The Impact of Stakeholder’s Participation in Project Planning and Performance Assignment Help

The Impact of Stakeholder’s participation on Project planning and performance.

A Stakeholder plays a very vital role in planning and performance of a project, they have a very powerful influence in determining the performance of a project and which my reason for choosing this topic.

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1.0 Introduction

The stakeholders play the most important role to set up the objectives and priorities of the project management report. It is important for all the stakeholders to be involved in the development of the project management report to gain benefits in the project. Priorities are very important to gain satisfying the stakeholders' interests and need to design the project. In this assignment, the researcher will provide a literature review for the topic "The Impact of Stakeholder's participation in Project planning and performance".\

2.0 Research Objectives

The following research objectives will be addressed in the course of the research:
1. To view and examine how stakeholders participate in project initiation and planning
2. View and examine stakeholder's' roles in project implementation and performance.
3. Explain the stakeholder's role in project monitoring and evaluation
4. To understand the influence stakeholder's, have in project overall life cycle.

3.0 Research questions

The research question that are needs to be addressed are:
1. How and why stakeholders participate in project initiation and planning?
2. Does their participation in project planning have any effect on project performance?
3. How and why they should be part of the monitoring and evaluation of project performance?
4. How stakeholders utilize their time to meet the necessities of their respective clients?

4.0 Types of Project stakeholder and role of stakeholders

The project stakeholders are mainly divided into two types involved in the project and they are external stakeholders and internal stakeholders. As said by Kerzner (2017), the internal stakeholders are internal customer or client, sponsor, project team, management, portfolio manager and team manager of the company. The external stakeholders who are not being involved directly in the project but engaged from outside that affect the project outcome. The external stakeholders are the supplier, end user, client, local communities, media, and government.

The role of the project stakeholders are as follows:

• Sponsor: The group or person provides support and supplies for the project who are liable to gain success on the completion of the project by assistance.
• Customers and its users: The organizations or people who approve the final outcome of the project, service and product.
• Sellers:The vendors are all the external stakeholders who enter into the contractual agreement for providing resources or services important for the relative project.
• Business partners: Part of the external stakeholders who have special partnership or relationship with the enterprise who are part of the project.
• Organizational groups: The mainly falls under the internal stakeholders who influences the project team like marketing, managing project team members etc..
• Functional managers: They play the most important role for management in the functional or administrative area of the business.
• Other stakeholders: The additional stakeholders include government regulators, consultant, financial institutions and others who wants to gain a financial interest in the present project by contributing some work.

5.0 Significance and importance of the project research

It is to study this project topic because the stakeholder is mainly the organization, individual or group who are being affected by or perceived itself by a particular activity, outcome of the project or decision. In the project management they are directly involved with the project or have separate interest gets affected by the outcome of the project. The main members of the stakeholders project managers, executives, project sponsors, users or customers. As said by Mir & Pinnington (2014), it is crucial and beneficial to know about the good stakeholders who very good communication management skills so that all the stakeholders can collaborate with the project constantly to provide a positive effect on the relative product. In project management, all the stakeholders have different needs and expectation during the initiation and progress of the project. All the business organization needs to treat all the stakeholders in unique according to their requirements otherwise the whole project quality will get deported if all the stakeholders are not being involved in the project management.

For this reason, the chosen project research study is highly crucial for all the organization to understand the overall impact of the stakeholders' participation in the project performance and planning. The involvement of the stakeholders is very important during the time of the project planning because the project planning will be successful if all the demands and requirements of the stakeholders are being fulfilled by the relative business organization. As said by Marchewka (2014), in the business organization or project management, the stakeholders always play the central role for setting up all the objectives and priorities to ensure the project is the complete inappropriate way. Finding out the characteristics of the stakeholders by the head of the organization will help to attribute the responsibilities and roles of the stakeholders. As said by Too & Weaver (2014), with the help of attribute roles and responsibilities, no conflict will arise among the stakeholders that will hamper the progress of the project. The power and influence of the stakeholders are also highly affected. The power mainly refers to the ability or role of the stakeholders that could affect the total implementation of the project due to their force or strength.

6.0 Limitation of the project research

The main limitation of the project that could rise is the limitation of the resource, finance and time to complete the project successfully. The requirement of time and resources is very important to complete the project more thoroughly. Another limitation of the project research is the formulation of the right aims and objectives for the project reach because if the objective of the project is wrong then the outcome of the project will not be so satisfactory. As said by Milosevic & Martinelli (2016), the right implementation of the data collection is crucial because there can be participants who will provide the wrong answers in the survey or interview. There will be other participants who will not the response to any of the answers provided in the survey or did not participate in the data collection process.

7.0 Concept of stakeholder's participation

The stakeholders' applications are the common involvement and sharing of the decision-making process for the initiation and completion of the related project. The participation of the stakeholders mainly leads to joint ownership and empowerment of the chosen project research. For increasing the stakeholders' participation in the project for initiating a consultation process who moves to the joint decisions and negotiation process. The stakeholder's participation always helps to ensure all the project plans are the reflection of the real priorities and needs to gain positive outcome in the final completion of the project. As said by Joslin & Müller (2015),with the help of stakeholders' participation, it promotes the transparency for providing actions to the project and always ensures that the project is highly accountable for relative actions that had been taken for the project. The participation of the stakeholders sometimes requires more amount of resources and time which is highly difficult to implement.

Stakeholder participation is important when there is a proactive engagement that will help the stakeholders to avoid any kind of problems related to project management. As said by Todorovic et al. (2015), stakeholder participation is one of the key factors for corporate social responsibility and also helps to achieve the triple bottom line. Every company were being engaged by the stakeholders helps to find out the related economic, environmental and social issues related to the project so that they can able to improve their planning process and decision-making process.

8.0 Concept of project performance

Measuring the performance of the project is very crucial to gain a positive outcome at the end of the project which is highly crucial. The optimal performances are actually the achievement of multiple or conflicting objectives under relative changing conditions in the project management. The project performance is mainly the measurement of the performance to understand how things are going even there is a presence of problems that could get in the way for the achievement of creative tasks and objectives. As said by Hornstein (2015), all the project has a separate completion and ends time which is closely linked to all the relative business objectives that provide the main initiation of the project for future purposes.

Tracking of the resource time and budget is one of the major indicators for the organizations to understand how the company is performing to complete the provided project or in what way the projects are expected to perform by the employees. Assessment of the project schedule and budget will help to indicate whether the team is meeting all the needs or requirements of the stakeholder's expectations for the relative project. Assessing all the relative degrees through which all the project were being tracked is another performance indicator for the relative project. Any kind of bad causes related to the project could include loss of resources, poor estimation, underperforming resources, price changes and accepting all the relative things for remediating all the problems that had been identified. As said by Marcelino-Sádaba et al. (2014), for measuring the performance more effectively it is important to plan the tasks according to the specified deliverables by stating all the requirements clearly. There are other indicators in the project management report through which the researcher can able to measure the performance of the project report like identifying the defects in the project, conflict among the stakeholders and other related problems to the project.

9.0 Importance of stakeholder participation in project planning and development

All the project stakeholders have a separate interest to gain the final outcome of the provided research project. The project sponsor of the project management provides assistance for paying bills and has a signing off authority in the chosen research project. The primary customers of the project management are the primary users of the project outcome and can request for any kind of changes that are required in the project. There are secondary customers in the project who work both outside and inside the organization to gain benefit from the project and interacting with the relative project. The project team is the team who will carry out the main project properly. The primary stakeholders of the project management are those who are truly involved in the completion of the project in the given timeframe. As said by Conforto et al. (2014), other relative stakeholders would have a short amount of involvement in the project who are being limited to some particular aspects of the project who utilizes the role for completion of the small tasks or activities related to the project. The stakeholders will able to understand the situation or risk of the project far more better and the situation could look quite different when it is being from different perspectives.

Sharing crucial information with the team is important because gaining ideas from other stakeholders will provide real-time solutions related to the project. The stakeholders had different levels of authority and duties for the contribution of the project and level could differ the proceeding of the project. Some of the stakeholders detract from the success of the project either passively or actively. Stakeholder identification is one of the most continuous processes to gain the entire project life cycle. As said by Špundak (2014), understand the effect of the project and satisfaction of the expectations, needs, and demands are very important for the completion of the project. The stakeholder could affect objectives of the project either negatively or positively where the project could be perceived to gain either negative or positive results. The most essential responsibilities of the project manager to manage the expectations or demands of the stakeholders.

10.0 Project Risk and Management

The project risk management is mainly the process for analyzing and identifying the risk that could arise in the lifecycle of the project to help all the project are being remained on track and meet their desired objectives and goals. For this reason, the planning process is very important for figuring out all the related risk that could arise during the progress of the project. The risk could potentially impact the project's budget, performance or timeline. As said by Svejvig & Andersen (2015), the risks in the project are mainly the potentialities in the project management that needs to be avoided by the project team because if the risk arises in reality then the whole project will get hampered very badly. For example - breach of data is very problematic because all the confidential information related to the client, project details and projects could be leaked outside the organization. Loss of data will cause a huge amount of problem in the progress of the report and there are huge changes that the project will get canceled at the end.

11.0 Conclusion

From the overall analysis of the assignment, it could be found out that project research provides understanding to be associated with all the sensitive stakeholders and all the conflicts need to be avoided. The planner will provide the first overview of the important stakeholder groups and related problems to deal with facilitates planning. The performance measurement for the project management and projects outlines the system to measure the project performance related to the schedule. The project performance identifies the systems key components, elements and explains for evaluating project performance. The process of measuring the project management performance to define the project management to identify the fundamental functions like control, execute and plan. The stakeholder plays the most crucial role in the business organization to gain success in the business. Stakeholder management is highly crucial to gain effective project relationship to identify all the communication needs.

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