Project Stakeholders - Essay Example

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The implication is also that a business cannot now confine itself only to its traditional economic role of aiming for a profit within existing legal rules, an approach which may imply that the business is being irresponsible in the exercise of its power. A publicly-owned company does not therefore operate in a vacuum: it the project is to ensure long-term survival, it needs to respond to growing public criticism of activities and be seen to be making a positive contribution to meeting the changing needs of society…
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Download file to see previous pages (Freeman, 1984, p. 46). Within the project, it is possible to identify two main groups of stakeholders: internal and external. Internal stakeholders include the project manager and nuclear scientists, engineers and technology professionals. Also, it is possible to assume that trades unions have a certain impact on labor relations. Following Freeman, the stockholder position can usually be expressed as a 'profit maximization' dictum. External stakeholders include the American society (citizens) and global community at large, military personal, Department of Defense, the state authorities, suppliers, regulators. The project management has a responsibility to all these and must structure its objectives to give each a measure of satisfaction. Employees responsibilities, as internal stakeholders: "cut across many departments. Human resources focuses mainly on recruiting, pay and benefits, training programs, employee appraisal systems, and similar concerns affecting all jobholders" (Lamb, Mckee 2005 7)
Once the stakeholder map has been constructed for the project, the competing agendas can be anal ...Download file to see next pagesRead More
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