Impact of Stakeholder Management on Construction Industry

Impact of Stakeholder Management on Construction Industry1.0 Introduction/BackgroundProject management is an evolving discipline which is relatively in the raw in both practice and academics hence association is drawn from other disciplines to further advance both possible action and practice in managing nominates. Consequently this question give draw from different academic disciplines for its theory and the construction industry for its practice.To this end a take to could be described as a dodging use by fundamental laws to achieve its strategic goal, the strategy could be suggested to have a start and an end date (Turner 2009 p.20 Holton 2002 p.10-2). It could also be suggested that the word organisation in the above definition by Turner 2009 could be called the bug out stakeholder. Olanda and Landin (2005 p.321) defined learn stakeholders as a group of people who have a vested interest in the success of a job and the environment at heart which the retch operates.Th is look for is focused on investigating the impact of stakeholder management and its theatrical role to final cause success in the construction industry. It could be suggested that the use of PMs life cycle phases be adopted for the entire project plan as seen in figure 1 below.Figure -Project LifecycleThe project initiation phase of this circulate give include proposing a project research topic, assigning a project supervisor or project sponsor and proposing a research plan. While the project planning phase forget include reviewing of the available project materials and the execution phase allow for involve writing up the literature review and project methodology. Handover and closeout will involve submitting the final report to supervisor and destine of Msc degree in Project Management. Lessons learnt could be suggested to be the feedback and experience gained in during the research.1.2 Project scopeProject Context could be suggested to be the pose in which a project is carried out (ApmBok 2009). In relation to the above description, the charter of this research is in agreement with the above suggestion (Achterkamp and Vis 2008 pg 749).1.3 Project precept1.3.1 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 justify the need to investigate the impact of stakeholder management and its contribution to project success in the construction industry and also fulfil the academic urgency 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 climate will bell the or ganization 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 pecuniary burden.1.3.3 Personal RationaleIt could be suggested that as a project management professional, embarking on this research will help one better understand the principles of stakeholder management. The knowledge gained from this research will clarify 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 correlate a relationship in the midst of stakeholder management and project success.To put up a strategy for measuring the impact of stakeholder management thereby assessing its impact on project success.To make recom mendations for improved stakeholder management practices.1.4.2 Project Scope correspond to Burke (2003 p. 104) project scope identifies when a project has been successfully completed at bottom specified requirement. The scope for this project will involve activities such 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 outcome of the report at every stage of the lifecycle (ApmBok 2009 p.135). The deliverables as shown in Table 1 are generalise and subject to being revised at the end of this report.Table Project deliverablesDeliverablesDescriptionProject Research PlanIntroduction/ BackgroundProject Context and Project RationaleProject DefinitionProject ApproachResearch Project ScheduleResource Requirements Ethical Considerationslit ReviewResearch of theory and practice within the construction industryProject Approach or MethodologyIt involves the description of the process in the collection and evaluation of data 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, quality 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 involve by the sponsor to complete the report.Combining three live projects at the same period. i.e. CPD, Group placement and dissertati on.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) described project stakeholders as people that their interest could usurp the outcome of the project art object 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 arouse 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 between 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 win over 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 reasonable in that all agreed that stakeholders are made 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 fruit adds value to the client, considering the cost to the client at the point of acceptanceWhile there is no definite definition to what project success is or what will be the best way to define success, this report would look into critical success criteria used in the construction industry to determine when a project is successful. T he 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-fashioned data or expansion of existing theories in project management body of knowledge. This could be achieved by using the following 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 secondary research, a qualitative 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 forfend any misrepresentation or distortion of data collected.All information used for this research was adequately referenced to avoid plagiarism.This report was written with due respect for the subject and authorsAll information used for this report is in line with universities academic guidelines.Sekaran ( 2000, p.261)1.7 Project Planning / underwrite 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 assign 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 Appendix 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 Requirement serviceman ResourcesDescriptionHoursResearcherResearcher would carry out a secondary research and prepare 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 Budget actBudgetSourceCost for Researcher and supervisor3000RGU and jockstrapPrinting of dissertation and buying of CD drives ( hard and soft copies)200Researcher and helper (in the case of a primary Research)Transport is Dependent on the location of the organisation and RGU libraryNot Determined at presentRe searcher and Sponsor1.8.1 Risk MatrixRisk management is a key area in APM and PMI bodies of knowledge projects are often associated with one form of risk 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 developing a risk plan which can be seen in Table 4