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Project Management Stakeholder Analysis N. Agilan.

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Presentation on theme: "Project Management Stakeholder Analysis N. Agilan."— Presentation transcript:

1 Project Management Stakeholder Analysis N. Agilan

2 Content of the presentation Project, Project Management, Significance Project life cycle Project constraints Feasibility analysis Stakeholders and Stakeholder Management Stakeholder Mapping

3 Road Network Improvement Projects – Sri Lanka Before ConstructionAfter Completion

4 Katunayake Expressway Project

5 Mattala Rajapakse International Airport Project

6 What is a Project? ‘ A project is a temporary endeavour undertaken to create a unique product, service, or result.’ Project Management Institute (2008) ‘ A project is a complex, nonroutine, one-time effort limited by time, budget, resources, and performance specifications designed to meet customer needs’. Gray et al (2010: 3)

7 Characteristics of a project An established objective A defined life span with a beginning and an end The involvement of several departments and professionals Typically, doing something that has never been done before Specific time, cost, and performance requirements Gray et al (2010: 3)

8 Project Vs Routine Activities How do you differentiate a project from a routine activity? Explain using appropriate examples. Taking class notes and Writing an end semester examination paper Entering sales receipts into the accounting ledger and Setting up an accounting information system

9 Project Management ‘A systematic process used to initiate, plan, execute, control, and close a project to meet defined objectives.’ ‘ A Science and an Art’ Mulcahy (2006: 9)

10 Importance of Project Management Compression of product life cycle (high-tech product development) Global competition (Demand for cheaper and better products) Knowledge explosion Increased customer focus (Development of customized products and services)

11 Impact of variables on project Project Time Degree Low High Cost of Changes Stakeholder influence, Risk, Uncertainty Project Management Institute (2008)

12 Project Life Cycle - Stages 1.Project Initiation 2. Project Planning 3.Project Execution 4.Project Monitoring & Controlling 5. Project Closing

13 Initiation Phase Select a project manager Collect procedures and historical information Identify stakeholders Document business need Determine project objectives Develop project charter Develop preliminary project scope statement

14 Planning Phase Create project scope statement Determine Team Create Work Breakdown Structure (WBS) Create activity list Create Network diagram Estimate resource requirements, time, cost Risk identification Determine performance measurement baselines

15 Executing Phase Acquire final team Execute the PM plan Send and receive information Continuous improvement Follow processes Team building Hold progress meetings Give recognition and rewards

16 Monitoring and Controlling phase Measure against the performance measurement baselines Measure according to the management plans Determine variances Scope verification Recommend changes Risk audits Measure team member performance

17 Closing Phase Develop closure procedures Complete contract closure Confirm work is done to requirements Final performance reporting Update lessons learned (knowledge base) Hand off completed product

18 Triple Constraint Cost Scope Quality Customer Satisfaction Risk Time Adapted from: Mulcahy (2006: 15)

19 Triple Constraint Scope – Scope describes what the organization expects to deliver to the customer/client when the project is complete. Risk – Events that can affect the project for better or worse (Opportunities or Threats)

20 Importance of Feasibility Analysis Financial Feasibility (Cost- Benefit Analysis) Financial Feasibility (Cost- Benefit Analysis) Ecological Feasibility Social Feasibility Technical Feasibility

21 Stakeholders Freeman (1984)

22 Stakeholders ‘Stakeholders are persons or organizations who are actively involved in the project or whose interests may be positively or negatively affected by the performance or completion of the project.’ Project Management Institute (2008)

23 Discussion ‘Identifying stakeholders and understanding their relative degree of influence on a project is critical to minimize adverse impact on the project objectives.’ Discuss

24 Customers and Users Customers – Customers refer to the entity acquiring the project’s product Users – Users refer to those who will directly utilize the project’s product. Customers/users may be internal and/or external to the performing organization. Project Management Institute (2008)

25 Project Sponsor ‘A sponsor is the person or group that provides the financial resources, in cash or in kind, for the project. When the project is first conceived, the sponsor champions the project’. Project Management Institute (2008)

26 Stakeholder Theory Wealth is created, captured and distributed by a variety of stakeholders. Managing the expectations and needs of diverse stakeholders is of paramount importance Organizations should not try to fulfill only the expectations of ‘shareholders’ alone.

27 Stakeholder Management Identify All Possible Stakeholders Prioritize Stakeholders (Stakeholder Matrix) Develop Stakeholder Engagement Strategy Bourne and Walker (2006)

28 Stakeholder Analysis: Stakeholder Mapping AB C D Minimal Effort Keep Informed Key Players Keep Satisfied Level of InterestLow High Power Low High Mendelow (1991)

29 Stakeholder Management using the Stakeholder Mapping Process Step 01: Identify all possible stakeholders Step 02: Locate each stakeholder in the appropriate quadrant (The current situation) Step 03: Rearrange the stakeholders in the matrix the way organization prefers them to be and develop strategies to address each (The preferred situation).

30 Summary Project and its characteristics Projects Vs routine activities Project Management & Cycle Stakeholders and Stakeholder Management

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