Stakeholders In A Construction Project

2942 Words6 Pages
bulb-icon

Recommended: Application of project management concepts

REAL LIFE LEAN-OWNER’S PERSPECTIVE IN A CONSTRUCTION PROJECT
INTRODUCTION
Who are the stakeholders in a construction process? According to McElroy and Mills (2000) project’s stakeholders are a person or a group of people who have a vested interest in the success of a project and the environment within which the project operates. Stakeholders in the construction industry can be classified as primary and secondary stakeholders. Client/ Owner, Contractor, Consultant, and PM who is directly connected to the project are primary stakeholders and secondary stakeholders are those who have indirect connection to the project who can either affect or be affected by the course of the project, like investors, suppliers, employees, sub-contractors, third-party, banks, governmental authorities, pressure groups, trade associations, and communities. (Malkat and Gyoo, 2012)
OWNER AS A STAKEHOLDER
From an owner’s perspective, his role in a construction project is associated with the entire life cycle of the building. An owner conceives a project to meet market demands, considers various alternatives to a design and analyze its feasibility. He arranges for the financing needs for the project. Once the project scope, detailed design documents and estimates are in place he works hand in hand with the contractors to oversee the construction process of the building. He plays a major role in planning and controlling material handling on the site. Finally, the owner is responsible of managing the building facility, from project completion until disposal of the facility. (Hendrickson, 1998)
According to CMAA, it is Owner’s responsibility to make an early and important decision about the project delivery method he wants to adopt. With the wealth of choices ...

... middle of paper ...

...ture project Initiation, financing, and execution,” McKinsey and company. , New York City, NY.
Construction Management Association of America. “An Owner’s Guide to Project Delivery Methods.” < https://cmaanet.org/files/Owners%20Guide%20to%20Project%20Delivery%20Methods%20Final.pdf> (Apr.20 2014)
Hendrickson, C. (1998). Project Management for Construction Fundamental Concepts for Owners, Engineers, Architects and Builders. Prentice hall, Pittsburgh, PA.
Malkat, M., and Gyoo, K.-B. (2012). “An Investigation on the Stakeholders of Construction Projects in Dubai and Adjacent Regions.” International Proceedings of Economics Development & Research, Dubai, UAE, Vol. 45, p77.

McElroy, B. and Mills, C., 2000, “Managing stakeholders” in: Turner, R.J. Sinister, S.J., (Eds), Gower handbook of project management 3rd ed., Gower Publishing Limited, Aldershot, UK, 757-75.

Show More
Related

  • Home Depot Case Study

    848 Words  | 2 Pages

    When determining whether this is a feasible project we need to take into consideration, which stakeholders could negatively be affected and what will The Home Depot do to minimize this impact. It is important that positive outcomes surpass negative outcomes, otherwise, this project will not succeed. The textbook states, “"The importance of aligning projects with organization strategy cannot be overstated.” This quotation means that above all, this project must relate to the mission strategy of the organization in order to maintain the interests of the stakeholders. Without stakeholders on board, this project would not be possible. The Home Depot’s actions in completing this project needs to be sensitive to any group that affects or can be affected because The Home Depot’s reputation is always being evaluated.

    Read More

  • Essay On Stakeholders In Homelessness

    451 Words  | 1 Pages

    Identifying stakeholders for an intervention is essential. Stakeholders are all of the individuals who are affected by and issue or problem (BOOK). The stakeholders are going to be the individuals who can work towards changing the problem and who deal with the concern at the front lines (BOOK).

    Read More

  • Tamworth Country Music Festival Stakeholders

    729 Words  | 2 Pages

    According to Carroll (2009), stakeholders are any individual or a group who are associated with an organization and has mutual influences. He also claims that the stakeholders can influence or be influenced by any actions, decisions, policies, and goals of the organization. Clarkson (1995) defines primary stakeholders as a group or an individual who has high level of independencies and play a essential role in the survival of the organization whereas secondary stakeholders also have interactivity with the organization; however, they are not participated in transactions and without them, the organization still can survive. From this classification, we can easily identify a range of different stakeholders as primary or secondary in terms of their

    Read More

  • The Importance Of Stakeholder Identification In Project Management

    1136 Words  | 3 Pages

    The importance of proper stakeholder identification is occasionally overlooked due to complacency or unhealthy business practices in project management. Failing to properly identify stakeholders is a perfect formula for disaster. According to the Project Management Body of Knowledge (PMBOK) (2013), identifying stakeholders is the method of recognizing any person or group that can influence, be influenced or seemingly influenced by the process and consequence of a project. Their interest and impact on the project are then examined and documented. Customers, societies, and benefactors are all considered stakeholders and they are actively involved in project activity (PMBOK, 2013).

    Read More

  • Applied Research Technologies, Inc.: Global Innovation Challenge Case Study

    1119 Words  | 3 Pages

    Frame, J.D., Managing Projects in Organizations: How to Make the Best use of Time, Techniques and People, third ed., San Francisco: Jossey-Bass,112-117, 2003.

    Read More

  • Construction Management Personal Statement

    760 Words  | 2 Pages

    This project took me through the history, training, and a day on the job. It could not have been a better experience, and this project proved that a career in construction management is a real possibility in the future. The history of construction management was not a shock, but it was a little bit of a reality check. It is common knowledge that the human race has been building things since the beginning of time, but what is extraordinary is to think about how far the world has come over the thousands of years. Men and women started living in small huts.

    Read More

  • Operations Management Metrics

    917 Words  | 2 Pages

    Gray, C., Larson, E. (2008). Project Management: The managerial Process. New York, NY: The McGraw-Hill Companies Inc.

    Read More

  • The Sydney Opera House

    3125 Words  | 7 Pages

    Ramroth, Jr., William G., 2006, Project Management for Design Professionals, . Chicago, Illinois : AEC Education.

    Read More

  • The Custom Woodworking Company Case Study

    2594 Words  | 6 Pages

    Project Management Institute (PMI) (2013). Project Management Professional (PMP) Handbook. [ONLINE] Available at: http://www.pmi.org/certification/~/media/pdf/certifications/pdc_pmphandbook.ashx. [Last Accessed 20 April 2014].

    Read More

  • Case Study Of Reson

    1078 Words  | 3 Pages

    Sometimes, the stakeholders of the projects have their own personal objectives which become a hindrance in carrying out the project successfully.

    Read More

  • FINANCIAL MANAGEMENT

    1058 Words  | 3 Pages

    Stakeholder analysis is important for successful implementation of projects and/or strategic activities within any organisation. It is used to analyse the stakeholders in order to understand them and classify them according to their power, influence and interest. Stakeholders are people who have an interest in a commercial entity including those within the organisation and outside. These include the boss, senior executives, customers, suppliers, government, your co-workers, the team and others. All these people are important in the implementation and success of strategy.

    Read More

  • Essay On Pestle Analysis Of Air India

    1232 Words  | 3 Pages

    Stakeholders’ analysis is the analysis which tells that how the company is dealing with the people which are directly or indirectly related with the company’s operations. These are called stakeholder and they include the employee, society, suppliers, buyers, shareholders, got and other tax related companies.

    Read More

  • Stakeholder Influence On Business

    1639 Words  | 4 Pages

    Not all the stakeholders have the same consideration, for example the manager will have more consideration than the customer. And the stakeholders can influence de business positively

    Read More

  • Pick n Pay Social Responsibility

    1343 Words  | 3 Pages

    Stakeholders refer to individuals or groups of people that have an interest in a business. Management argues that as long as there is wealth for shareholders, then anything is done in a responsible manner and things should be done to promote the interest of other stakeholders.

    Read More

  • What Is The Importance Of Project Management

    781 Words  | 2 Pages

    When planning a new project, how the project will be managed is one of the most important factors. The importance of a managers will determine the success of the project. The success of the project will be determined by how well it is managed. Project management is referred to as the discipline that entails the processes of carefully planning, organizing, controlling, and motivating the organization resources so as to foster and facilitate the achievement of specific established and desired goals and meet the specific criteria of success required in the organization (Larson, 2014). Over the course of this paper I will be discussing and analyzing the importance of project management.

    Read More

More about Stakeholders In A Construction Project

Open Document