Game Theory Approach to Stakeholder Management in Small-Scaled Projects

Abstract

The principles of Game Theory and the games that emerge as a result
 are academically intriguing and can help us consider various strategies for
 interacting with the people around, especially those in the professional settings.
 Effective communication has always been a key to building a successful
 project management process. This research serves as an attempt
 to close the gap between game-theoretic way of thinking and existing project
 management models. In more detail, my research aims at creating a
 consistent framework for a stakeholder analysis, implementing some tactics,
 tools and techniques from mathematical analysis of cooperation and
 conflict. The research goal is going to be achieved by implementing the
 bounded ethnography method based on inductive approach. The results of
 the study elaborate on the possible applicability and significance of Game
 Theory in the project environment and provide project managers with a
 powerful extension of traditional stakeholder analysis. Generated Stakeholder
 Calibration Framework (SCF) is the final research outcome.