Improving Project Outcomes through
Active Engagement and Value Creation
FEATURED PAPER
By Dr. Vijaya Kumar Umasekar
UAE
ABSTRACT
Inside a regenerative framework, stakeholder networks in the roundabout economy (CE) handle maintainable creation and utilization. Accordingly, an examination of stakeholder communications inside these organizations offers significant experiences into the prompt estimates that ventures should accept to advance more noteworthy congruity between human action and the climate. Regardless, the administration writing on CE doesn’t give a reasonable insightful system to stakeholder support. To address this lack, we played out a thorough evaluation of the writing that included subjective substance examination of the board research on CE to unwind the complexities of stakeholder cooperations in CE. By considering the moral, key, and commonsense parts of stakeholder contribution in CE, we can observe specific targets, activities, and results. While even minded stakeholder commitment prevails in our example, the review shows that to exploit stakeholder relationship collaborations in CE, embracing moral and key stakeholder involvement is similarly critical. Our characterization of stakeholder association in CE offers scholastics and directors an outline and features the helpfulness of the stakeholder network rationale driving cooperative endeavors to address ecological worries like biodiversity misfortune and environmental change. In this thus, we add to the collection of information on the convergence of stakeholder commitment and CE the executives writing and give a structure to additional examination around here.
Keywords: Stakeholder-Centric Lean Strategies, Project Outcomes, Active Engagement, Value Creation, Lean Principles, Stakeholder Management, Project Management, Collaboration, Communication Strategies, Stakeholder Identification
INTRODUCTION
Basic people with a personal stake in the execution of a venture are stakeholders. They comprise of people or gatherings who are probably going to be impacted or possibly be impacted by the consequences of the continuous drives (PMI, 2013). The primary accentuation of this examination was on midlevel stakeholders, who act as the vital clients of a coordinated administration framework (IMS) and its controlling strategies. Besides, they have the best potential to create and apply command over the organization’s greatest net revenue. The obligation of mid-level stakeholders is to guarantee that development project arranging and execution are sufficiently directed. Mid-level stakeholders, which don’t include the association’s top administration or junior administration, bear significant obligation regarding project oversight, client collaboration, issue the board, and stewardship of the tasks’ spending plan, timetable, security, and quality prerequisites. These stakeholders report to the association’s high-level administration, which practices vital initiative. Moreover, they assume a urgent part in giving assistance to the improvement of yearly field-tested strategies, which act as guidelines for how associations work and relieve chances.
In a few administration texts, stakeholder contribution is viewed as a significant methodology for improving corporate cycles (Mitchell et al., 2020). Numerous chiefs likewise consider stakeholder commitment to be an even minded strategy for expecting and settling the numerous moral hardships that stakeholders experience over corporate administration (Cennamo et al., 2012). Albeit the idea of including stakeholders in the goal of these difficulties might be very charming to various chiefs, certain analysts fight that focusing on the goal of the information-based issues that support these difficulties — to be specific gamble, vagueness, intricacy, dubiousness, and vulnerability — through stakeholder commitment is fundamental if mid-level administrators are to defy them. It is a reality that the development area is frequently faced with the test of settling these five information-based issues through stakeholder-drove commitment and associations (Gareis et al., 2013).
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How to cite this paper: Umasekar, V. K. (2023). Stakeholder-Centric Lean Strategies: Improving Project Outcomes through Active Engagement and Value Creation; PM World Journal, Vol. XIII, Issue I, January. Available online at https://pmworldlibrary.net/wp-content/uploads/2024/01/pmwj137-Jan2024-Kumar-Stakeholder-Centric-Lean-Strategies.pdf
About the Author
Dr. Vijaya Kumar Umasekar
UAE
Dr. Vijaya Kumar Umasekar, D.Litt, Ph.D, MBA, M.Tech, P.Engr is a post-doctoral scholar and experienced Sr. Project Engineer and Professional with more than 18+yrs in the oil and gas EPC sector. He holds a master’s degree in mechanical engineering from RNTU university, MBA in project Management from Alagappa Institute of Management and Doctoral degree in Project Management from IIC university of Technology, India.
He is currently pursuing post-doctoral research at Azteca University (Mexico / International) and DBA from EIASM Europe. He holds PMP, RMP & PGMP certifications from PMI and Prince2 (Foundation and practioner), among other various accredited international project management (US & UK) certifications; he is a also a certified professional business analyst from IIBA-Canada and currently a member of various prestigious institution like
- IME-India – Licensed chartered engineer
- IEI-India – Licensed chartered engineer
- ECI-India – Professional engineer
- PMI- UAE – Member
Dr. Vijaya Kumar Umasekar is currently associated with NMDC-UAE a leading EPC oil and gas contracting giant based in UAE, engaged as Sr. Project Engineer with work primarily focused on planning, managing, monitoring & execution of large-scale offshore oil and gas EPC projects for leading state owned oil companies like ADNOC and ARAMCO. During his professional journey he has successfully executed various COMPLEX offshore projects and sharpened his project management, complex engineering and leadership skills to global level.
He strongly believes that communication, active engagement of stakeholders and project management are the key pillars of success in delivering large scale complex projects. Apart from his professional carrier he has published various research papers about project management in the oil and gas sectors in different international journals and currently is co-author of positions for 2 books which are under publication.
He is also passionate about international business, project management, lean, agile and mentoring numerous students across India for research & seeking suitable opportunities globally to take his professional journey to next level. Dr. Kumar can be contacted at vijayultra27@gmail.com
