Analysis of stakeholder management approach to successful completion and adoption of construction projects

Abstract

Project management consists of various kinds of managerial areas. Stakeholder management is one of the major parts of the project management discipline. This is to say, many projects were affected by different stakeholders. When it comes to construction projects, this effect is frequently observed. For instance, delays in projects, cost overruns, lack of project quality, and shortages of financial float can be pointed out as major problems that occurred due to a lack of proper stakeholder management in a construction project. However, a proper stakeholder management approach is an adequate discipline that is needed to facilitate the successful completion and adoption of projects. Moreover, a project manager (PM) has a great responsibility to manage and create dynamic stakeholder management plans throughout the project life cycle, from project commencement up to its completion stage. In addition, he should be capable of gaining maximum benefits and outcomes from the stakeholders to approach their project goals. Hence, project managers should be very keen on relevant knowledge and tactics. In order to achieve the research objectives, a comprehensive literature review was carried out, and further findings were found through the conducting of a structured questionnaire survey. Findings were analysed using the Relative Importance Index (RII) and hence prioritized data according to its descending order in order to come up with results. Accordingly, it was observed that fast delivery service, monitoring and responding to management, and increment of innovation within the project were the key findings that occurred after the application of well-executed stakeholder management approaches. Project success can be achieved through collaboration of strong project heads with other project team members; thus, when selecting or recruiting employees for a construction project, it should always be assigned well-qualified, well-experienced project heads and other staff members