Effective Stakeholder Engagement: A Tool for Project Success
This article provides strategies for identifying and managing stakeholders who are influential and have the ability to make a powerful impact on the outcome of projects. Effective stakeholder management performed by project managers helps to reduce project risks, improve cost effectiveness, and avoid time overruns. In complex infrastructure projects, external stakeholders are generally the most influential group due to land acquisition problems, right of way issues, environmental issues, and government regulations and policies.
With the help of infrastructure project case studies, this article intends to cover various aspects of stakeholder management such as stakeholder identification and analysis, engagement of stakeholders at different stages of a project, and continuous dynamic analysis of the expectations of stakeholders during project execution to attain goals and achieve success. Efforts have been made to elaborate on the various challenges in managing external stakeholders in the infrastructure sector with specific references to construction projects, as well as the tools to help find solutions to address the various issues affecting stakeholder management.
“Every business creates, and sometimes destroys, value for customers, suppliers, employees, communities, and financiers. The idea that business is about maximizing profits for
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