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Project Stakeholders Management

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Added on  2020-10-04

Project Stakeholders Management

   Added on 2020-10-04

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PROJECTSTAKEHOLDERSMANAGEMENT
Project Stakeholders Management_1
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY ..................................................................................................................................1a) Management of stakeholders in projects............................................................................1b) Support discussion with stakeholders and other management theories.............................2c) Select a case study and describe it as stakeholders issue...................................................5d) Model for stakeholder engagement in project management..............................................5CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
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INTRODUCTIONStakeholder management is defined as a systematic engagement, analysis, identificationand implementation of actions which are designed to have proper engagement with stakeholders.Stakeholders are those individuals which have interest in a project, portfolio, program orbusiness activities of a company as outcome of these aspects impacts them in a considerablemanner (Bourne, 2016). Different projects and program posses a variety of stakeholders whichhave varied interest. This assignment is based on Prezzo which is a UK based Italian Cuisinerestaurant, situated in London. This report will cover management of stakeholders withinprojects along with discussion of stakeholders and other management theory. Stakeholders issuein context with business is discussed and a model is prepared for stakeholder engagement. MAIN BODY a) Management of stakeholders in projectsA project is considered as a successful activity when it meets the expectations of differentstakeholders. A project can be any business activity which is performed by an organisation inorder to attain expected outcomes. Stakeholders are those persons which posses a vested interestin the business activities of an organisation. In case of Prezzo, which is an Italian restaurant inUK, potential stakeholders will be customers, government, local residents, suppliers, employees,competitors, local residents etc. Company is working on a project where new chain of restaurantwill be established in England. There are some steps that can be considered by the manager inPrezzo so that all stakeholders can be managed in an efficient manner. Some of these steps arementioned below:Identification of all stakeholders in the beginning of business activity or project. If theywill not be identified in the starting, then their different agendas can impacts the workingof Prezzo in a negative manner (Chih and Zwikael, 2015). In case of Prezzo, internalpotential stakeholders are employees, executive and management of company whereasexternal stakeholders includes customers, suppliers, creditors, local community and thegovernment. In order to achieve success, company is required to meet expectations andinterest of all stakeholders.Another way is to assure that all stakeholders must agree on business project and theirdeliverables. In case all stakeholders will not agree, Prezzo will be required to carry out1
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