Stakeholder participation including clients and end-users has been seen as increasingly acceptable components of the project planning process. They hold useful insights regarding project development, resources flow in the network ultimately exert a strong influence on organization survival capacity. More their involvement occurs at different level and forms during project execution. The predominant idea behind analyzing the stakeholder importance is as the composition of stakeholder might vary from project to project. Furthermore, each stakeholder holds a degree of power which in turn may affect the project adversely. One of the famous assertion of Milton Friedman’s that Social responsibilities of business should be moved around increasing profits. That means if a company truly wants to maximize the outcomes, they should provide complete attention and must take care of their all stakeholders (Dockser, 2019). A very important element comes here companies are seeking B corporation inclusion of sustainable development. In this blog, we are going to discuss stakeholder involvement in projects and try to illustrate a wide spectrum of stakeholder’s impact of project growth.
Types Of Project Stakeholders
There are two board categories of stakeholders have been classifieds
- Internal Stakeholders
- External Stakeholders
Internal Stakeholders– These are the stakeholders involved in a project internally, for instance, a sponsor, internal customer or client, portfolio manager, project team member, or another project team member of the project (Pigmans et.al, 2019).
External Stakeholders– These stakeholders are directly not involved and affected the project outcomes indirectly. For instance An external client or customer, end-user, subcontractors, suppliers, government, local communities and media. Though external stakeholder might have a direct impact on company link effects the operation of the business entity at different levels.
Objectives Of Stakeholder Involvements-
Although it has seen the notion of stakeholder participation continue gaining the attention of the authority, there is no standard set to identify best practices to keep participation. As opined by assignment helpers the four objectives of stakeholder involvement in project planning are-
1- Acceptance from the concerned authority– Coordination and corporation among the stakeholder will resolve the chances of conflicts. The transparent process and inclusive participation of stakeholder and frequent communication enacted critically in terms of decision making (Heravi et.al, 2015)
2- Manage risk and uncertain changes– There is no doubt all the projects pose a certain risk and unwanted events e.g risk of failure of projects and managing them should be a milestone. The project planning also involves a degree of uncertainty and magnitude of outcomes. The adaptive approach can be solely tackled by project management, hence the involvement of stakeholder become important to face the likelihood changes
3- Apprehending understanding– A large process of involvement of public education is required intended to enhance the effectiveness of decision making. The purpose of awareness improves the ability of decision making (Jansen et.al, 2016)
4- Problem formulation– To capture the complexity of data, it has to make sure during project formulation; an involvement of stakeholder must be taken place. This can be included affected agencies, clients’ scientific or technical experts.
Influence Of Stakeholders On Project Progression
Different stakeholders can be a part of a large executive team depending on their roles, how they get involved, and impacting the ambition of the projects. Magassouba et.al, 2019 noted stakeholder analysis can be distinguished into four steps-
1- Identification of stakeholders
2- Assessing stakeholder interest and potential impact
3- Assessing the influence of stakeholders on project success
4- At last outlining the participatory strategy.
Thus as suggested by many essay writers, stakeholder and project both will create a bilateral impact of stakeholders and impacting the function of operations. For example, in construction projects, most of the stakeholders get influenced with sustainable developments and if projects are exposed as environment friendly then it creates a positive impact on stakeholders. Similarly, if there is the destruction of the environment occurs then it can create a negative impact.
Hence it can be said, many factors affect the project planning and its execution as to apparent key roles of stakeholders. A project management team can improve the effectiveness and efficiency of project outcomes, as a result, improves the project quality. On that note, a project manager must include contractors, subcontractors and suppliers who might not be engaged at the early stage of project initiation. In addition to this clients and developers has to be involved for the clear specification. Using the triangle of cost, time and quality, Basu in 2013 has highlighted has represented a strong relationship between the quality of project and stakeholder management. However it has been identified if the project stakeholders are not satisfied with the project quality, the project team will require to adjust the cost, time and scope in order to meet stakeholder’s expectation on quality issues.
Figure- Project Management Triangle
Stakeholder Involvement In Projects Implementation, Identification, Planning And Monitoring
First of all project stakeholders can be either group of peoples, or organization directly involved in a project. Any initiation stage of the project determines the cost, scope and nature of the project, hence project progress is somewhere associated with the meeting communities. This particular step requires careful examination of stakeholders to identify the power, proximity and influence when it comes to dealing with stakeholder (Magassouba et.al, 2019). Adequate strategies should be made to influence the stakeholders and forming a comprehensive link between the risk related to the involvement of stakeholders
Now in the second of project planning, stakeholder involvements surround the following activities such as a project’s work requirements, quality, the specification of resources the schedule definition, evaluation of various risk and determining the delivering methods. Plan and Milestones Review are the most common tools are being used in stakeholder involvement during project planning.
At the third step, project managers facilitate the communication with coordinators for effective utilization of resources and reducing risk during the stakeholder involvement in the implementation stage. It is pertaining to characteristics of the project for example investment, long hours and many unforeseen and unemergent factors not yet disclosed (Nguyen et.al, 2010)
At last, stakeholder involvement during project monitoring stage, largely influence actual outcomes resulted from the project. At this stage participation of stakeholders influence the project development as the implication it can enhance the success of projects to a wider range. If you want to submit flawless assignments on stakeholder management theory, or wanting to represent stakeholder management plan for your assignments, you can directly contact SourceEssay essay helpers via various communication mode.
Conclusion
In this blog, we have successfully established the connection between the stakeholder involvements and their impact on the project progression. We have first identified types of stakeholders associated with the organization directly or indirectly. Then we illustrated the objectives of stakeholder involvements suggested a large process of involvement of public education is required intended to enhance the effectiveness of decision making. Later we described how a project management team can improve the effectiveness and efficiency of project outcomes as a result improves the project quality. Then we talked about Stakeholder Involvement in Projects Implementation, Identification, Planning and Monitoring. At the first stage of project initiation, it has identified adequate strategies should be made to influence the stakeholders. In the second step it has been deduced during project planning, stakeholder involvements surround the following activities such as project’s work requirements, quality etc. Similarly in the third stage project managers facilitate the communication with coordinators. At last stakeholder involvement during project monitoring stage, largely influence actual outcomes resulted from the project which is successfully established in the blog outcomes.
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References
Basu, Ron (2013). “Managing quality in projects: An empirical study.” International Journal of Project Managemen, Elsevier In Press
Dockser.B (2019) The Broad Spectrum Of Stakeholders And Their Impact On Your Business, Retrieved from- https://www.forbes.com/sites/forbesrealestatecouncil/2019/11/21/the-broad-spectrum-of-stakeholders-and-their-impact-on-your-business/#2375a2f3678a, Accessed on, 13 October, 2020
Heravi, A., Coffey, V., & Trigunarsyah, B. (2015). Evaluating the level of stakeholder involvement during the project planning processes of building projects. International Journal of Project Management, 33(5), 985-997.
Jansen, M. P., Baltussen, R., & Bærøe, K. (2018). Stakeholder participation for legitimate priority setting: a checklist. International journal of health policy and management, 7(11), 973.
Magassouba, S. M., Tambi, A. M. B. A., Alkhlaifat, B., & Abdullah, A. A. (2019). Influence of Stakeholders Involvement on Development Project Performance in Guinea. International Journal of Academic Research in Business and Social Sciences, 9(1), 1111-1120.
Nguyen, G., & Aguilera, A. (2010). Key Stakeholders’ Impacts on the Implementation Phase of International Development Projects: Case Studies.
Pigmans, K., Aldewereld, H., Dignum, V., & Doorn, N. (2019). The role of value deliberation to improve stakeholder participation in issues of water governance. Water Resources Management, 33(12), 4067-4085.