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Obstacles and challenges in applying stakeholder analysis to infrastructure projects

Obstacles and challenges in applying stakeholder analysis to infrastructure projects Public involvement is essential in the creation of effective local strategies for the development of a sustainable built environment, yet there has been little research on stakeholder motivation and engagement in the creation of infrastructure-project value, in the entire life cycle of a given project, while different markets show that overlooking stakeholders can negatively affect the success of an infrastructure project. The purpose of this paper is to fill the theory-practice gap that has been discerned, and thus study how early public involvement determines the success of an infrastructure project, which is identified with its value creation (effectiveness, sustainability and utility).Design/methodology/approachThis research entails a combination of methods. A case study analysis allowed observation of the role the stakeholders play and of how the relationships, perspectives, expectations and risks, along with other soft issues, continue to affect projects. The case study required comprehensive examination of project documentation and conduction of interviews. To collect data, focused group interviews and semi-structured interviews were used, supported with direct questionnaire surveys.FindingsThe study provides evidence that early public engagement can contribute to infrastructure-project value (effectiveness, sustainability and utility). Practically speaking, the stakeholder analysis performed allowed proposal of a general stakeholder analysis framework for infrastructure projects. It can be implemented at each investment phase of the project life cycle, since stakeholders and their motivation may develop and/or change over time, which necessitates development of proper managerial strategies. The findings highlight the opportunities and the challenges faced by stakeholder management.Research limitations/implicationsThe limitation of this study derives from the fact that the sample size was small, which was necessary for an in-depth qualitative research and application of the case study method. The observations were made on a selected case study, within a limited period of time, thus the context of the analysis as well as the stakeholder perception was subject to possible change. The research limitations concern the provisional nature of the information obtained, the cross-sectional nature of the analysis itself, and, finally, the inability to predict all future events. Ultimately, stakeholder mapping was performed for the operational phase of the investment exclusively, while the analysis was limited to identification and classification of the stakeholders, including their relationship with the project.Practical implicationsThe research conclusions provide useful input for future research on development of effective strategies for management of the shareholders that are related to a given infrastructure project, in order to achieve project success. Simultaneously, from a property perspective, the research has contributed to a better understanding of the importance of infrastructure, on the part of real estate stakeholders.Social implicationsApplication of the approach proposed in the study may contribute to early development and implementation of appropriate trust-building processes. The building of relationships between stakeholders enables checks and balances, promotes short- and long-term project benefits, and increases the value of a project.Originality/valueThe novelty of the research consists in the connection, as part of infrastructure projects, of the theory of consumption values and the concept of an investment cycle with the framework of stakeholder analysis. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Property Investment & Finance Emerald Publishing

Obstacles and challenges in applying stakeholder analysis to infrastructure projects

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Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
1463-578X
DOI
10.1108/jpif-03-2019-0037
Publisher site
See Article on Publisher Site

Abstract

Public involvement is essential in the creation of effective local strategies for the development of a sustainable built environment, yet there has been little research on stakeholder motivation and engagement in the creation of infrastructure-project value, in the entire life cycle of a given project, while different markets show that overlooking stakeholders can negatively affect the success of an infrastructure project. The purpose of this paper is to fill the theory-practice gap that has been discerned, and thus study how early public involvement determines the success of an infrastructure project, which is identified with its value creation (effectiveness, sustainability and utility).Design/methodology/approachThis research entails a combination of methods. A case study analysis allowed observation of the role the stakeholders play and of how the relationships, perspectives, expectations and risks, along with other soft issues, continue to affect projects. The case study required comprehensive examination of project documentation and conduction of interviews. To collect data, focused group interviews and semi-structured interviews were used, supported with direct questionnaire surveys.FindingsThe study provides evidence that early public engagement can contribute to infrastructure-project value (effectiveness, sustainability and utility). Practically speaking, the stakeholder analysis performed allowed proposal of a general stakeholder analysis framework for infrastructure projects. It can be implemented at each investment phase of the project life cycle, since stakeholders and their motivation may develop and/or change over time, which necessitates development of proper managerial strategies. The findings highlight the opportunities and the challenges faced by stakeholder management.Research limitations/implicationsThe limitation of this study derives from the fact that the sample size was small, which was necessary for an in-depth qualitative research and application of the case study method. The observations were made on a selected case study, within a limited period of time, thus the context of the analysis as well as the stakeholder perception was subject to possible change. The research limitations concern the provisional nature of the information obtained, the cross-sectional nature of the analysis itself, and, finally, the inability to predict all future events. Ultimately, stakeholder mapping was performed for the operational phase of the investment exclusively, while the analysis was limited to identification and classification of the stakeholders, including their relationship with the project.Practical implicationsThe research conclusions provide useful input for future research on development of effective strategies for management of the shareholders that are related to a given infrastructure project, in order to achieve project success. Simultaneously, from a property perspective, the research has contributed to a better understanding of the importance of infrastructure, on the part of real estate stakeholders.Social implicationsApplication of the approach proposed in the study may contribute to early development and implementation of appropriate trust-building processes. The building of relationships between stakeholders enables checks and balances, promotes short- and long-term project benefits, and increases the value of a project.Originality/valueThe novelty of the research consists in the connection, as part of infrastructure projects, of the theory of consumption values and the concept of an investment cycle with the framework of stakeholder analysis.

Journal

Journal of Property Investment & FinanceEmerald Publishing

Published: Mar 15, 2021

Keywords: Effectiveness; Sustainability; Transportation; Infrastructure; Investment management; Stakeholder analysis

References