Novel Approach to Satisfying Stakeholders in Megaprojects: Balancing Mutual Values (original) (raw)
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Stakeholder Value Constructs in Megaprojects: A Long-Term Assessment Case Study
Project Management Journal, 2017
By definition, megaprojects consume numerous resources and impact numerous people, even across generations; it is therefore important that they bring considerable value to their initiators and other stakeholders. Based on stakeholder value construct frameworks identified in the literature and a single case study of the construction and operations of an over 50-year-old American highway bridge, we identify ways to understand, classify, and express megaproject stakeholder value. The research links different stakeholder types to types of value constructs. Knowing which types of value constructs matter to different stakeholder types could potentially help project representatives communicate more efficiently and effectively.
The aim of this paper is to establish a framework to explore how stakeholders influence megaprojects using the paradigm of sustainability. The paper begins by reviewing the literature concerning stakeholders and sustainability in megaprojects. It then critically reflects on two frameworks that have been developed to map sustainability in megaprojects and examines their utility in understanding stakeholder impact in megaprojects. The paper concludes by proposing a framework based on sustainability and the results of this analysis whereby the interactions of megaprojects with stakeholders can be evaluated. Megaproject, sustainability, Authors have to provide a minimum of 4 and maximum of 6 keywords that best describe original content of the paper, alphabetically sorted and separated by semicolons To cite this paper: Burcar Dunović, I., Łukasiewicz, A., Brookes, N.J. (2014). In pursuit of a framework to explore stakeholder influence in megaproject through issues of sustainability,
Megaproject case studies: a stakeholder management perspective
2016
Megaprojects are projects characterized by significant investments attracting a high level of public attention or political interest because of substantial direct and indirect impacts on community, environment and budgets[1]. They are usually characterized by high technical, organizational and managerial complexity and involve a huge number of stakeholders with different interests [2]. The latter is one of the major challenge in megaproject management due to the complexity of stakeholders’ interrelationships and different interests. This paper presents an analysis on 20 megaproject case studies belonging to different sectors, such as the energy, the transports and public services. The purpose is to gather useful insights from the practice in order to understand better how to manage internal and external stakeholders in megaprojects. Keywords— Megaproject; stakeholder; project management; case study
Organization, Technology & Management in Construction: An International Journal, 2012
Project management value has moved from ideas of 'value management' to ideas of 'understanding how stakeholders value different things'. In line with this new paradigm, value in megaprojects is influenced by the complex morass of stakeholders involved. This paper explores how stakeholders engage with the megaproject delivery process and value creation. From extant literature, the author reviews the definition of megaprojects and discusses their characteristics. Value and stakeholder value was also discussed. It was proposed that internal stakeholders are concerned with the value from 'project management deployment' while external stakeholders are primarily concerned with the 'value from project outcome'. Using a framework, the relationship between external stakeholders and value from project outcome was argued for. Internal stakeholders and the relationship with value from project management deployment were also argued for. Hence, a Value framework that can be used to determine what value needs to be generated for internal and external stakeholders is proposed. Future research is discussed including the need to further develop this value framework to identify different internal and external stakeholder value across project life cycle and product life cycle.
A dimensional analysis of stakeholder assessment of project outcomes
Production Planning & Control
Driven by an interest in developing a deeper understanding of stakeholder interests, this study undertakes a dimensional analysis of how different stakeholders assess project outcomes. Most importantly, in our analysis, we take into consideration the largely unaccounted-for conceptual difference between project success and project failure. Data were collected over a two-year period (between 2013 and 2015) from 1631 project stakeholders in nine countries. We analysed the survey data using three-way Multidimensional Scaling. We found that most project stakeholders tend to be more specific in their assessment of project success than when assessing project failure. We also found that most stakeholders attached maximal and different levels of importance to different dimensions of project outcomes. In particular, we found that when assessing project "success", project stakeholders appear more focused on project effectiveness. On the other hand, when assessing project "failure", project stakeholders appear more focused on efficiency. Understanding how stakeholders assess and prioritise project outcomes is of particular interest to project managers as it enables them develop a clearer understanding of individual interests of various stakeholders. For stakeholders themselves, such an understanding helps limit possible disruptions to the project emanating from contesting decisions made by the project manager.
Over the years, the focus on value creation has shifted from hard, tangible economic benefits to the soft, intangible outcomes related to sustainability and broader social issues. Within the extant value creation literature, there are many perspectives on the concept of value and its generation; however there is a dearth of studies on value creation in a construction context. Through a systematic review of current literature and drawing from the stakeholder theory, this study examines the common approaches in value creation and proposes a framework to value creation for stakeholders in construction. In particular, the new framework conceptualizes two categories of value creation to construction firms and their projects: independent and co-creation. The main insights from this conceptual framework include: 1) value creation process is a strategic issue that needs to be addressed by organizations through resources exchange, information sharing, effective relational governance and continuous interactions; 2) projects, as vehicles for value creation in the construction industry, create value for stakeholders in the form of delivery outputs and overall outcomes; 3) relationships between stakeholders (i.e. transactional, cooperative and collaborative) are an effective way to maximize project value. Further research about value creation for stakeholders is essential to develop value creation theory in construction.
Stakeholder benefit assessment – Project success through management of stakeholders
This paper discusses how a project should deal with its internal and external stakeholders who are associated with determining the project's objectives and uncertainty issues. Our experiences during 15 years of uncertainty assessment in many different sectors show that stakeholders are subjective and influenced by the objectives or effects of the project more than expected. This paper focuses on the relationship between the stakeholders and opportunities. We conclude that projects to a little extent find opportunities because risk and opportunities processes not are separated. From our point of view, projects can find and exploit opportunities and benefits to a greater extend if they use a defined opportunity management process. This paper has four parts. Firstly, rationality and methodology are presented. The method that we adopt is of qualitative nature. In the second part, relevant theories are described. Part three presents our ideas about the connection between stakeholders and uncertainty. And finally, conclusion and a description of further research wind up the whole discussion.
Modern Applied Science, 2009
This paper provides an analysis of the process used to identify project stakeholders, the factors used to manage their needs and expectations, and the implications of mismanaging their needs and expectations in the development of Malaysian construction projects. A survey was conducted among four construction stakeholders comprising: the Government, private clients, consultants and contractors. In total, 93 respondents completed the questionnaire. A list of 4 major processes and 22 possible critical factors for managing the stakeholders' needs and expectations are identified, in order for the respondents to determine their level of importance. The Kruskal-Wallis test of One-way ANOVA (Analysis of variance) is used to examine the significant difference in opinion between the four groups at the 5% significance level.