Stakeholder Management And Its Contribution To Project Success Construction Essay

Stakeholder Management And Its character To find Success Construction Essay sick steering is an evolving check which is relatively new in both charge and faculty members hence cognition is drawn from other disciplines to still advance both theory and practice in managing aims. Consequently this enquiry impart draw from different academic disciplines for its theory and the verbal expression industry for its practice.To this abolishing a watch could be expound as a strategy utilize by organizations to win its strategic goal, the strategy could be suggested to have a pouch and an end date (Turner cc9 p.20 Holton 2002 p.10-2). It could also be suggested that the word organisation in the preceding(prenominal) definition by Turner 2009 could be c totallyight-emitting diode the meet stakeholder. Olanda and Landin (2005 p.321) be stand stakeholders as agroup of people who have a vested affair in the mastery of a toil and the environment in spite of appearance which the work out operatesThis enquiry is focused on investigating the impact of stakeholder caution and its division to bear victor in the construction industry. It could be suggested that the use of PMIs lifetime cycle human bodys be adopted for the entire project plan as seen in figure 1 below. mannikin - realize LifecycleThe project initiation phase of this report will allow proposing a project interrogation takings, charge a project executive program or project sponsor and proposing a look into plan. While the project planning phase will include reviewing of the available project materials and the execution phase will involve penning up the literature review and project methodology. Handover and closeout will involve submitting the last report to supervisor and award of Msc degree in fancy Management. Lessons learnt could be suggested to be the feedback and experience gained in during the research.1.2 puke ContextProject Context could be suggested to be the setting in which a project is carried out (ApmBok 2009). In intercourse to the above commentary, the aim of this research is in agreement with the above suggestion (Achterkamp and Vis 2008 pg 749).1.3 Project rationale1.3.1 Academic RationaleThe academic research into project stakeholders has been attractive and extensive to researchers and professionals. Evidence shows that the construction industry accounts directly for 10% GDP growth in the UK (Cridland and Wates 2009 p.5),this goes to let off the need to investigate the impact of stakeholder management and its contribution to project success in the construction industry and also fulfil the academic necessity of the award of Masters Degree.1.3.2 Business RationaleThe economic implications for any organisation if projects fail will be devastating considering the above report by Wates and Cridland (2009 p5), this report shows that the construction industry account for 10% GDP growth. Project failure of any kind in the current economic humour will salute the organization its finance and jobs e.g. BP deep horizon in the US Gulf Coast where the collapse of a well led to fatalities which in-turn increased BPs financial burden.1.3.3 Personal RationaleIt could be suggested that as a project management professional, embarking on this research will financial aid one better understand the principles of stakeholder management. The knowledge gained from this research will mop up any unanswered questions at the end of this research.1.4 Aim and ObjectivesThis research is aimed atInvestigating the impact of stakeholder management and its contribution to project success in the construction industryObjectivesTo explore the principles of stakeholder management and project success.To assess the benefits and challenges of stakeholder management.To correlated a relationship in the midst of stakeholder management and project success.To propose a strategy for measuring the impact of stakeholder management thereby assessing its i mpact on project success.To make recommendations for improved stakeholder management practices.1.4.2 Project Scope agree to Burke (2003 p. 104) project scope identifies when a project has been successfully immaculate at heart specified requirement. The scope for this project will involve activities such(prenominal) as writing the literature review, research methodology and drawing on the findings of the above mentioned activities to come up with a conclusion and recommendation. The scope of this research excludes the execution of the primary research.1.4.3 Project DeliverablesProject deliverables for this research is suggested to be the subject of the report at every stage of the lifecycle (ApmBok 2009 p.135). The deliverables as shown in instrument panel 1 ar generalised and subject to being revised at the end of this report. dining table Project deliverablesDeliverablesDescriptionProject Research pictureIntroduction/ BackgroundProject Context and Project RationaleProject De finitionProject ApproachResearch Project Schedule imaging RequirementsEthical contemplationsLiterature ReviewResearch of theory and practice within the construction industryProject Approach or MethodologyIt involves the description of the process in the collection and evaluation of info that will be used to achieve the overall aim and objectives of this report.Project ProposalThis involves outlining a research proposal from the finding and the analysis done in the project approach section.Conclusion and RecommendationThis section involves the final summation of all the data used and presenting recommendation(s) where necessary.1.4.4 Assumption, Constraints and ConsiderationsAssumptionsThe project will be delivered on time, choice and within budget.The literature / materials needed to complete the project will be readily available.That the project aim and objectives will be met at the end of the project.ConstraintsThe time required by the sponsor to complete the report.Combining deuce-ace live projects at the same period. i.e. CPD, Group placement and dissertation.ConsiderationsThat the report will inspire its readers to proceed towards a primary research.That there will be more research into the impact of project stakeholders and its contribution to project success within the construction industry.1.5 Initial Literature Review1.5.1 Stakeholder ManagementProject stakeholders have been widely discussed in various project management literatures. Fewings (2005 p.34) draw project stakeholders as people that their sp be-time activity could affect the outcome of the project while Olanda and Landin (2005 p.321) agues that although project stakeholders are group of people with different interest in a particular project, they are also interested in a successful outcome no matter the level of interest. Since this research will be focusing on stakeholder management, McElroy and Mills (2007 p.270) suggested that stakeholder management deals with the relationships be tween stakeholders within projects. This relationship must be developed and structured so as to achieve a successful outcome. McElroy and Mills (2007 p.270) description of stakeholder management is convincing because different bodies of knowledge are yet to agree on a particular description for stakeholder management.Fewings (2005) and Olanda Landin (2005) perspectives on project stakeholders in relation to stakeholder management is valid in that all agreed that stakeholders are do up of more than one individual, so managing this relationship as described by McElroy and Mills (2007 p.270) will determine if a project is a success or a failure .1.5.2 Project SuccessYu et al. (2005) suggested that aProjectis a success if its created product adds value to the invitee, considering the cost to the client at the point of acceptanceWhile there is no explicit definition to what project success is or what will be the outstrip way to define success, this report would look into critical su ccess criteria used in the construction industry to determine when a project is successful. The ApmBok (2009) defined project success asthe satisfaction of stakeholder needs measured by the success criteria as identified and agreed at the start of the project1.6 Project Research ApproachIn this section it could be suggested that a proposed research approach be developed, this approach would be aligned with the project aim and objectives.To achieve the above this report has identified two methods or type of research, this are the Primary and Secondary research.A primary research entails the collection of new data or expansion of existing theories in project management body of knowledge. This could be achieved by using the followers methods the use of questionnaires, sampling and survey.Data for this research would be collected though documentary research. This involves analysing various literatures relating to the research given that this research is a vicarious research, a qualita tive method will be employed.1.6.1 Ethical ConsiderationSekaran (2000, p17) defined ethics asa code of conduct or expected societal norm of behaviour while conducting a research or project .Below in table 2 are the ethical considerations used to compile this research.Table -Ethical ConsiderationThis research was carefully structured to obviate any misrepresentation or distortion of data collected.All info used for this research was adequately referenced to avoid plagiarism.This report was written with due respect for the subject and authorsAll teaching used for this report is in line with universities academic guidelines.Sekaran ( 2000, p.261)1.7 Project cookery / Report ScheduleBurke (2003, p.94) defined project schedule asa process required to ensure that various elements of the project are properly managed and controlledThe project schedule will be used to deal out expected start date and expected finish date. The schedule is in a Gantt chart, this could be suggested to be in agreement with (Burke 2003) definition. See auxiliary 1 for more details.1.8 Project Resource Requirements and budgetThe resources required for a successful completion of this project is listed in Table 2 and the cost estimate that would apply to both primary and secondary research is in Table 3Figure -Resources RequirementHuman ResourcesDescriptionHours investigatorResearcher would carry out a secondary research and put in a primary research plan to be used to further analyse the project aim600Academic supervisorThe academic supervisor would give guidance, review and monitor project to ascertain if the project is within scope.60Project sponsorThe project sponsor and management would be need during an actual primary research.100Table Project BudgetActivityBudgetSourceCost for Researcher and supervisor3000RGU and grassPrinting of dissertation and buying of CD drives ( hard and soft copies)200Researcher and Sponsor (in the case of a primary Research)Transport is subject on the location of the organisation and RGU libraryNot Determined at presentResearcher and Sponsor1.8.1 Risk MatrixRisk management is a bring out area in APM and PMI bodies of knowledge projects are oftentimes associated with one form of hazard or another (Raz Michael 2000), controlling this risk is an important task for any researcher. To this end, this report will take a proactive role in controlling risks associated to this project by exploitation a risk plan which can be seen in Table 4Table Risk MatrixRISKProbability tingeRatingMitigating MeasureNew RatingDifficulty in accessing data for literature review3515An early start would be suggested, so as to either change research topic or source for resources5The aim of the research becomes to wide to underwrite3412Ensure research topic is ad hoc not too wide4Too many training248Start gathering and arranging information on time2Technological Difficulty3515Back up all files and attend classes on software training4Respondents for th e primary research are not co-operative2510Ascertain at an early stage the willingness of respondent5Delays leading up to dead line3515Early start ensures an early finish5The key describing the colour coding is in Appendix 21.9 Report LayoutFigure Report Layout