A Brief Note On The Stakeholder Management Process

1577 Words Sep 2nd, 2014 7 Pages
Introduction section
In any project, especially construction projects, there will be numerous parties that are affected by the project and/or interested in the project. These parties must be considered by the managers of the project and are referred to as stakeholders. Projects stakeholders can be defined as individuals and organisations who are actively involved in the project, or whose interests may be affected by the execution of the project or by a successful project (A Guide to the Project Management Body of Knowledge, PMI 2000). The stakeholder management process involves evaluating the needs and expectations of stakeholders in relation to the main objectives of the project. (Stefan Olander, 2007). Project stakeholders can be broken down into internal and external stakeholders. Internal stakeholders are considered to be those who are within the project or part of the project coalition. Parties that provide finance are also said to be internal stakeholders. External stakeholders are those who are affected by the project in a significant way (Calvert, 1995). All Stakeholders have needs and expectations that are to do with the project. Different stakeholders needs and expectations cause conflict with each other and it is unlikely that all stakeholders expectations will be met (McManus, 2002). Bourne & Walker (2005) stated that it is “very crucial” to address all stakeholders expectations throughout different stages of a project and that it is up to the project managers to…
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