Managing Stakeholder Interests And Relationships - 6999 Words

Managing stakeholder interests and relationships in mega construction projects: a network-based and behavioral economics approach Ka Yan Mok1; Geoffrey Qiping Shen2; Helen Xiaohui Bao3; Branko Koncarevic4; and Martin Skitmore5 1PhD Candidate, Dept. of Building and Real Estate, The Hong Kong Polytechnic Univ., Hong Kong (corresponding author). Email: margaret.mok@connect.polyu.hk 2Chair Professor, Dept. of Building and Real Estate, The Hong Kong Polytechnic Univ., Hong Kong. Email: bsqpshen@polyu.edu.hk 3Lecturer, Dept. of Land Economy, Univ. of Cambridge, Cambridge, United Kingdom. Email: hxb20@cam.ac.uk 4PhD Candidate, School of Civil Engineering and Built Environment, Queensland University of Technology, Australia. Email: b.koncarevic@qut.edu.au 5Professor, School of Civil Engineering and Built Environment, Queensland University of Technology, Australia. Email: rm.skitmore@qut.edu.au Abstract Significant research efforts have been devoted to stakeholder management issues in mega construction projects highlighting difficulties of current practice and weaknesses of traditional stakeholder analysis methods. A structured review of stakeholder management research would therefore provide useful insights in improving current stakeholder analysis methods for application in complex project environment. Through an extensive literature review, four key research areas are identified, namely â€Å"stakeholder identification†, â€Å"stakeholder concerns†, â€Å"stakeholder influences† andShow MoreRelatedControl Engagement Flow Diagram Of The Project Management Plan799 Words   |  4 Pagesprocess and phases of a project is enclosed. The plan addresses human resource requirements, the methods of how work will be performed in addition to the requirements and modus operandi for communicating among stakeholder (PMBOK, 2013). The documents used in the plan guides a ma nager â€Å"through managing and controlling project activities† (Dow et al., 2015, p. 113). The issue log, work performance data, and project documents are updated on a regular basis throughout the project cycle. Work performance dataRead MoreStakeholder Management : A Common View1738 Words   |  7 Pages4.4 Stakeholder management challenges Stakeholder management is not without challenges. Effective management of stakeholders faces a number of difficulties as identified by the participants to the study despite the standards and available frameworks for managing and engaging with stakeholders. In an ideal world, these standards would work perfectly without any flaws but the world is not ideal at least the project management world. A common view amongst interviewees when asked about stakeholder managementRead MoreThe Algeria East West Highway Essay1267 Words   |  6 PagesWorks). 5.2.2. The Case analysis - External stakeholders interests. Zidane et al. (2015) have evaluated an Algerian highway megaproject based on a holistic evaluation model consists of five measurements Efficiency, Effectiveness, Relevance, Impact and Sustainability. Each stakeholder played a major role in each of the five measures. Emphasizes the importance of managing both internal and external stakeholders. There were multiple external stakeholders in this mega project as follows: LandownersRead MoreProject Management : Enterprise Environment Factors980 Words   |  4 Pagestools and techniques to manage stakeholders is an undertaking that requires constant engagement at each stage of the project. Using expert judgement a project manager may engage senior stakeholders early in the project to secure support and remove any impediments from the project (PMBOK, 2013). Expert judgment is particularly important at the beginning of a project. Simply having the senior stakeholders at the kickoff meeting will tacitly display to other stakeholders and team members the significanceRead MoreStakeholder Conflicts Essay1073 Words   |  5 PagesStakeholder Conflicts in Organizations Chris Lindquist Grand Canyon University: ORG-807 June 25, 2013 Introduction This paper will discuss how non-profit and for-profit organizations manage the interests, opinions, and concerns of their stakeholders. Additionally, this paper will address the management differences that exist between for-profit and non-profit organizations. A set of research questions will be presented to research the effectiveness of the management techniques employedRead MoreCommunication And Collaboration ( Chinyio And Akintoye 2008 )1542 Words   |  7 Pagesabout stakeholder management and engagement. All participants indicated that communication is the best means of engaging with stakeholders and managing their expectations. The company uses different means of communication to different stakeholders. For example, with internal stakeholder’s emails, phone and face to face communication is often used. However participants highlighted that face to face communication and meetings seems to be preferred and results to positive effect in stakeholder engagementRead MoreImpac t Of The Construction Industry On The Uk Economy1582 Words   |  7 PagesToday stakeholder engagement/management is one of the most common challenges in the construction industry. There is now a growing need to further engage stakeholders into the decision making process. (herry pintardi chandra, 2012)This will help enhance the project performance and identify specific needs. Stakeholders are anyone who is effect by the change, any group or individual who claim ownership, rights or bear some of the risks associated with it. This can be an internal stakeholder such asRead MoreA Research Study On Network Density While Managing Networks And Getting Desired Results Of Your Own Interests775 Words   |  4 Pagesintroduced with scholars in the field of my interest. Conference and seminars are very useful means to build networks as many scholars share their contacts and research interests to each other. I pick those scholars from the conference brochures whose research interest matches with my own interests. I try to contact them after the conference and show my interest to collaborate with them in publishing. It is important to think about network density while managing networks and getting desired results ofRead MoreBusiness For Social Responsibility ( Bsr )1278 Words   |  6 PagesCase Study 1: Stakeholder Mapping Introduction Business for Social Responsibility (BSR) is an international nonprofit organization that aims to â€Å"work with business to create a just and sustainable world† (BSR, 2014). To achieve this mission, BSR promotes collaboration and strategic planning in order to catalyze behavioral change (BSR, 2014). With a mission to drive social and environmental innovation, stakeholder analysis is a core competency at BSR. This organization has developed a five-step modelRead MoreWhat is the Stakeholder Theory?1083 Words   |  5 PagesStakeholder can be defined as â€Å"any group or individual who can affect or is affected by the achievement of the organization’s objectives†. This theory focuses on wider aspect rather than only focusing on just the shareholder. Stakeholder theory is a fundamental theory about how business works at its best and how it could work. It is concerning on the value creation and trade on how to manage a business effectively. A consequences of focusing on organization or company’s stakeholder is that the shareholder