 7 Pages

Successful companies such as Diageo affect more and more people as their success grows. The more people they affect leads to a bigger impact that their actions have especially over people that have influence over their projects such as their customers and suppliers (Mindtools, 2015). Stakeholder Analysis’ are used to ensure that all the key stakeholders are happy and supportive in order to help you succeed (Mindtools, 2015). There are three main steps in preparing a Stakeholder Analysis.

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To organise for project management requires an understanding of the organisation’s architecture which includes the organisational hierarchy - the grouping of internal business units, the authority lines and interaction with one another. Each of these aspects should be designed to support project management within the organisation. Structure should follow strategy or else it may impede communication, coordination and decision making which are all key to success (Brevis, 2014, p. 224). Hence, an important function of upper management is to support project teams by either redesigning the organisation to emphasize projects or integrating projects into the current organisation (Graham & Englund, 2004).

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946 Words | 4 Pages

Stakeholder theory gained momentum and increased in significance during the mid-1980s. According to Freeman (as cited by Appiah, 2016) stakeholder theory contributed to reconceptualizing the fundamental manner through which firms operated, and leaders behaved, with the focus shifting toward external stakeholders. Foster & Jonker stated that the introduction of the stakeholder theory helped change the way in which organizations operated when the emphasis had historically been on internal stakeholders, in which the stakeholder theory altered this operation and implied relevance to external groups and communities (as cited by Appiah, 2016) Simmons said that with the advent of the stakeholder theory, organizations were compelled to assume greater

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The principle reason that motivated me to pursue the MSc Project Management course is the appeal and challenge Project Managers experience in delivering assignments they undertake in their career. The qualification, indeed, lead to very smart and modern careers for graduates who love challenges, creativity, leadership and success. As a graduate of Mathematics, I have cultivated these features in my student life. Now, for my master level of study, I would like to take my chance of attaining formal skills in the area of project management. From my research, I see that Project Management is the application of skills, knowledge and techniques to meet the objectives of a project and stake holder’s expectations.

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