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 is promoted as an organizational strategic component that leads innovation, creates value and turns vision into reality. Despite the importance of projects and project management their high rate of failures and challenges is a major concern of both industry and academia. Among the reasons that affect project outcomes, stakeholder influential attributes and more importantly, their understanding and effective utilization and management are identified as the key to project success. This study utilizes the body of knowledge developed in the field of project management and uses stakeholder theory combined with a number of complementary theories to achieve its goals and objectives. The study moves beyond the traditional power-based frameworks employing six key influential attributes to examine their direct and mediating effects on project success. The quantitative survey data are analyzed using SEM statistical techniques and procedures to produce research results. The research results have led to the development of a new typology of stakeholder influential attributes (TSIA) and a stakeholder-based project management model (SBPMM) that aid managing for stakeholders’ strategy and principle