Managing Stakeholders' Commercial Interests vs. Political Interests

This week's topic focuses on managing stakeholders' commercial interests versus their political interests. The text explores methods of identifying and reconciling inconsistent objectives and drivers with key stakeholders. It discusses the range of stakeholder commercial interest and how it relates to taxonomy, as well as the importance of governmental policies and the NCTP concept in commercial negotiation. The text also provides insights into new ideas and strategies from the project life cycle-based perspective and iron triangle.

(Insert Student Name) / (Insert Student Number) - PPMP20011 Portfolio Template for Week 4
PPMP20011 Portfolio Template – Week 4
Description of
topics including
reading samples
Learning
outcomes of the
unit
assignments Supporting
documentation
including your
prior learning
Week 4 Topic:
Managing
Stakeholders'
Commercial Interests
vs. Stakeholders'
Political Interests.
Collaborative Project
Procurement
Arrangements
(2015) by Derek H. T.
Walker and Beverly
M. Lloyd Walker;
4. Explain and apply
methods of
identifying and
reconciling
inconsistent and
conflicting objectives
and drivers that
develop, maintain,
mange relationships
and communication
with key
stakeholders.
I have analyzed that range of stakeholder commercial interest is related with
taxonomy. It is found that taxonomy is one of the products centric within the
broad categories of the stakeholders.
On the other hand, I have identified that the stakeholders generally have
interest in politics. It is found that for the business as well as managers who are
mainly interested within politics does not include taxonomy.
I have analyzed that after comparing both the commercial as well as political
factors, it is identified that commercial factors generally include markets, local
economy as well as other general considerations. On the other hand, it is found
that generally affect the business are often considered to be important. Several
numbers of governmental policies are important which generally can be helpful
in affecting the entire business.
I have identified that the procurement negotiation is generally dependent on
novelty, complexity as well as pace and technology. In addition to this, I have
identified that with the help of NCTP concept, there are number of ideas as well
as practices that are associated with commercial negotiation. It is found that
with the help of NCTP concept, one can be able to know about the technology,
pace, novelty as well as complexity and it is reflected with the help of the
diamond perspective. Moreover, it is found that the four quadrants that are
generally provided helps in reflecting on the Turner and Cochrane Four-
quadrant Perspective. Furthermore, it is found that number of ideas as well as
information are generally gained with the help of identity perspective. I have
analyzed that identity perspective generally reflects on the process through
which number of people generally reach the agreements in context to their
relationship. Moreover, I have identified that product service perspectives
generally make much more sense. Additionally, new ideas are generally gained
from the complex product service related perspectives for various ideas of
practice around the different commercial negotiation.
PPMP20011 Unit Profile
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Have you any insights
you can add from other
units you have studies or
readings you’ve made?
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(Insert Student Name) / (Insert Student Number) - PPMP20011 Portfolio Template for Week 4
Description of
topics including
reading samples
Learning
outcomes of the
unit
assignments Supporting
documentation
including your
prior learning
Yes, according to me, the project life cycle-based perspective generally helps in
making much more sense. It is found that there are number of ideas as well as
strategies that are generally gained from the project life cycle perspective
concept in context to the commercial negotiation. It is found that the new ideas
that are generally identified by me includes information about the various
phases which are needed to be carry out in order to execute the project quite
successfully.
In addition to this, iron triangle that is provided helps in making proper sense. It
generally reflects on the various performance implications including the triple
bottom implications, balanced scorecard as well as other types of implications
which are very much important as well as necessary. Moreover, it is found that
number of ideas are generally gained from the perspective of iron triangle. The
significant perspective that are generally gained include the performance
indicators that are needed for the success of the project. Performance indicators
are considered to be quite important for the success of the project and it further
helps in ensuring that all the goals as well as objectives of the project are
achieved.
References
Anbari F.T., Giammalvo P., Jaffe P., Letavec C., and Merchant R. (Date Unknown) “The Chunnel Project”. PMI Case Studies in Project Management.
http://www.pmi.org/~/media/PDF/Academic/case%20studies/Chunnel%20Project.ashx Visited …. /…/…
Kerzner H. 2013. Project Management: A Systems Approach to Planning, Scheduling, and Control, 11th Edition. Hoboken, USA: John Wiley & Sons.
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Peña-Mora F., and Tamaki T. 2001. "Effect of Delivery Systems on Collaborative Negotiations for Large -Scale Infrastructure Projects”. Journal of
Management in Engineering. April 2001 pp.105-121
PMI. 2013a. A Guide to the Project Management Body of Knowledge (PMBOK Guide) 5th Edition. USA: Project Management Institute.
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