Managing Stakeholders Diversity in Determining Project Success : A Stakeholders Matrix Approach

Various project stakeholders, scholars and even project management practitioners will give different views on project success for the same project. The varied views have often led to confusion and doubts as to whether project success has been achieved or not. The traditional perception of equating project success to the triple constraints of time, budget and scope has been challenged time and again. The paper explores different views on project success as espoused by various scholars and project management practitioners. Astake holder’s matrix method where the relative contribution of various stakeholders is considered is recommended. In this method the contribution of each stakeholder is considered in a power - interest matrix. The approach proposes a method that helps to accord relative recognition to various project stakeholders, provides for an objective criterion of determining project success and will enhance the participation of key stakeholders in the project management process