THE IMPACT OF STAKEHOLDER ENGAGEMENT ON PROJECT SUCCESS
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- NGN 5000
Abstract: This research investigates the impact of stakeholder engagement on project success, with objectives to: 1) assess the importance of stakeholder engagement, 2) evaluate the impact of different engagement strategies, and 3) recommend best practices for effective stakeholder engagement. A survey design was chosen to collect data from project managers and stakeholders. Using Taro Yamane's formula, a sample size of 350 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 Port Harcourt, where stakeholder engagement is critical. The reliability coefficient score of the survey instrument was 0.87, indicating high reliability. Findings revealed that proactive stakeholder engagement, including regular communication and involvement in decision-making, significantly enhances project success. Recommendations include developing comprehensive stakeholder engagement plans, providing training on engagement strategies, and ensuring continuous and transparent communication with stakeholders.
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