PPMP20011 Unit Portfolio: Managing Stakeholder Commercial Interests

This portfolio focuses on the critical aspects of stakeholder management and negotiation within project management, particularly differentiating between stakeholders' commercial and political interests. It emphasizes the importance of understanding various project negotiation methods, conflict ...Read More

(Insert Student Name) / (Insert Student Number) - PPMP20011Unit Portfolio for Week 4
Weekly Portfolio Learning Table
Description of
topics including
reading samples
Learning
outcomes of the
unit
Learnings from your experience, this and prior unit
reading, 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;
3. Differentiate
methods of project
negotiation, conflict
management, and
stakeholder
engagement across
projects consisting of
differing technology
standards and asset
lifecycles.
This week’s learning has provided me an idea about the importance of the
stakeholders in a project. There are different factors of stakeholders’
management.
Political stakeholders mainly relate to the government bodies associated with
the project and commercial stakeholders relates to those stakeholders who will
be benefited by the project monetarily.
Are any of the
activities above
relevant to your
reflections for the
learning outcomes
on the right?
4. Explain and apply
methods of
identifying and
reconciling
inconsistent and
conflicting objectives
and drivers that
develop, maintain,
This weeks’ learning has helped me in understanding the different processes of
negotiation on basis of project requirements and complexities. I have gained the
knowledge of four quadrant perspective that has a huge impact on the project
negotiation process. Proper project procurement is essential for managing the
relationship and the communication with the project stakeholders.
In case of complex projects, it is essential to understand and identify the project
requirements and complexities in order to mitigate them.
Beringer, C., Jonas, D.
and Kock, A., 2013.
Behavior of internal
stakeholders in project
portfolio management
and its impact on
success. International
Journal of Project
Management, 31(6),
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(Insert Student Name) / (Insert Student Number) - PPMP20011Unit Portfolio for Week 4
Description of
topics including
reading samples
Learning
outcomes of the
unit
Learnings from your experience, this and prior unit
reading, assignments
Supporting
documentation
including your
prior learning
mange relationships
and communication
with key
stakeholders.
pp.830-846.
Are any of the
activities above
relevant to your
reflections for the
learning outcomes
on the right?
5. Explain the
consequences of
project delays,
disruptions, and
changes to planned
activities and the
methods for claims
variations, liquidated
damages, contract
entitlements, and
arbitration.
This week learning has further helped in identifying the different ideas behind a
project negotiation and the stakeholders’ interest in the project negotiation.
Having a proper knowledge about this is essential to eliminate the risks such as
project delays, disruption and project plan.
Are any of the
activities above
relevant to your
reflections for the
learning outcomes
on the right?
6. Evaluate project
management tools
that help avoid or
provide conflict
resolution via
negotiated solutions.
Therefore, it can be concluded that both the types of stakeholders are an
integral part of project life cycle. This weeks’ learning definitely relates to the
learning of previous weeks where we were provided with the idea of negotiation
and procurement.
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(Insert Student Name) / (Insert Student Number) - PPMP20011Unit Portfolio for Week 4
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.
Peña-Mora F., and Tamaki T. 2001. "Effect of Delivery Systems on Collaborative Negotiations for Large -Scale Infrastructure Projects”. Journal of
Management in Engineering. Vol:April 2001 pp.105-121
PMI. 2013a.A Guide to the Project Management Body of Knowledge (PMBOK Guide) 5th Edition. USA: Project Management Institute.
Beringer, C., Jonas, D. and Kock, A., 2013. Behavior of internal stakeholders in project portfolio management and its impact on success. International Journal
of Project Management, 31(6), pp.830-846.
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