Managing for Stakeholders: The Role of Stakeholder-Based Management in Project Success

Today, project management practices play a key role in different industries and sectors. Project management ispromoted as an organizational strategic component that leads innovation, creates value and turns vision intoreality. Despite the importance of projects and project management their high rate of failures and challenges is amajor concern of both industry and academia. Among the reasons that affect project outcomes, stakeholderinfluential attributes and more importantly, their understanding and effective utilization and management areidentified as the key to project success. This study utilizes the body of knowledge developed in the field ofproject management and uses stakeholder theory combined with a number of complementary theories to achieveits goals and objectives. The study moves beyond the traditional power-based frameworks employing six keyinfluential attributes to examine their direct and mediating effects on project success. The quantitative surveydata are analyzed using SEM statistical techniques and procedures to produce research results. The researchresults have led to the development of a new typology of stakeholder influential attributes (TSIA) and astakeholder-based project management model (SBPMM) that aid managing for stakeholders’ strategy andprinciple.