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Stakeholder Management in Construction Sector

Stakeholder Management is about relationships between an organization and their groups interested or stakeholders. These relationships impact on the individuals and their organizations, that could be positive, or have a negative influence on any successful project. Therefore the stakeholders from any project should be managed by the organizations with the outlook to minimize the negative impacts and make sure that there are no obstacles in the way of a successful project.

At the moment the stakeholder management is considered, at least in theory by the building construction sector, as important for their business as other areas, for example subcontracting, security or the environment.

The most formal sources, like Project Management Institute (2001) defines the stakeholders as: "individuals and organizations who are actively involved in the project, or whose interests may be positively or negatively affected as a result of project execution or successful project completion."

A more concise definition of the stakeholders would be: "those groups or individuals with whom the organization interacts or has interdependencies.any individual or group who can affect or is affected by the actions, decisions, policies, practices or goals of the organization". (Carroll, 1993).

The checklist of stakeholders in a construction project is often big and includes the owners and facility users, project management, team members, facilities managers, designers, shareholders, public administration, workers, subcontractors, services suppliers competitors, banks insurance companies, media, community representative, neighbors, general public, clients, regional development agencies, . Each one of these could influence in the course of the project at some time. Even though some could influence in the project more than often, the majority of whom will do so at a set time.

Stakeholder Management in Construction Sector

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