Stakeholder Model In Project Management

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Question 1 (10 points) Stakeholder management is one important aspect of project management, especially in large projects where multiple stakeholders with different power, influence and interests are present. Identify two different stakeholder models used in academic literature and compare their underlying assumptions and relevance. In the article Project Management Models as Value Creators, Eskerod and Riis used a project management model. It shows and specifies the management breakdown structure, the management processes, and the roles in project management. Five companies were selected for the study. In all five companies, a specific department was chosen as a unit of analysis for the research project. Listed below is a description of all…show more content…
It is the result of mergers and acquisitions of a number of banks in Sweden, Denmark, Norway, and Finland. Company C is a Danish leader of an industrial group leader of an industrial group that develops and manufactures mechanical and electronic products (Eskerod & Riis 2008). Company D is one of the largest and oldest consulting firms in Denmark (Eskerod & Riis 2008). Lastly, company E is an international pharmaceutical group with headquarters in Denmark (Eskerod & Riis 2008). A broad range of research approaches have been applied (Thomas & Mullaly, 2004) including desk research about the organization and its record in project management implementation. One completed project file was analyzed in detail to understand actual project management practices, assess the evidence of compliance with stated policies and processes, and check on the results of both for the project performance. There were interviews that were conducted, and these interviews were used later to compare with data from surveys and other collected information. Both authors Eskerod and Östergren identified three driving forces behind implementing a common project model: efficiency, legitimacy, and power and control…show more content…
They use this given information to build a model of the stakeholder management process and explain how a relationship management approach can generate both a sense of group empowerment and project satisfaction. The task is to investigate the relationship management process in real estate and construction projects in both countries; to identify good practice in the management of stakeholders; to develop a framework within which to compare and contrast stakeholder management practices in Hong Kong with Australia etc. (Rowlinson & Cheung 2008). The authors used a triangulated approach using both qualitative and quantitative for the method. Semi-structured interviews, observation, document examination and case studies were used for this study. This approach allowed the researchers to explore the perception of a range of professionals in the construction industries of Hong Kong and Australia (Rowlinson & Cheung 2008). That being said, 15 independent variables were identified for further studies. A second study had to be conducted for qualitative studies in order to verify the quantitative study. Furthermore, the characteristics/variables which influence relationship management and project performance relatable in Hong Kong and Australia, their effects are different. Towards the final stage of

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