Presentation on theme: "Project Management Group F201 Project Overview Project involves launching a new site for The Gym Group PLC Located around Oxford Road, Manchester."— Presentation transcript:
Project Overview Project involves launching a new site for The Gym Group PLC Located around Oxford Road, Manchester One of the fastest growing companies in the UK Sunday Times Fast Track 100 (2012), #13 15 th best small UK Company to work for Sunday Times Best Small Companies (2013) http://www.thegymgroup.com/about-us/the-gyms-history/
Stakeholder Analysis Models Power Interest ModelPower, Legitimacy & Urgency Model Mitchell, R. K., B. R. Agle, and D.J. Wood. (1997). "Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of Who and What really Counts." in: Academy of Management Review 22(4): 853 - 888. http://www.mindtools.com/stress/pp/StakeholderManagement.htm
Overview of Stakeholders Stakeholders are anyone that represents an interest in the business Can be both internal and external For Example: Shareholders Employees The Universities Suppliers Manchester City Council Residents Local Businesses
Customers External Stakeholders Local Residents of neighbouring areas City Centre Ardwick Longsight Hulme Fallowfield Salford Student population included Large student population in the area, 2 University Campus’ locally Oxford Road location opens up bus/rail/cycle links
Customers External Stakeholders Represent a high interest in the project, but low power Hence, it’s correct to keep this stakeholder informed on the progression and development of the project Communication vital to keep customer informed. Update them of all major progress as and when it happens Confirmed opening dates Gym membership prices (if not included in existing multi-gym memberships) Equipment information.
Customers External Stakeholders Dependent stakeholder High legitimacy, some urgency, no power. E.g. Customers awaiting the opening so they can begin training at the site. Stakeholder is directly influenced by the outcome of the project.
Local Businesses External Stakeholders Local businesses, irrespective of business size Corporate membership prices/packages Boost to local economy and customer traffic
Local Businesses External Stakeholders Again, local businesses will show a high interest in the project, but will have low power Keeping businesses informed via suitable communication methods E-mails, newsletters etc. Regular correspondence required Take on board feedback as not doing so can have a detrimental effect on the project.
Local Businesses External Stakeholders Discretionary Stakeholder High legitimacy, no power or urgency Build up their participation in the project Build momentum – explain benefits and potential Indirectly influenced by the project
Shareholders Internal Stakeholders Shareholders have a large financial impact on the outcome of the project. They require comprehensive information about the project, communicated via the Annual General Meeting, or through Shareholder correspondence (letter/e-mail etc.) Not all shareholders may support the project Manage these individually
Shareholders Internal Stakeholders Low interest in the project, but with a high degree of power Taking into consideration other expansion projects across The Gym Group PLC Ensure that shareholders are satisfied with the project. http://www.thegymgroup.com/find-a-gym/
Shareholders Internal Stakeholders Dominant Stakeholder High power and legitimacy, but no urgency Keep shareholders informed in important decisions and issues through suitable communications methods Respond to shareholders if queries are raised and feedback given. Directly influenced in the outcome of the project Share price increase/decrease depending on the outcome http://www.thegymgroup.com/find-a-gym/
Employees Internal Stakeholders Employees represent a high emotional interest in the project outcome Employees depend on the project being successful Motivated to ensure it’s a success Job satisfaction Promotion Bonuses Employees have an operational influence on the project during and after completion
Employees Internal Stakeholders Employees represent a high interest in the project, with a low/medium degree of power Lack of employees means possible delays in project completion Employees need to me managed closely within the project and by the company Training requirements Start dates confirmed Timely, regular and efficient communication Shift patterns built in to ensure cover for peak times Employees need to be satisfied with all the above prior to the project completion http://www.thegymgroup.com/find-a-gym/
Employees Internal Stakeholders Dependent Stakeholder High legitimacy, and urgency, but a low/medium degree of power over the project Any information and issues regarding the project will need to be updated to employees on a high-priority basis. Employees needs to be kept involved and managed, responding to queries and feedback when required. Employees operationally involved in the project both during and after completion Exert a varying degree of control over the success of the project http://www.thegymgroup.com/find-a-gym/