Stakeholder management and its role on value creation in construction projects: A cross-case analysis

Efficient management of project stakeholders is important to improve the performance of construction project. This study, therefore, intends to map the role of the stakeholder management process on the value creation in the projects. Initially, a detailed literature review was undertaken that put forth certain performance attributes under seven value parameters in construction projects, i.e., cost optimization, time saving, quality improvement, performance improvement, operational efficiency, environmental benefits, and social incentives to cover both short-term and long-term performance attributes. Next, through a semi-structured interview on two metro-rail projects, 26 indicators were identified to evaluate the stakeholder management process. The cross-case analysis of the two case projects revealed the role of stakeholder management quantitative indicators (QIs) in fulfilling the project performance attribute, which aids the value of the project. The findings of this study serve two purposes. First, it provides a set of indicators to the planning managers which can be used to optimize and improve stakeholder management process. Second, the developed conceptual model shows the relation of specific QIs with the value parameters, allowing the managers to look into possible avenues to improve the overall project performance.