An analysis of the effects of stakeholders management on IT project risks using Delphi and design of experiments methods

Abstract

PurposeThis study aims to evaluate how stakeholders affect project risks by analyzing the connection between stakeholder management and risk management in the information technology (IT) project context.Design/methodology/approachUsing the Delphi method, interviews with IT project experts were conducted to examine four factors concerning stakeholder management and define probabilities for three risk variables. The design of experiments (DoE) method was applied for the design of the research instrument and data analysis.FindingsStakeholder engagement and communication with stakeholders have significant influence on the occurrence of negative risks, opportunities and the development of contingency strategies. These results provide project leaders with relevant data that better guide actions toward stakeholders and enhance project success probability.Originality/valueThis study clarifies important aspects of two main project management areas – stakeholder and risk management – in the IT projects context. This research also presented an unusual application for the DoE method which allows the subjective variables analysis by statistical tools and enables to explore factor influences on real project situations.

A qualitative approach to investigate stakeholders' engagement in construction projects

“….". Findings agree with Altameem (2015), Ovadia (2018), Nguyen and Mohamed (2021) and Figueiredo-Filho et al (2021). Altameem (2015) and Ovadia (2018) discovered that successful consensus between stakeholders via effective communications could mitigate crisis among engaged stakeholders in construction projects.…”

“…Haywood et al . (2019) and Figueiredo-Filho et al . (2021) affirmed that stakeholder platforms are created to strengthen and encourage partnerships.…”

“…For this study, the stakeholders include the project manager, client/employer, supervising ministry/department/ agency, contracting firms, sub-contracting firms/suppliers, project management members/ consultants, and financiers/sponsors, in line with Othman and Abdellatif's (2011) assertion. Haywood et al (2019) and Figueiredo-Filho et al (2021) affirmed that stakeholder platforms are created to strengthen and encourage partnerships. One of the possible outcomes will be optimal construction project performance.…”

“…Nguyen and Mohamed (2021) recommended effective stakeholder management by empowering stakeholders to participate in decision-making and implement a governance system. Others are effective communication mechanisms, building a good relationship with stakeholders, stakeholders' opinions in decision-making and detailed descriptions of project objectives (Figueiredo-Filho et al ., 2021). The stakeholder assists managers in addressing each stakeholder effectively and achieving better replies that may integrate the project delivery (Nguyen and Mohamed, 2021).…”

Critical managerial measures on financial risks of sustainable public–private partnership projects: a PRISMA review

“…The utilization of technological gadgets and software to manage financial risks minimize the mismanagement of project funds. In addition, the application of innovative and high technologies makes it easy for cost management of PPP projects (Figueiredo Filho et al , 2022). Thus, technology measures are the techniques and tools that assist project teams in designing, implementing and monitoring the progress of the policies and processes of PPP projects.…”