Project management Essay Example | Topics and Well Written Essays - 1500 words - 14

Project management - Essay Example In addition, the paper will also evaluate current issues prevailing in project management and real instances in order to assess role of stakeholders in management of different types of projects. Project stakeholders are a group of individuals who has positive or negative interest in a project, which in turn affect functionality of the project. In general, interests and attitudes of individuals can be dissimilar towards a project. In any project, the primary stakeholders include: Since different stakeholders have separate set of interest in a project, their influence differs across various groups or individuals. However, every stakeholder is important for a project and one should understand their level of interest in the project as this affects success or failure. Moreover, it is the stakeholders who judge performance of a project, instead of project team and manager (Kerzner, 2013). Considering the role of stakeholders, it is crucial that their priorities, need, influence and interest are thoroughly analysed. The analysis results in better understanding of important stakeholders and development of appropriate communication strategy for stakeholder management. One of the important tools is stakeholder mapping, where key stakeholders are identified and categorised as per their interest and influence (Newcombe, 2003). A decade ago, stakeholder management was an area, which drew least amount of attention and was hardly considered in any sort of project development. Yet, growing complexity in the project management area has resulted in consideration of stakeholders as critical element of projects. There are internal as well as external stakeholders and they differ on grounds of project scope, geographical location and external environment of the project. It is a difficult task to manage the stakeholders and requires continuous involvement of project members such as, managers, for continuous improvement in relationship and building mutual trust (Pan, 2005). An