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To Explore the Capabilities Required by Managers to Manage Stakeholders' Relationships Effectively in IT Sector in India

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To Explore the Capabilities Required by Managers to Manage Stakeholders' Relationships Effectively in IT Sector in India

by

Raghuraman Thiyagarajan

A Dissertation submitted to Eaton Business School (EBS) and Guglielmo Marconi University (GMU) in partial fulfillment of the requirements for the degree of EMBA

July, 2022

Student ID: ONL1042109C03

Supervisor: Ms. Rajashree Date: 3-Jul-2022

1.0 Introduction4 ~ 4

1.1 Background4 ~ 4

1.1.1 Importance on Stakeholder Management4 ~ 6

1.1.2 Stakeholder Strategy6 ~ 6

1.2 Problem Statement6 ~ 7

1.3 Research Questions7 ~ 7

1.3.1 Research Objectives7 ~ 7

1.4 Aim 7 ~ 7

1.5 Scope of the Research7 ~ 7

1.6 Structure of the Dissertation8 ~ 8

1.7 Summary of the Chapter8 ~ 9

2.0 Literature Review 10 ~ 10

2.1 Project and Project Management10 ~ 11

2.1.1 Temporary Organization 11 ~ 12

2.2 The Project as part of the Organization12 ~ 13

2.3 Project Typologies13 ~ 13

2.3.1 Project Typology Continuum14 ~ 15

2.4 Goals of Project and Methods Matrix15 ~ 16

2.5 The NCTP Framework16 ~ 17

2.6 Project Success/Failure17 ~ 18

2.7 Managing Project relationships19 ~ 20

2.8 Methodologies and tools for visualising stakeholders20 ~ 22

2.9 Managing Relationships22 ~ 22

2.9.1 The Project Environment22 ~ 23

2.9.2 Three Dimensions of Project Management Skills and Knowledge23 ~ 23

2.10 Summary of the Chapter24 ~ 24

3.0 Research Methodology and Philosophy25 ~ 25

3.0 Methodology25 ~ 25

3.1 Saunders Research Onion25 ~ 25

3.1.1 Research Philosophy25 ~ 26

3.1.2 Research Strategy26 ~ 27

3.1.3 Research Approach27 ~ 28

3.1.3.1 Personal Input28 ~ 28

3.1.3.2 Peer and User Input28 ~ 29

3.1.3.3 Theoretical Input29 ~ 29

3.1.4 Choices30 ~ 30

3.1.5 Time Horizon30 ~ 30

3.1.6 Techniques and Procedure30 ~ 31

3.2 Ethical Concern31 ~ 31

3.3 Reliability and Validity31 ~ 32

3.4 Summary of the Chapter32 ~ 32

4.0 Research Findings and Discussions33 ~ 33

4.1 Introduction to Research Findings33 ~ 33

4.2 Overview Description of Data Collected 33 ~ 34

4.2.1 Prioritization of Stakeholders 34 ~ 35

4.2.2 Stakeholder Engagement Strategy 36 ~ 37

4.3 Summary of Description of the response 37 ~ 37

4.4 Details of Data Collected37 ~ 38

4.5 Data: Graph Observation Analysis 38 ~ 40

4.6 Summary of the Chapter 40 ~ 40

5.0 Conclusion and Recommendation41 ~ 42

5.1 Conclusion42 ~ 43

5.2 Review of Study aims and Objectives to the data collected43 ~ 43

5.3 Limitations44 ~ 44

5.4 Suggested area for further search44 ~ 44

5.5 Recommendations44 ~ 46

5.6 Summary of the Chapter46 ~ 46

References (Adhering to Harvard Referencing Format)47 ~ 52

Questionnaire53 ~ 53

Chapter 1 - Introduction

1.0 Background of the Research:

Projects have become more popular as a technique for implementing organizational change in today's businesses. Unfortunately, project failure rates are too high in the real world for any organization to stand by passively. Research for this dissertation has characterized failure in terms of stakeholders' perceptions and connections to the project's value and success. The results of this dissertation support this definition. Understanding that each stakeholder will have different expectations and definitions of success is critical to building effective project collaborations. The perception of a project by stakeholders and the ability of project managers to cope with organizational politics have a significant impact on the success or failure of a project. With the use of the Stakeholder Circles, a stakeholder management approach and representation tool, this procedure was greatly streamlined and improved. Various people and organizations make up this group. Each one can make a difference in various ways to the project's success or failure. Use the Stakeholder Circle technique to identify and prioritize stakeholders, as well as their needs and the best means of engaging them. Significant advantages of this technology include the analytical process itself, as well as how easy it is to evaluate the influence that important stakeholders have on the project and to govern this impact. Using a technique and a technology, we hope to improve the odds of our project's success. To help the project's management and team cultivate constructive relationships with key stakeholders, the Stakeholder Circle was created. It was then refined and put through rigorous testing to see whether it worked.

An exploratory and descriptive investigation is the focus of this research. To help project managers and team members create and sustain connections with important project stakeholders, Stakeholder Circle has developed a methodology and visualization tool.

1.1.1 Importance on Stakeholder Management:

Project management is the process of overseeing a project's whole lifecycle, from its inception to its completion, by using previously acquired knowledge, methods, and tactics. Managing stakeholders is an important part of project management and should not be ignored. Therefore, project managers must promote open communication between the project team and the many stakeholders. Managers of projects are often tasked with managing and directing a project from inception to completion. Every step of the project lifecycle is handled by an individual who is called a project manager, from the beginning to the end. Aside from this, they are well-versed in the following nine project management knowledge areas: budgeting and scheduling, stakeholder and stakeholder communication and coordination and procurement. They also know how to manage quality, timeliness, risk, and integration among other things. It is important to remember that all projects have stakeholders; stakeholders are those who are affected in some way by the project's results. From both within and outside the organization, stakeholders may be found. External stakeholders are those who get something from the project but aren't part of the organization itself; internal stakeholders are those who are. For the International Organization for Standardization (ISO), it's the purpose of stakeholder management to provide information on the prospective outcomes, functions, and demands of both external and internal participants who might either influence or be influenced by a project or activity. First, it is critical to have this information so that you can determine how stakeholders' actions or inactions impact the outcomes of an organization, project, or activity. Impact stakeholders' power and interest as well as their location in relation to the communications network are important factors. Stakeholder groups and people are assumed to be under the supervision of the project manager. They are in charge of one of the most critical responsibilities in their employment. For the project's sake, as well as to enjoy the benefit of a good stakeholder engagement, which reduces project risk and provides other project-related advantages. The project manager's ability to build strong connections with stakeholders is essential to his or her success in the position. Stakeholders' needs and expectations are taken into account in the project's decision-making process and activities, and problems are addressed as they emerge, conflicts of interest are managed, and a feeling of ownership among stakeholders is promoted. When a project is finished in accordance with all of the project's requirements, including the scope, time period, and budget, it is called successful. To ensure the success of a project, the project manager must cultivate strong connections with stakeholders from a variety of different backgrounds. Given that project success is not only reliant on the project team's efforts, the involvement of upper-level executives, functional managers, customers, suppliers, contractors, and other third parties typically determines whether the project is a success or a failure.

First notion was created for an interactive approach to identify important stakeholders and tailor engagement techniques to fit their individual requirements while working on projects that were constantly cancelled or re-scoped. The project's management team became aware of the requirements and/or complaints of stakeholders who had previously been considered peripheral to or unaffected by the initiative. The prototype approach was created for staff project managers (PMs) to help them prioritize their project stakeholders and develop dynamic interaction strategies for project management. The Project Management Institute (PMI) commissioned research to investigate project management methods across all industries and businesses. Project failure was widespread across all industries and businesses, according to the poll. Recent research described project failure in a variety of ways, including:

a mismatch between the solution and the organization's strategy, goals, or objectives.

Participation and support from the highest levels of government are lacking.

Ignorance of the dangers, tests, and training

A reluctance to admit that the project is in danger

High-profile projects benefit from cutting-edge technologies

Majority of stakeholders consider it a failure.

1.1.2 Stakeholder Strategy: From this research, it is possible to distil the needs for a successful project into three main areas: the supply of value, risk management, and interpersonal relationship management. More than merely following a schedule, money, opportunity/quality, and the comprehension of marketable and organizational welfares, it is about delivering value. Project relationships and risks must be managed to ensure that all stakeholders' expectations are met in terms of what is offered when it is provided, and in what manner it is delivered. It's vital to know how things fit together both inside and outside of a project. The project manager and team can better manage project interactions when the Stakeholder CircleTM methodology and visualization tool are used together. They may identify and interact with their important stakeholders at each stage of the project's life cycle by following the methodology's protocols, which are supported by software and a visualization tool. As a result, they will be competent to create and monitor a suitable arrangement strategy for creating and keeping effective working interactions. Stakeholder management is now generally accepted, but current methods do not fully support this recognition. Additionally, this research aims to improve and evaluate the Stakeholder CircleTM strategy, among other things.

1.2 Problem statement:

Stakeholder management and the project manager's roles are vital to project success; hence, both are required participants. As a result, the project manager must play an important role in connecting the numerous parties participating in the project. Stakeholder management is influenced by various factors, and a project manager has a substantial impact on stakeholder management performance.

1.3 Research Questions

We created the following research questions

Research Question 1: What are the Perceptions of the Project Managers on Effectiveness of Stakeholder CircleTM to manage the stakeholders in India IT Sector?

Research Question 2: What are the recommendations to implement Stakeholder CircleTM across the operations in IT Sectors?

1.3.1 Research Objectives

To Understand the Perceptions of Project Managers on Effectiveness of Stakeholder CircleTM

To Identify the importance of Stakeholder CicleTM to manage the Stakeholders

To Recommend the steps to implement Stakeholder CircleTM across operations.

1.4 Aim

The aim of the research is to achieve the project's objective; this enables the project to use whatever methods or procedures are necessary to accomplish the project's objective. As such, this study will examine the abilities of a successful manager who interacts with stakeholders in order to develop a good connection.

1.5 Scope of the research:

The following research scopes were developed for this research:

Through this research we can define the success and failure of any project and causes behind this and can describe the relationship between the project success and stakeholder management and we can also analyze the current management practice. Throughout this research we can test and refine the stakeholder circle methodology and tool for solving the causes behind the failure and also, we can adapt the factor those are helpful in success of project and can analyzer their effectiveness in business and project.

1.6 Structure of the Dissertation:

This dissertation is divided into five sections. The first chapter provides an overview of the research. Here you'll find an explanation of the purpose of the study as well as a description of the research topic, methodology, theoretical framework, and overall dissertation format. In Chapter 2, a review of the research shows how important relationship management is for project success. A project is defined in this article as a temporary organization that is formed to provide a distinctive and original result. Our next step is to look at the literature on the many aspects of project management, including stakeholder management, relationship management, as well as difficulties that emerge from this. This chapter discusses the significance of developing abilities beyond management and leadership in order to function within the political component of the company, which requires an awareness of power and influence as well as effective communication. The literature study emphasizes the significance of identifying and prioritizing project stakeholders, and as a consequence, a methodology and engagement strategy are offered.

Chapter 3 contains detailed information on the process, which covers data collecting, philosophical and theoretical assumptions that govern the study, the research strategy, and the research design. Chapter 3 is divided into three sections: This section covers the Stakeholder Circle methodology and visualization tool, as well as its origins, use, and appraisal of the tool's value for the project team and organization. We will also look at how managers in a company may successfully manage stakeholder relationships.

It is vital to note that the visualization tool is used to identify key stakeholders and lead the engagement strategy in Part IV of this chapter. It is a critical component of the process. Data from workshop evaluations, interviews, and observations are used to determine whether the project team is willing and able to interact with stakeholders in the manner recommended by this strategy. Chapter 5 summarizes the study findings pertinent to the research themes, as well as the contribution of this work to project management. More research and practice possibilities are offered as the last recommendations.

1.7 Summary of the Chapter

This chapter serves as the introduction. The study's major point is that a successful project partnership can only be formed when the expectations of the various project participants and their definitions of success are clearly understood. It has a significant impact on project success or failure because of how stakeholders view the project and project managers' ability to successfully handle the organization's politics.

The literature review is utilized in Chapter 2 to create a framework for ideas and concepts that will be examined in depth throughout the research to solve these challenges. Many firms nowadays are focused on projects, with the organization's capacity to innovate, deliver better service, and save money determining its success. An enhanced definition is utilized in this section to combine the concept of a project as an intermediate organization and its function in introducing new ideas and improvements to the work environment.

Chapter 3 addresses several research methodologies and ideologies related to this topic. The Stakeholder CircleTM viewing tool is a reference tool for the project team, stakeholders, and others, allowing them to identify who the project team recognized as being critical to project success. The technique and the Stakeholder CircleTM tool have two significant advantages: the process of analysis and the ease with which to analyze the influence of project participants on a project as soon as the project is concluded. Positivism is a philosophy that holds that "real" information, including estimation, is typically dependable. In positivist investigations, researcher control is confined to the data route and objective knowledge.

All of the study and findings are presented in Chapter 4. This tool's methodology provides an excellent tool for measuring the overall impact of project participants, comprehending their ideas, and exhibiting applicable participation techniques to affect important stakeholder inquiries and data pieces to benefit the project. The influence on stakeholders is determined by strength, closeness, and moderation, which is a well-established method.

Chapter 5 concludes with a recommendation. Participant circle reviews for each project component, as well as multi-project assessments, yielded two or three interesting results. The sharp tool unveiled incredible participant networks, and people, in particular, played diverse roles and levels of importance to the projects they envisioned. Diverse efforts from adjacent locations frequently demonstrate the combination of various persons and the relative relevance of their participating networks.

Chapter 2 Literature Review

2.0 Literature review:

Having a clear goal in mind helps to ensure that the project can use whatever techniques or processes are required to reach that goal. Thus, this research will focus on how a successful manager connects with stakeholders in order to build strong relationship talents.

Fig: structure of the chapter

2.1 Project and Project Management

Planning, management, and control have always been necessary for all temporary effortsfrom Egypt's Pyramids to the refinement of weaponry in the 19th century to the development and implementation of ICT and business change in the 21st centuryin order to achieve the desired end result. The concept of projects has taken hold in many organizations today, with the success of an organization being measured by its capacity to innovate, deliver better service, and save money. An enlarged definition is used in this section to integrate the idea of a project as a temporary organization and its role as a delivery mechanism for novelties and workplace adjustments. Using this concept, we can see how difficult and risky it is to achieve project goals in today's environment. This sector's organizational structure is shown graphically in the following diagram.

"A temporary activity done in order to produce an exclusive product, service, or outcome" is the most widely accepted definition of a project in the industry. There is a clear objective, a beginning and an end to the project's existence, and certain time, cost, and performance requirements or constraints associated with this notion. Human, financial, and material resources are integrated into the word in unique ways in further expansions. Innovation, boundaries, and resource utilization can all be included in the definition of projects going forward. As a result, this notion has been expanded to include four subcategories: the project as a temporary organization; the delivery of an innovative product; and the project's position as a catalyst for change inside the organization, among others. The sub-sections of the above-mentioned portion are shown in the diagram. Ambiguity and complexity are formed because nothing can be predicted. As a project manager, you must find a means to balance the conflicting demands on resources between the project, other projects, your own project, and the company. This is not a simple process. It is more difficult to achieve this equilibrium in a context of ambiguity and complexity; the capacity to navigate such a climate count.

2.1.1 Temporary organization

Instead of seeing projects as a tool, Packendorff advocates viewing them as transitory organizations with their own unique set of rules and procedures, as opposed to general theories of project management in which all projects are treated uniformly. Rather of focusing on inputs and outputs, temporary organizations are made up of individuals who work together to accomplish a common aim. Projects have their own culture and structure, as well as stakeholders and teams, all of which demand the use of leadership or management skills in order to decrease or enhance the risk of failure or success, respectively.

2.2 The project as part of the organization

This kind of endeavor requires the project's leadership to be flexible and adaptable in order to thrive in a constantly shifting environment. Within these limits, the performing organization is expected to meet or exceed its customers' needs in an ever-changing and extremely complex context. Conventional project definitions ignore the critical role played by the performing organization in project creation and the importance of that role in ensuring a project's success The organizational structure of a project may vary from that of the performing organization in many ways since it is a temporary organization inside a longer-term one. The figure illustrates this idea.

Figure -The project as part of the executing the organization

Though it is a component of the performance organization, project management is subject to both internal and external influences. As a result of these conditions, the project organization's culture and practices may be influenced in ways that are substantially different from those of the performing organization. An organization's long-term strategic objectives must be taken into consideration while evaluating project deliverables. The expectations of managers and other stakeholders will be influenced by the structure of the company and the cultural variables that permeate that framework and those stakeholders. The capacity of the initiative to achieve its goals will be impacted by other organizations.

2.3 Project typologies125730049530000Projects are presumed to have the same set of problems throughout this talk; hence a single set of approaches and tools is believed to be appropriate for all of them. It has been shown that this assumption was wrong. Since no two projects are the same, it seems that effective project management requires a unique set of managerial and organizational approaches for each one to be successful. Frameworks or models for project categorization have been developed to aid organizations in the selection of project managers, project teams, and project management methods. All kinds of initiatives, including traditional engineering projects to dot-com enterprises may make use of these models and frameworks.

Both the Project Typology Continuum and the Goals and Methods Matrix model are well-known project typologies. To help with the planning and control of diverse projects, these typologies might be helpful. Defining and attaining project success, and assessing project success, are defined by these principles. With the NCTP Model, a more recent effort has been made to set rules for managing a wide variety of projects. When it comes to projects, this model takes into account a variety of factors such as the project's uniqueness, complexity, technological unpredictability, and speed. It will then proceed through the following three typologies in turn: Project Typology Continuum, Goal and Method Matrix and National Center for Technology Policy in order.

2.3.1 Project Typology Continuum

When it comes to project management, the Project Typology is an essential set of guidelines to follow. There is a continuum shown in FIGURE. To classify project kinds, this model considers how well they are specified, how tangible their results are, and how much formality there is in their structure, administration, and control systems. As a consequence, a 'continuum' of initiatives has formed, each of which is broken down into three main groups. On the "high" end of the spectrum are concrete efforts with clearly defined objectives and means to achieve them, as shown by a high degree structure and role definition, as well as the application of knowledge gathered from previous experience. There is a significant difference between Occasional/Temporary projects and Open projects in that the former has well-defined goals but less clear processes, whereas Open projects are at the "low" end of the continuum with less well-defined goals, uncertain outcomes, and a lack of clarity about the processes used to achieve those outcomes. Concrete projects include things like constructing a ship or staging a significant event; Occasional/Temporary projects include things like business-related changes; and Open projects include things like research and development. Concrete projects include things like construction, shipbuilding, and even significant events like the Super Bowl or the Academy Awards.

Figure Adapted Project typology adapted

Additionally, the concept of Visibility may be applied to any kind of project, whether it is permanent, temporary, or open source. For example, high-risk, substantial change projects that are supported by stakeholders are considered high-visibility projects; low-risk, significant change initiatives that have minimal influence on the survival of the organization, are referred to as low-visibility or low-risk projects.

Helps in the selection of the best project management approaches and leadership styles and skills for a specific circumstance by using this Continuum. Occasionally, projects may not have well-defined roles and duties and may be staffed by part-timers; the project manager may even be part-time in such situations. A flexible attitude and willingness to regularly review the project's aims and surroundings are essential in this scenario.

2.4 Goals of project and Methods Matrix

Using the Goal and Methods Matrix, you may categorize projects based on two dimensions: their goals and their methods. The Project Typology Continuum divides projects into four categories, each of which is represented by a row in this matrix. The matrices are shown in the figure.

170370526670000

Figure - Goals and Methods Matrix

There are a lot of people involved in Type 1 projects because of the number of people on the team and the number of sponsors. All of these initiatives have well-defined procedures and well-defined objectives and approaches. If a product's functionality has been established, but how it will be achieved has yet to be determined, this kind of project falls under Type 2. Information and communications technology (ICT) projects fall into the Type 3 category, where the goals are vague but the methods are clearly defined. Research or organizational reform projects often fall into this category, which is characterized by a lack of clarity in the aims and methodology they seek to achieve (Pirozzi, 2019).

2.5 The NCTP Framework

2466975168338500These four elements, given in Figure, form the NCTP Framework: novelty; complexity; technical uncertainty; and pace of change. Using this approach, you may differentiate between originality and derivativeness. "Derivative" and "new to the world" products are both examples of product innovation, which may vary from enhancing existing commodities to creating entirely new ones. It is crucial for projects to have accurate estimates and subsequent project planning and management to reap the benefits of uniqueness. It's more difficult for "new to the world" items toknow how long it will take, how much money it will cost, and how long it will take to get it out into the market (Stead, 2014). To increase a project's chances of success, examine characteristics of innovation and marketability during the product development process, such as pricing, time to market, and client acceptance. The complexity of a project rises in proportion to its width, which is impacted by the number and diversity of its parts, its interdependencies, and the diversity of its stakeholders. Pace refers to the time-related characteristics of project deliverables, which are a combination of projected time and urgency. The longer the development processes are, the more design iterations and testing are necessary, and the more unique or innovative the technology. Complexity and uncertainty in the scope of a system provide a higher level of risk and susceptibility than other combinations of these traits (Civera, 2019). When it comes to integration and interface concerns, most other projects require a lesser level of technical and project management experience.

Using the NCTP framework, project managers may more easily discover the correct balance of leadership and management styles and procedures to guarantee the success of their projects. Project Characteristics and Technology Uncertainty3, Project Characteristics and System Scope Levels 4, Product Novelty and Impact on Project Management Matrixes may help speed up the selection process. For the most part, it delves into more depth than the preceding two types of typologies. In today's projects, which blur the lines among business initiatives and construction projects, complexity, technology, delivery speed, and value to the organization are more important than anything else. An up-to-the-minute strategy. By researching the characteristics of the projects in question, the three project typologies were created to help organizations choose the best project management methodologies. In the Goals and Methods Matrix, the Project Typology Continuum, and the NCTP framework, choosing the correct project management method is crucial. Using any one of these methods will help a project succeed, but they cannot guarantee that it will not also fail due to the traditional triple restriction of time, money, and quality.

2.6 Project success/failure:

When a project fails, the organization's strategic goals are not realized, limited resources are squandered, and stakeholders who had expected some benefit from the project's conclusion are negatively impacted by the failure. Part of this part focuses on defining project success and failure in terms of its larger scope, as well as investigating what causes projects to fail. A project success model that integrates several characteristics of project failures identified in the literature has been constructed (Hillebrand, 2015). The consequences of project failure on the organizations involved have been carefully researched. According to a CHAOS research, information technology measures fail at least 30% of the time. Only 16% of these projects were finished on schedule and within budget, with the average cost exceeding 180 percent of the original budget. According to the survey, 13% of IT projects endorsed by CEOs were deemed successful.

Things have gotten better over time: 34% of programs are regarded successful, while failures have reduced to 15% of all initiatives. Stored overruns account for 43% of the initial value, with the final product including 52% of the real features and performance. Integrating clearly articulated business objectives under the supervision of an experienced project manager increased the likelihood of success by 65%. The graphic depicts how the three components interact with one another. Co-operatives founded by the majority of program participants reflect all participants in the long-term viability of the computer system. Customers must supply funds, resources, and building materials, as well as timely and political judgments via social authenticity and professionalism, for this alliance to be effective (Mazur, 2014). It is critical to guarantee that the project team can focus on delivering the agreed-upon features on time and within budget.

16465556540500

Figure - The triangle of dependence

The triangle of reliance gives the most relevant insights into project delivery and personal perceptions of success. The viewpoints, aspirations, and ability to act for or against the project of each and every project stakeholder are critical factors that determine whether the endeavor is a success or a failure (Cantrell, 2015). In this context, supporters' evaluations of expectations not being met, commitments not being delivered, or the idea that support (resources) may be employed elsewhere may all be deemed failures for supporter evaluations The Project Management Institute (PMI) hired Athabasca University to do research on project management practices in various industries.

2.7 Managing project relationships

Keep in touch with all of your stakeholders to ensure the long-term viability and success of your firm. Both the organization as a whole, and the project organizations that work inside it, are affected. These relationships must be managed in a way that best meets the needs and expectations of stakeholders, which includes identifying groups or individuals who can provide the project with critical resources or who are willing to take additional risk or who have the ability to influence the project's outcomes. Customers, the project leader's organization, outside services, and the project team are all examples of stakeholders, according to Briner and colleagues. Non-visible members of the squad It is essential, according to Cleland, that the interests of all stakeholders be identified and that negotiations be conducted both individually and collectively in order to find the most successful approach for managing stakeholder demands and wants. Despite the fact that their involvement in the project isn't immediately obvious, the organizations and individuals shown in Figure are crucial to its success and are hence known as "invisible" stakeholders.

Figure - Stakeholder model

Identifying and understanding the strength and influence of 'legitimate and valid' stakeholders is critical to managing their possible effect on projects. Stakeholders are identified as part of the project planning process and include any persons and organizations regarded by the project team to have an influence on the project or be affected by it. Strategies may then be developed and followed to maximize the good impact of a stakeholder and minimize the negative effect of the stakeholder. As a result, this becomes an important risk management tool. Many projects have failed due to a lack of understanding of the link between risk management and stakeholder management.

2.8 Methodologies and tools for visualizing stakeholders

Aim of this part is to evaluate and understand existing stakeholder management approaches in the literature. Table summarizes a variety of stakeholder identifying and management approaches created by individuals, organizations, institutions, and government entities.

Methodology Comments

Stakeholder Identification and Management (without categorization) When used in conjunction with performance management and planning, the techniques have shown to be strong and useful

Definition of categories of stakeholders Supportive, mixed blessing, non-supportive, and marginal are four general sorts.

Types of stakeholders are broken down into eight categories depending on the strength of three attributes: the three pillars of authority, legitimacy, and time crunch

Comprehensive stakeholder identification, assessment and engagement Identify and quantify the interest of stakeholders, and then try to anticipate their future behavior and the influence on the project and the project team that will result from that behavior.

Focus on improving economic value and organizational prosperity as well as recording what stakeholders need from the project Value hierarchies and Key Performance Areas are used to map stakeholders' expectations.

Stakeholder management techniques that are planned rather than reactive are examined.

A more comprehensive approach to identifying, assessing, and developing awareness, support, and impact. A repository of information gathered from several stakeholders.

Network Governance and Social network theory Stakeholder relationships are more complex than the "dyadic links" often used to define them. An accurate assessment of relative power and communication depends on the density and centrality of these links.

inside of the stakeholder group

Stakeholder Circle

visualization tool and methodology Engagement plan selection, prioritization, and prioritization

establishing long-term connections

Table - A selection of methodologies for identification and management of stakeholders

Project managers and their teams may use the Stakeholder CircleTM prototype to identify the project's important stakeholders at any given point in the project's lifetime.

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Figure- The Stakeholder Circle

It is important to note that the Stakeholder CircleTM has a number of key features: concentric circles that indicate distance between stakeholders and project managers; patterns of stakeholder entities that indicates their homogeneity, for example a solid shade indicates solidarity; the size of the block, its relative area covered, indicates the scope and influence; and radial depth can indicate the extent to which the stakeholder has an impact. In order to minimize the negative influence on stakeholders, this approach and tool have been designed to ease the work of the project stakeholders.

2.9 Managing Relationships

2.9.1 The Project Environment

The interactions between the project manager and the project stakeholders, as well as the links between the project stakeholders themselves, are called project relationships. Briner and colleagues (1996) have used the word "lookings" to characterize these interactions, and enlarged this idea to include "directions of impact" as well. The sphere of influence and support' that a project relies on to survive is this seven-element structure. The Project Management Institute created it. Figure shows how the project is interconnected both internally and outside.

To be effective as a project manager, it's critical to differentiate between the "directions of influence" that a manager may work within and the "skills and knowledge" that they must have. There are seven 'directions of impact' that may be investigated in the Stakeholder CircleTM method to project discovery. It is possible to go in any direction: forward and backward; up or down; in or out; or in or out. There are a number of ways to exert influence, from forward and backward to up and down as well as within and outward. There are two distinct components to project management: forward planning and backward planning. Forward planning involves predicting and planning; backward planning involves creating control systems, historical records, and other people's expertise. If you want to be successful as a project manager, you must know and practice these fundamentals. In order to keep the project on track, it is essential to create strong connections with the company's senior executives. On the other hand, not all senior executives are critical to the success of a project. This article is all about how to manage a group of people while going downward. As described by Breiner et al. (1996), the process of managing internally includes getting input from stakeholders on project challenges as well as encouraging practitioners to think critically about their own experiences.

2.9.2 Three Dimensions of Project Management Skills and Knowledge

The successful completion of project deliverables is based on project management of both hard and soft skills, such as time, money, and scope control, as well as leadership and relationship management. The 1st Dimension of project management is comprised of the hard skills necessary for project management. 2nd Dimension skills, the next set of abilities to be discussed, describes project management as the art of project leadership. People, not procedures or technology, are ultimately accountable for the successful completion of projects, making the application of soft skills a must. Third Dimension skills, which demand competencies beyond those of managing and leading people are necessary for successful project execution. Third Dimensional abilities can only be developed if one can recognize and understand the organization's power structures and has a willingness to work within them. In order to effectively manage projects in the political contexts in which they operate, project managers must acquire these skills as well as the requisite knowledge and understanding.

When it comes to project management, it's a blend of the art and science of leadership and management. Art and craft, management and leadership, and project stakeholders all need to be balanced in order for a project manager to be effective in their roles. The 3rd Dimension refers to those aspects of project management that don't fit well into current techniques. Organizations use the word "politics" to describe this.

2.10 Summary of the chapter

This chapter examines the CircleTM stakeholder documentation. The Stakeholder CircleTM concept is divided into two sections: distance-based circles that represent the distance between participants and the project manager, and focused circles that represent the distance between participants and the project manager. Each stakeholder model has similarities. A heavy shadow, for example, denotes a specific person, whereas hiding or gathering secrets denotes a party. The size and general placement of the wedge represent the size of the participants and the amount of influence, whilst the total value shows the impact or strength of the participants completing the project. Stakeholder CircleTM is founded on the premise that a project may be accomplished by educated learning about stakeholder groups, and that managing stakeholder relationships will increase the project team's chances of accomplishing a big goal. Individuals and groups from the participant community, each with a particular capacity to contribute to the project's successful completion without doubt or grief. The environmental tool brings important project stakeholders together to determine which project package has chosen them as project leaders.

Chapter 3 Research Methodology and Philosophy

3.0 Methodology

3.1.1 Saunders Research onion:

Saunders (2007) explained the modelfor explaining every stage of writing a research paper for helping the students in creating a well-organized methodology. The stages of this model are as follows:

3.1.1 Research Philosophy

Positivism is the research philosophy for the literature. Positivism is a philosophy that conforms to the belief that "factual" knowledge, including measurement, is strong in general. The reason for choosing positivism is that in positivist investigations, the researcher's control is limited to a data strategy and objective comprehension. Quantifiable discoveries that lead to statistical analysis are essential to positivism. For quite some time, it has been a vital type of research in business and the store up disciplines. As a philosophy, positivism has been proved to be as demonstrated by the empiricist idea that knowledge comes from human experience. It has an atomistic, ontological view of the universe as a collection of separate, specific components and events that interact in a non-permanently set up and average fashion. Furthermore, in positivist studies, the researcher is allowed to approach the review in whatever way he or she wants, and there are no procedures for human interests inside the review. In general, positivist studies favor a smart approach, but inductive research methods are frequently connected with a phenomenological philosophy. Furthermore, positivism holds the belief that researchers must focus on specific elements, but phenomenology focuses on the importance and provides a structure for human interest.

Gravitational thinking refers to the mental process of producing money. If you properly follow from the location, the outcome of a disagreement is reduced; that is, the location cannot be true while the conclusion is untrue. Psychologists are interested in decreased thinking as a psychological process, that is, how individuals come up with ideas. A logical focus is the drag connection of the logical impact between structure and conclusion, or the way individuals should develop what is thought.

This method is underpinned by the premise that projects can only exist if the participating communities provide their informed permission, and that managing community-to-project communication improves project outcomes. This community is made up of persons and organizations, each of which has the ability to positively or negatively impact the success of a project in many ways. The Stakeholder CircleTM approach may be used to evaluate the relative value of various project partners. The Stakeholder CircleTM viewing tool serves as a reference for the project team, stakeholders, and others, allowing them to see who the project team has identified as critical to the project's success. The self-assessment process and simple access to project participants' influence after the project is concluded is a fundamental feature of the Stakeholder CircleTM approach and technology. The evaluation should be revised to reflect the changing scenario as the stakeholder group expands and changes.

3.1.2 Research Strategy

The Stakeholder CircleTM technique may be used by project teams to build an appropriate consultation strategy and communication plan to guarantee that the requirements and expectations of important project stakeholders are satisfied. 'Stakeholder Meeting' An essential component is the Stakeholder CircleTM tool's capacity to assemble key project participants based on their potential to affect project success or failure.

An efficient stakeholder planning and categorization process is critical for ensuring that all stakeholders are involved in the project on schedule and with the appropriate amount of consultation, information, and communication. Managing changes in participant community membership and the influence of participants during the work time is a very adaptable approach. Stakeholder CircleTM prototype in action, as seen in Figure 3.1.

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Fig: Prototype stakeholder circle

An extensive set of Excel spreadsheets underpins the strategy, which is capable of handling both text and numerical data at once with equal ease. As a starting point, the names of everyone involved and their roles are laid out in detail. The 'direction of influence' of every stakeholder is described on the second page, along with the reciprocal interactions among stakeholders and the project, which are referred to as mutuality'. The second page included the necessary information for assessing the strength, proximity, and urgency of each stakeholder. For each stakeholder, a "number" is entered into the second spreadsheet, which uses the rating (number) to build an "index." The "sort" function in the second spreadsheet then provides a list of stakeholders ranked in order of importance by the project team. 3 The engagement strategy4 may be developed using the information on the third page. In order to create the project's unique Stakeholder CircleTM and to prioritize tasks, the software in Figure is able to do the complex calculations displayed there.

3.1.3 Research Approach

As a project manager of IT and business transformation initiatives in corporate organizations, Stakeholder CircleTM approach is used. In this part, we'll go through the progression from the first concepts to a more solid and successful process. I'll describe the process in terms of the contribution, the input of others, and the refining of the methodology and tool based on ideas that have been discussed in the literature.

3.1.3.1 Personal Input

As a project manager with extensive experience in big, complicated corporate organizations, the initial notion of how to dynamically identify and engage critical stakeholders was developed. The basic notion was inspired by this. For the most part, even successful projects in these organizations were seen as failures by their colleagues, even if they really delivered their intended capabilities. A pattern of issues linked to relationships inside the project environment and with the organization as a whole started to emerge early on in the project's lifecycle. As senior management sought to control costs or increase revenue through spending, the project team was under additional pressure to provide time and cost estimates that were consistent with management expectations, but did not consider technical reality or reliance on other projects, processes, or individuals. usage of information technology systems and items including information technology components Supporting stakeholders have lost interest or fled the firm, or individuals who were never deemed significant in the initiative have openly stated their concerns.

To better manage the relationships with the project stakeholders, researchers started to build and apply a more rigorous plan after this event. First, the project team compiled a list of stakeholders from outside the senior management team that they felt to be important. Part-time technical or business professionals who were part of the project team's peer group were considered to be part of the stakeholder community. These high-ranking executives were omitted from the list of stakeholders because they had no bearing on the project or were adversely impacted by it in any way. This method has advanced significantly as a consequence of the project team's joint experience and expertise.

3.1.3.2 Peer and User Input

As he worked on expanding the concept of "project," Weaver contributed to the technique by getting the project's stakeholder community to agree on its existence and worth. As a result of this research, the approach has been improved. In order to promote awareness about the value of the stakeholder community, a prototype Stakeholder CircleTM tool was included in a conference paper. A primary goal of the article was to increase awareness about the relevance of the stakeholder community to project success. Since 2002, this process and tool have been used in a number of conferences, presentations to project management teams in the Project Management Institute chapter and a major international bank, and educational papers. There have been a number of ways to improve the strategy's effectiveness and to support the concept of the visual tool. We opted to include visualization into the early stages of road construction because of the favorable reaction from conference presentations and the passion that this notion has generated. It has only recently been viable to commercialize the Stakeholder CircleTM after the research detailed in this article received positive responses to the methodology and tool.

3.1.3.3 Theoretical Input

Stakeholder identification and management alternatives and improvements have been presented by a variety of people, corporations, academic institutions, and government organizations. There are others who have gone farther and identified several sorts of stakeholders as part of the stakeholder analysis process: Mitchell has constructed a stakeholder typology based on evaluations of the strengths of three attributes: power, legitimacy, and urgency. The eight-part Mitchell model, in contrast to the four popular Savage stakeholder categories, is based on a three-character strength test: strength, legitimacy, and urgency. It has been demonstrated that stakeholders are crucial to the organization's performance, and tactics for discovering what they want in a project are devised by others. According to Fletcher and Frooman, who detailed the process of mapping participants' expectations based on the pricing plan and Key Performance Areas, organizations should plan their stakeholder management strategies rather than depending on reaction tactics to satisfy stakeholder expectations. Fletcher and Frooman also examine how people might impact an organization's strategy. It is thanks in part to Turner's work that a more thorough approach for identifying and assessing awareness, support, and influence has been devised. This has resulted in communication strategies and an evaluation of stakeholders' satisfaction. As a result of this approach, a database of stakeholder knowledge has been created, revealing who is knowledgeable and who is not, as well as whether they support or oppose the project. Briner and Hastings established a thorough approach as part of a comprehensive strategy for identification, assessment, and engagement that incorporates an understanding of networks and power. This dissertation's methodology is based on the work of these authors.

3.1.4 Choices

In this research methodology we will use qualitative approach. Stakeholder CircleTM iterative refinement cycles and data gleaned from interviewees and document analysis were all utilized to compile this study's conclusions. For each participant project, a detailed case study description painted a complete picture of what went on within the organization and helped to clarify the stakeholder profiles that emerged from the analysis of the data.

3.1.5 Time Horizon

In this research cross sectional time horizon has been utilized as this research is limited to a specific time frame.

In this research cross sectional time horizon has been utilized as this research is limited to a specific time frame.

3.1.6 Techniques and Procedure

Figure depicts the technique, which consists of three activities performed over the course of two sessions. To begin, the project team conducts an exercise to identify all of the people and groups that will be affected by, or have a direct impact on, the project's outcomes. This exercise is supported by artefacts such as the project organization chart, a map of the project environment and the knowledge of the project participants. The second part of the process is to prioritize these groups of people. All stakeholders are evaluated based on their relative relevance in relation to one another and to the project's goals. The spreadsheet is used to compute the findings, and a prioritized list is created for the participants to evaluate. The top 158 are included into the project's specific Stakeholder CircleTM. A single workshop should be used to identify and prioritize stakeholders. The third exercise and second workshop include developing an engagement strategy and communications plan to ensure that the needs and expectations of these key stakeholders are acknowledged and met. When the makeup of the project's stakeholder group changes, the method must be re-applied.

Fig: the steps of methodology

3.2 Ethical concern

The project organization's culture and practices may be influenced in ways that are substantially different from those of the performing organization. The project deliverables are determined by the business strategy of the organization. The organization's governing body will give the project the go-ahead and guarantee that the funds are delivered on time. An organization's long-term strategic objectives must be taken into consideration while evaluating project deliverables. The power dynamics inside a company's management structure are determined by the organization's structure. The expectations of managers and other stakeholders will be influenced by the structure of the company and the cultural variables that permeate that framework and those stakeholders. The capacity of the initiative to achieve its goals will be impacted by other organizations.

3.3 Reliability and validity

Stakeholders who are both internal and external to the project must be taken into consideration while extending management. This means taking into account both their needs and consequences, as well as those of those who are directly involved. Involved parties may include the performing organization's customers, users of the solution, and their managers, as well as members of the "public," including ratepayers and voters, as well as representatives of advocacy groups, government or regulatory bodies, shareholders, and companies that provide personnel, materials, or other services. The project must meet the needs of each of these external stakeholder groups. The fact that they have been placed together in the same 'direction of impact,' even if they have different needs for the project and different effects on it, should be taken into consideration.

3.5 Summary of the chapter

This chapter examines research methodology and philosophy. This research report employs positivism as its philosophy. An efficient stakeholder planning and categorization process is critical for ensuring that all stakeholders are involved in the project on schedule and with the appropriate amount of consultation, information, and communication. Managing changes in participant community membership and the influence of participants during the work time is a very adaptable approach.

Chapter 4 Research Findings and Discussions

4.1 Introduction to Research Findings

This cycle was supported by the stakeholder forum, participant management system, and data tool, which served as the foundation for this study. The principle behind stakeholder collecting is that a project can only exist if all of its stakeholders are informed. This tool's methodology provides an excellent tool for measuring the overall impact of project participants, comprehending their ideas, and exhibiting applicable participation techniques to affect important stakeholder inquiries and data pieces to benefit the project. The influence on stakeholders is determined by strength, closeness, and moderation, which is a well-established method. The tool has evolved since then. Focused circular lines represent the participants' distance from the project or its transportation component; the size of the block and its relative placement indicate the degree and level of impact; and the absolute value might reflect the value of the result. Models and shades of stakeholder substances depict their impact on the project; for example, orange depicts an upwards bearing - these stakeholders are determining bosses within the performing connection who are in charge of progressing various evenly distributed responsibilities to the project; green depicts a downwards bearing - these stakeholders are individuals from the project pack; purple depicts a sidewards course - project manager head accessories as extra things or contenders. Last but not least, there are weak plans and models for internal stakeholders and light shades and models for those outside the union.

4.2 Overview Description of Data Collected

This study is intended to manage project development opportunities by investigating methods for establishing effective relationships with key stakeholders, as well as empowering an effective project box support and project integration to effectively establish and maintain relationships with the best. participants by refining and evaluating stakeholder circles the first stage in discovering project participants is to go with courses everywhere, outdoors and inside, and sideways. Then, by determining what each individual or collecting needs from the project, as well as determining the drive's overall value to these people or social gatherings, mutuality is demonstrated. By keeping an eye out for these diagrams, you may determine whether the project's connection with its stakeholders and the needs of each party have been well satisfied. This activity is created using a workshop technique with persons from outside the connection who have two or three data points on the project queries and endpoints, regardless of the partnership's turn of events and universe of regulatory difficulties. The information gathered during this party is organized into a multi-page spreadsheet. In open projects, there is no need for a formal leader; rather, the members of these teams are self-organizing and experimental, and all they need is a shared goal to bring them together. The NCTP Framework is made up of four aspects, as shown in Figure: novelty, complexity, technical uncertainty, and change rate. You may distinguish between originality and derivativeness using this method. Product innovation, which can range from improving current commodities to generating wholly new ones, is defined as "derivative" and "new to the world" items. To gain the benefits of uniqueness, projects must have accurate estimations and subsequent project planning and management. It is more difficult to predict how long it will take, how much it will cost, and how long it will take to get it out into the market for "new to the world" things. It is critical to examine characteristics of innovation and marketability in the product development process, such as pricing, time to market, and client acceptance, to enhance the odds of a project's success. The amount and diversity of a project's elements, its interdependencies, and the variety of its stakeholders all impact its complexity, which is determined by the quantity and diversity of its elements, its interdependencies, and the variety of its stakeholders.

4.2.1 Prioritization of Stakeholders

While working with stakeholders, involved project managers should concentrate on their gigantic theory. This may be accomplished by using a simple matrix to assess their influence on your initiatives, taking into consideration factors such as power, premium, impact, and data. We shall concentrate on power and interest in this section.

Without a prioritizing strategy, the project stakeholders that scream the loudest will almost certainly be noticed. This is not the most common way to distribute time. The project manager should not allow the stakeholders to work with them for longer than is necessary. Taking everything into account, the project manager should make fresh judgments on how long to devote resources to each stakeholder. Project managers will find out the ideal strategy for delivering their time with the use of a priority plan. Two main stakeholder credits should be seen: power and interest. If we combine power and interest into a two-by-two focused matrix, it may appear like the illustration below.

Participants in the first quadrant have a high degree of potential and interest. Participants in this category have more authority than those in the other four categories, but they are less concerned about project outcomes. As illustrated by this two-dimensional matrix, the project manager should aggravate the various stakeholders. We will then go to the lower right quadrant. This quadrant's project participants are particularly interested in situations in which they have restricted authority. The project manager should tell these members about their premium level contribution to the project. Because they lack the authority of individuals in the upper right quadrant, the project manager should approach these project participants with the same care as those in the top left quadrant. The main project manager values the ability to spend less time with project participants in this quadrant since they have less energy.

We next go to the top left quadrant. At this stage, we are tracking project stakeholders with a high amount of authority but a low level of interest. Surprisingly, these project members have more authority; in any case, they are unconcerned about the project's arrival. The project manager should pay attention to the individuals in the top left quadrant, since they may be on their way to the upper right quadrant. To go from the top left quadrant to the top right quadrant, all participants in this quadrant must agree that they should have participated more. As a result, the project manager must assure the satisfaction of these stakeholders. Can we finally look at the bottom quadrant on the left? At this time, we are searching for project members with less energy and enthusiasm. As we discovered, project managers should spend their entire time to the project.On this graph, there is one quad-gloat on which the project manager may dedicate a significant amount of effort. Participants in the bottom left quadrant have little control over project outcomes and are uninterested in the project; hence, the project manager should discuss a non-trivial effort with this project team.

It is worth noting that the project manager is now looking at the attendees in the lower left corner. The project manager does not discuss any work with these participants. Some of these stakeholders may be empowered as the project continues. It is also likely that some of these project members will become highly interested as the project proceeds. As a consequence, a wise project manager will filter the team and ensure that it communicates effectively. In other circumstances, the project manager will meet with a group of project participants who are unemployed. The degree of commitment will most often be used to filter the group of participants.

4.2.2 Stakeholder Engagement Strategy

During the second session, all of the stakeholders who have been identified and prioritized are included in the stakeholder engagement process. Stakeholders' roles in the project and their mutual needswhat the stakeholders want from the project and what the project wants from themare utilized as input to the second workshop's decision-making. When this data is supplemented with information on the level of interest and support, a communication strategy can be developed to connect with all of the project's stakeholders and, as a consequence, manage expectations and perceptions. In the first set of studies, the level of interest of the stakeholder(s) is determined, and it may be categorized into five groups ranging from committed to ambiguous to hostile. Secondly, we look at the level of support across stakeholders, which are classified into five groups ranging from active support, non-committal support, and even violent opposition (Civera, 2019). Due to the fact that the stakeholder is both hostile and actively opposed, a different approach must be used than when the stakeholder is both highly engaged and tremendously supportive.

The next step is to get in touch with all of the parties involved. It explains how a message (of any sort) will be deliveredwhether it will be written, oral, formal, or casualas well as who will deliver it and when it will be delivered. Other members of the project team may be more appropriate communication channels than the project manager in certain instances. In certain cases, it may be important for the project manager to assign communication chores to a team member who has greater influence over the audience that will be receiving the message. Each stakeholder's level of interest, as well as their level of support, will determine how often and how often these messages are sent. In the end, it's vital to define the whole content of the message. Providing regular project updates or disclosing problems and how they were resolved are just a few examples of what the message may be. Care must be taken to ensure that the content and tone of the message are compatible with what the stakeholder expects from the project, although this is not an absolute need (Tang, 2012). Even if they lack official authority, the project manager and team may use this knowledge to influence people and results by forming and fostering 'coalitions of support.' Their informal capacity to influence others and results will be enhanced as a result. If project team members are to cooperate with key stakeholders and the project team, they must adjust their personal behaviors in order to work cooperatively and to share knowledge. This necessitates a great deal of cooperation and teamwork. After all stakeholders and members of the project team have agreed on the communications strategy, it is critical to incorporate it in the project timeline. After then, frequent updates on the management of these stakeholders should be included in the project's regular meetings.

4.3 Summary of Description of the response

All of the stakeholders who have been identified and prioritized are included in the stakeholder engagement process during the second session. The second workshop's decision-making is informed by stakeholders' roles in the project and their mutual needswhat stakeholders want from the project and what the project wants from them. When this information is combined with information on the amount of interest and support for the project, a communication plan can be devised to interact with all of the project's stakeholders and, as a result, manage expectations and perceptions. The degree of interest of the stakeholder(s) is established in the first set of research, and it may be classified into five groups, ranging from committed to equivocal to hostile. Second, we examine the amount of support among stakeholders, which is divided into five categories ranging from active support to noncommittal support to outright opposition. Because the stakeholder is hostile and actively opposed, a different strategy is required than when the stakeholder is highly engaged and extremely supportive.

The next step is to contact all of the individuals involved. It describes how a message (of any kind) will be given, including whether it will be written, spoken, formal, or informal, as well as who will deliver it and when. In some cases, other members of the project team may be better communication conduits than the project manager.

4.4 Details of Data Collected

In some situations, it may be necessary for the project manager to delegate communication responsibilities to a team member with more clout within the target audience. The amount of interest and support of each stakeholder will influence how frequently and how regularly these communications are distributed. Finally, it is critical to specify the message's whole content. Regular project updates or reporting challenges and how they were addressed are two examples of what the message may be. Although it is not a must, care must be made to ensure that the message's substance and tone are congruent with what the stakeholder expects from the project. Even though they do not have formal power, the project manager and team can utilize their knowledge to influence people and outcomes by creating and nurturing 'coalitions of support.' As a consequence, their informal power to influence people and achieve outcomes would be increased. If project team members are to work constructively and share knowledge with important stakeholders and the project team, they must change their behaviors. This will need a lot of collaboration and coordination. It is vital to include the communications strategy in the project timetable when all stakeholders and members of the project team have agreed on it. Following that, recurring project meetings should include frequent reports on the management of these stakeholders.

4.5 Data: Graph Observation Analysis

The value put on the Stakeholder CircleTM by the participating organizations, according to the findings, parallels the value placed on the project management profession as a whole. The integration of theory from literature gaps has advantages since it leads to the development of new techniques and information. The profession is projected to benefit from the Stakeholder CircleTM approach and visualization tool by reducing the risk of project failure and the wasting of important resources, both monetary and human. Focusing on connections and understanding how each main stakeholder may benefit from the project results in frequent interaction between the stakeholder and the project, which, among other things, helps to eliminate misunderstandings and keep track of stakeholder expectations. Increases in the number of successful projects should help to increase the profile of project management professionals. The author's Stakeholder CircleTM methodology and visualization tool have been thoroughly tested and enhanced as a consequence of this study. The Stakeholder CircleTM, a tool used by the project team to help stakeholders and others better understand who is critical to the project's success, is used to identify and reference the project's important stakeholders. Because of the analytical process and the simplicity with which the influence of essential stakeholders on the project can be quantified following the conclusion of the project's unique Stakeholder CircleTM, the method and instrument offer significant value. The total efficacy of the Stakeholder CircleTM methodology and visualization tool is enhanced by each component.

We sent a stakeholder engagement survey to our eight component districts' directors and superintendents. Quality, customer service, responsiveness, value for money, consistency, overall satisfaction, efficacy, and significance were among the eight main indicators for which we sought input. We also inquired about how our districts wished to be involved, as well as the effectiveness of our advisory groups. The findings are in, and we are happy to report that they are generally positive, with opportunity for improvement in how we serve districts.

There were 38 people that responded to the survey, and they answered questions on eight different metrics.

Over 80% of respondents evaluated all 8 measures as Good or Excellent.

89 percent of the time, the product is of good or excellent quality.

97 percent or more of the time, you can count on us.

90% of the time, the value for money is good or excellent.

88% or more effective (very effective)

97 percent of customers rate customer service as good or excellent.Very Responsive (96%) or Highly Responsive (96%)

95% of the time, it is critical or extremely critical.

94 percent of people are satisfied or extremely satisfied with their service.

This strategy allows a manageable number of the project's most important stakeholders to be identified and given high priority for identification and prioritization. The software that comes with the procedure makes assigning relative values easier. We look at ways for building an engagement strategy as well as a communications plan that may help us better understand stakeholders' expectations and views for the third component of the approach. The project team gains great benefits both collectively and individually by using the Stakeholder CircleTM strategy and technology. The project team may choose to include persons or organizations in the stakeholder community to obtain the information or support they require. Stakeholders may learn not only about their power and influence but also about how they may assist in the resolution of issues as they arise, by using this tool. Organizations may benefit from a better knowledge of the necessity of project relationship management among project team members, as well as the availability of tools to help them do so. Because all project team members who engaged in the study profited both individually and collectively, it represents an accumulation of an organization's 'knowledge capital.' The organization may also benefit from this newfound knowledge. Another advantage might come from minimizing the number of failed efforts and the money and resources saved as a consequence.

4.6 Summary of the chapter

This chapter speaks about the research and findings of the paper. Failure to complete a project costs businesses millions of dollars in lost income or squandered resources and also contributes to the public opinion that project managers are typically unable to complete projects successfully. This is a significant change in project management, which has historically focused on the most difficult aspects of the work. In today's environment, striking a balance between project control and project relationships is becoming increasingly prevalent. The goal of this study is to refine and assess the Stakeholder CircleTM methodology and visualization tool, which is a critical tool for establishing a link between project success and successful project relationships.

Chapter 5 Conclusion and Recommendation

The goal of the research was to achieve the project's goal, which allows the project to utilize whatever methods or processes are required to achieve the goal. As a consequence, the qualities of a successful manager who interacts with stakeholders to build a good relationship were evaluated in this study. Understanding Project Managers' Perceptions of Stakeholder CircleTM Effectiveness, Identifying the Importance of Stakeholder CircleTM to Manage Stakeholders and Recommending Steps to Implement Stakeholder CircleTM Across Operations were the goals of our research. In addition, we described our data collection in Chapter 3 to complete our study and respond to all of the research questions raised in Chapter 1.

A project was formed to study four unique areas of interest as a starting point for developing the investigation's research questions and objectives. The first study topic's main goal was to uncover the factors that contribute to project success (or failure), as well as the factors that contribute to failure avoidance or advancement. Two research questions were proposed in total. "Does the success of a project hinge on how stakeholders are managed?" This was the first attempt to search the literature for causes for project failures, and it was a failure. This research will look at project failure and how it relates to stakeholder management. Key stakeholders either stopped supporting the project's aims or actively opposed its achievement due to its lack of success or relevance.

The proactive managing of stakeholder expectations was highlighted as a crucial part of project success in both commercial activities and engineering construction projects.

The second study question was, "What are the main aspects of effective stakeholder management?" This question was answered by assessing existing participative management techniques and concepts. In order to construct and build organized and targeted communications inside the project link network, the prototype strategy utilized a variety of stakeholder segregation mechanisms, suitable management tactics, and network theory. From the standpoint of stakeholders, the support of important stakeholders was crucial to the project's success, but there was no obvious mechanism to identify acceptable stakeholders in a timely manner during the project's lifespan (Nasr 2018). It is critical to identify and prioritize existing key stakeholders for the whole project, as well as to adjust communication strategies and communication methods as needed to fulfill their requirements and expectations. Stakeholder CircleTM, a participatory stakeholder management method and visualization tool, was assessed to see if it aligned with the previously described collaborative project strategies. Is it feasible to increase the efficiency of stakeholder management by combining the Stakeholder CircleTM approach with a collaborative viewing tool? "Yes," was the answer to that query. The questionnaire was created with the help of participant feedback. As part of the fourth aim, performance review and refining, the Stakeholder CircleTM technique was used prior to the next round of workshops. Except for two projects, 11 workshops, and three repeats, the third replication produced no fresh proposals for improvement. The purpose of Study 3 was to see if Stakeholder CircleTM was effective. The research aims of establishing how successful the Stakeholder CircleTM was in business and construction projects was met because there were six participants in the study, including two construction projects. One of the building projects adopted Stakeholder CircleTM approaches before the workshops, even though their procedures needed reform. According to the workshop ratings, there was no statistically significant difference between the two types of projects. The research's sixth objective looked into the efficacy of the technique and instrument. The technique for identifying, prioritizing, and engaging stakeholders was deemed beneficial by the majority of those who attended the stakeholder management session, and they stated they would use it again.

The fourth topic focused on the project manager and other team members who stand to benefit the most from implementing the Stakeholder CircleTM. This topic largely focused on the project manager's and project team members' roles. Literature research was undertaken to determine the attributes required to effectively manage and involve project stakeholders (Parmar 2020). To address this research gap, the concept of three dimensions of project management was developed to represent the craft or techniques of project management, the art and science of managing and leading, and an individual's ability and willingness to operate within the performing organization's power and political structure.

5.1 Conclusion

This idea illustrates current work in a desperate location of PM speculation. One of the most sensitive endpoints that must be met for the PM to progress has been identified as stakeholder management. According to the study, identifying the ideal stakeholder at the optimal point of a project's lifecycle has a considerable influence on the chance of project success. It also illustrated the types of limits that project management teams must implement in order to connect with stakeholders more swiftly (Pererva et al. 2021). Setting focused analysis affiliations realized the need to empower new limits and update PM processes to facilitate stakeholder involvement and made the appropriate actions.

5.2 Review of Study aims and Objectives to the data collected

The goal of the research was to achieve the project's goal, which allows the project to utilize whatever methods or processes are required to achieve the goal. As a consequence, the qualities of a successful manager who interacts with stakeholders to build a good relationship were evaluated in this study. Project management is vulnerable to both internal and external forces, despite being a component of the performance organization. When reviewing project deliverables, an organization's long-term strategic objectives must be taken into account. The structure of the organization, as well as the cultural factors that pervade that framework and those stakeholders, will impact managers' and other stakeholders' expectations. Other organizations will influence the initiative's ability to fulfil its objectives. Project managers should update the current approach of who, what, when, and how they communicate the re-enjoyed messaging to each stakeholder clearly into it. This entails including the communication strategy into the project calendar as a whole, as well as covering it through pack social occasions and standard reports.

The benefits of employing this approach and technology stem from the analytical cycle and evaluation process, as well as the ease with which project teams may measure the influence of project participants once the fantastic Stakeholder CircleTM project is concluded. Project teams should re-evaluate this evaluation as a stakeholder area to highlight the unique idea of project cooperation.

Stakeholder management should be regarded an essential component of project teams' risk management plan implementation. Although stakeholder management, particularly communication management, is unrelated to risk management, it does help to a well-planned project. In the same manner that project managers should manage risk, the landmark and visual components of the Stakeholder Engagement Strategy will permit suitable methods to be handled historically and to identify the components of the Stakeholder Engagement Strategy. The Stakeholder CircleTM approach includes the development of specific communication venues for stakeholder feedback.

5.3 Limitations

Incomprehensible comprehension of project management skills, expertise, and experience.

The second gap in the literature was the lack of a defined methodology for identifying acceptable stakeholders at the right stage of the project lifecycle.

5.4 Suggested area for further search

There are certain limitations in this study that we can fill with future research. Here are some of the areas where we can conduct further research or search:

One of the initial gaps in the literature assessment was the lack of an overarching viewpoint on the causes of project failure. In the literature, a framework of related components was uncovered and synthesized that included value delivery, risk management, and relationship management. Project relationship management is critical to a company's capacity to deliver both perceived and actual value. This includes stakeholder management, scope, schedule, cost, and quality risks, as well as delivering value to the organization. The lack of a clear technique for selecting suitable stakeholders at the appropriate point of the project lifecycle was the second gap in the literature. There did not appear to be a strategy, methodology, or organizational culture in place to support a dynamic approach to identifying and managing project stakeholders. As circumstances changed, the use of technology to help the Stakeholder CircleTM made it simpler to examine the project's major stakeholders. By re-evaluating the relative strength, proximity to, and urgency of project stakeholders, a new stakeholder community may be identified and charted in a short amount of time. The third gap was the lack of study on the human characteristics required to build and sustain relationships with key stakeholder groups. To close the skills gap, three levels of expertise had to be established to build each level up to "wisdom," which was the project manager's willingness and capacity to function within the organization's power structures to ensure the project's success.

5.5 Recommendations

The Stakeholder CircleTM methodology and visualization tool are being refined and tested as part of the second topic, which supports the establishment and maintenance of project connections. As the third priority, it is critical to assess the technique's capacity to build and sustain strong project links. Finally, we will consider whether project managers have the ability and willingness to form these relationships on their own or with the assistance of the tool. A qualitative approach was used to conduct this investigation. The findings of this study were compiled using Stakeholder CircleTM iterative refinement cycles, data gathered from interviews, and document analysis. A full case study narrative for each participant project created a complete picture of what happened within the organization and served to clarify the stakeholder profiles that resulted from the data analysis. After the iterative technique refining phase was finished, the study participants made no more negative comments.

The findings of the study may be divided into three categories. Project teams can use the Stakeholder CircleTM to identify "appropriate" stakeholder groups to include in their activities. Identify and priorities stakeholders, as well as their requirements and the best ways to engage them, using the Stakeholder Circle approach. We want to increase the chances of our project's success by employing a technique and technology. The Stakeholder Circle was established to assist the project's management and team in cultivating positive connections with key stakeholders (Parmar et al. 2020). It was then fine-tuned and subjected to extensive testing to determine if it worked. Stakeholder Circle has created a technique and visualization tool to assist project managers and team members in establishing and maintaining relationships with key project stakeholders. The Stakeholder Circle strategy and visualization tool have been found to improve the job of creating and maintaining ties with critical project stakeholders inside Indian medium-sized firms, thereby enhancing project management. Stakeholders can be located both inside and outside the company. External stakeholders are individuals who benefit from the project but are not employees of the company; internal stakeholders are those who work for the company (Pedrini, M. and Ferri 2022).

The project manager is supposed to be in charge of stakeholder groups and individuals. They are in charge of one of their company's most important obligations. For the sake of the project, as well as to reap the benefits of effective stakeholder involvement, which lowers project risk and offers other project-related benefits. The project's decision-making process and activities take into consideration the requirements and expectations of stakeholders, problems are handled as they arise, conflicts of interest are controlled, and a sense of ownership among stakeholders is encouraged. A project is considered successful when it is completed in compliance with all of the project's criteria, including the scope, time frame, and budget (Nguyen et al. 2018). To guarantee a project's success, the project manager must build strong relationships with stakeholders from all backgrounds. Because project success is not only dependent on the efforts of the project team, the engagement of upper-level executives, functional managers, customers, suppliers, contractors, and other third parties often decides whether the project succeeds or fails.

5.6 Summary of the chapter

The examination of the Stakeholder Circle created for each component project and the assessments with different projects resulted in two or three interesting data. The stakeholder networks revealed by the sharpness tool were astonishing, and individuals, in particular, played varied roles and varying degrees of relevance for the projects that they had considered. Various initiatives from nearby locations constantly show varied combinations of persons and relative importance in their stakeholder networks. Decisions on the relevance of each Stakeholder Circle were established based on interpretations of the facts acquired throughout the research into the project association and the performance relationship. These hypotheses had a thorough understanding of the legal basis for requesting the researcher's translations. The idea of using the Stakeholder Circle to obtain information on thoughts on the power structure of the affiliation and the project's connection with the affiliation is quite intriguing and should be pursued. Finally, we can see how this research can aid researchers since it improves the environment in which this new tool was created. The suggestion provides a paradigm for encouraging the use of another PM tool, testing its success, and correspondingly integrating tool enhancement with an effective course on how to use it. As a result, this notion has succeeded to make unambiguous a piece of the proposed data made regarding how stakeholders might be better associated with projects and thus has reasonably enlarged this issue.

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Questionnaire

Part1: Demographic Details

1. Age

2. Gender

3. Qualification

4. Experience in the field

Part2: Research Question 1: What are the Perceptions of the Project Managers on Effectiveness of stakeholder Circle to manage the stakeholders in India IT Sector?

Why stakeholder management is important for any organization?

Does stakeholder management have an impact on project success?

What are the key characteristics of stakeholder management?

What are some easy wins for this stakeholder?

What steps could we take to respond to the needs of stakeholders?

How eager and capable are the project manager and project team to connect with their key stakeholders using the Stakeholder CircleTM methodology and visualization tool?

Part3: Research Question 2: What are the recommendations to implement Stakeholder CircleTM across the operations in IT Sectors?

What would you strongly recommend to project manager to manage stakeholder relationship effectively?

What solution can be effective for long-term problems or concerns?

How much that will be beneficial for IT sector and what changes we can see after implementing that idea in IT sector?

Does using a methodology backed by a technology like the Stakeholder CircleTM improve stakeholder management effectiveness?

If any case that idea may not be work and organization will face a loss then how much loss organization will face because of non-effective stakeholder relation management and do you have any backup plan for that case?

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