Strategic Management of Housing Sector - Research Paper Example

The traditional project management theory does not utilize the stakeholder management process when undertaking strategic management planning, although most of the project management theories implicitly identify the need to develop strategies that address the needs of multiple groups or stakeholders. With the adoption of globalisation and liberalisation policies by most of the countries around the world, the nature and interest of stakeholders too changed. Now the stakeholders are not limited within the boundaries of the nation, but they’ve acquired an international stature.

While on the one hand, the companies have stakes in different countries, the government too looks upon the MNCs as an important strategic partner towards meeting their development goals. By understanding and applying stakeholder theory, the Project Manager should be able to develop more effective strategies. While there is extensive management literature examining stakeholder theory, there is little project management literature in the area of BOT contracts, and this research study attempts to partially fill this gap.

Tasks and projects have a number of stakeholders with different sets of objectives and responsibilities. In the case of a bigger project, the company works in close coordination with the stakeholders like the government, the authorities and the other companies. A smaller project, on the other hand, entrusts such responsibilities on the shoulders of the project manager. Therefore it is very crucial for the successful implementation of the project that all the stakeholders are properly identified and necessary arrangements are done by the project management team/s to take care of the interests of all the stakeholders while seeking their optimum cooperation towards the implementations.