SATISFACTION MAXIMIZING MODEL FOR MANAGING PROJECT STAKEHOLDERS

Chiu-chi WEİ; Chung-cheng FU; , Chiou-shuei WEİ

doi:https://doi.org/10.17261/Pressacademia.2016.355

Article Details

SATISFACTION MAXIMIZING MODEL FOR MANAGING PROJECT STAKEHOLDERS

Authors:

Chiu-chi WEİ | Chung-cheng FU | , Chiou-shuei WEİ

Publisher:

PressAcademia

Main Topics:

Sociology and anthropology

Journal:

Research Journal of Business and Management 2016 Vol.3 Issue 4, pp.314-322

Document Type:

Article

Publication Date:

12/2016

Document Language:

Turkish

Document ID (Org No.):

2000782541

Frequency:

Quarterly

eISSN:

2148-6689

DOI:

https://doi.org/10.17261/Pressacademia.2016.355

Keywords:

Abstract:

 


From when a project begins, an uncertain number of
stakeholders participate in its planning, execution, monitoring, and
controlling, and these stakeholders may change over the course of the project.
Project success relies on appropriate stakeholder management and maximization
of stakeholder satisfaction. Conventionally, stakeholder management relies
solely on the experience and traits of project managers; thus, it can only
refer to theories and principles, and cannot be implemented effectively and
systematically. To solve this predicament, this study developed a mathematical
model that maximizes stakeholder satisfaction considering the level of
influence of stakeholders, the available engagement time, project risks, cost
of changes, and engagement costs of stakeholders at every stage of a project.
The model uses LINGO to calculate the most favorable engagement time for each
stakeholder at every stage and maximize stakeholder satisfaction according to
the project risk and influence level of stakeholders under conditions of
limited engagement time and cost. 


.

 


From when a project begins, an uncertain number of
stakeholders participate in its planning, execution, monitoring, and
controlling, and these stakeholders may change over the course of the project.
Project success relies on appropriate stakeholder management and maximization
of stakeholder satisfaction. Conventionally, stakeholder management relies
solely on the experience and traits of project managers; thus, it can only
refer to theories and principles, and cannot be implemented effectively and
systematically. To solve this predicament, this study developed a mathematical
model that maximizes stakeholder satisfaction considering the level of
influence of stakeholders, the available engagement time, project risks, cost
of changes, and engagement costs of stakeholders at every stage of a project.
The model uses LINGO to calculate the most favorable engagement time for each
stakeholder at every stage and maximize stakeholder satisfaction according to
the project risk and influence level of stakeholders under conditions of
limited engagement time and cost. 


.

Article Details

SATISFACTION MAXIMIZING MODEL FOR MANAGING PROJECT STAKEHOLDERS

Authors:

Chiu-chi WEİ | Chung-cheng FU | , Chiou-shuei WEİ

Publisher:

PressAcademia

Main Topics:

Sociology and anthropology

Journal:

Research Journal of Business and Management 2016 Vol.3 Issue 4, pp.314-322

Document Type:

Article

Publication Date:

12/2016

Document Language:

Turkish

Document ID (Org No.):

2000782541

Frequency:

Quarterly

eISSN:

2148-6689

DOI:

https://doi.org/10.17261/Pressacademia.2016.355

project management

stakeholder

stakeholder management

stakeholder satisfaction

Issues

Article Details

SATISFACTION MAXIMIZING MODEL FOR MANAGING PROJECT STAKEHOLDERS

Authors: Chiu-chi WEİ | Chung-cheng FU | , Chiou-shuei WEİ

Publisher: PressAcademia

Main Topics: Sociology and anthropology

Journal: Research Journal of Business and Management 2016 Vol.3 Issue 4, pp.314-322

Document Type: Article

Publication Date: 12/2016

Document Language: Turkish

Document ID (Org No.): 2000782541

Frequency: Quarterly

eISSN: 2148-6689

DOI: https://doi.org/10.17261/Pressacademia.2016.355

project management

stakeholder

stakeholder management

stakeholder satisfaction

Issues

Authors:

Chiu-chi WEİ | Chung-cheng FU | , Chiou-shuei WEİ

Publisher:

PressAcademia

Main Topics:

Sociology and anthropology

Journal:

Research Journal of Business and Management 2016 Vol.3 Issue 4, pp.314-322

Document Type:

Article

Publication Date:

12/2016

Document Language:

Turkish

Document ID (Org No.):

2000782541

Frequency:

Quarterly

eISSN:

2148-6689

DOI:

https://doi.org/10.17261/Pressacademia.2016.355