THE IMPACT OF STAKEHOLDER MANAGEMENT ON PROJECT SUCCESS
- Project Research
- 1-5 Chapters
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- Recommended for : Student Researchers
- NGN 3000
Abstract: This research investigates the impact of stakeholder management on project success, with objectives to: 1) evaluate the importance of stakeholder identification and analysis, 2) assess the effectiveness of stakeholder communication strategies, and 3) determine the role of stakeholder engagement in project outcomes. A survey design was chosen to gather detailed information from project managers and stakeholders. Using Taro Yamane's formula, a sample size of 360 respondents was determined, ensuring a 95% confidence level and a 5% margin of error. The study was conducted in the oil and gas sector in Kano, where stakeholder management is critical due to the industry's complexity and high stakes. The reliability coefficient score of the survey instrument was 0.88, indicating high reliability. Findings demonstrated that proactive stakeholder management, involving regular communication and engagement, leads to higher project success rates. Recommendations include developing comprehensive stakeholder management plans and fostering a culture of transparency and collaboration.
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