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Creating Effective Efforts

Managing Stakeholder Value

Handbook of Engineering Systems Design

Abstract

This chapter reviews stakeholder value management approaches from project management and reflects on how these approaches might enrich current practices in the design of engineering systems. Projects are complex social systems involving many stakeholders, and subsequently stakeholder value management approaches have been a focus for some time. It is essential to be able to identify the main stakeholders, understand their needs, and engage them throughout the project. Five important project management themes related to stakeholder value creation are explored: project definition, project governance, project delivery, contractual relationships, and project outcome transfer. We argue that all of them are highly relevant when organising effective interventions in engineering systems, and many interventions will take the shape of projects. While project value is highly subjective, varies from one stakeholder to the next, dynamically evolves throughout the life of a project, and generates tensions, approaches, and practices to managing the project value’s main pillars – value in context, value creation and co-creation, and value delivery and capture can support the achievement of project performance and value.

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Authors and Affiliations

  1. Department of Management, University of Quebec in Montreal, Montreal, Canada

    Alejandro Romero-Torres

  2. Department of Management, HEC Montreal, Montreal, Canada

    Maude Brunet

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  1. Alejandro Romero-Torres
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  2. Maude Brunet
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Correspondence to Alejandro Romero-Torres .

Editor information

Editors and Affiliations

  1. Department of Technology, Management and Economics, DTU- Technical University of Denmark, Lyngby, Denmark

    Anja Maier

  2. Department of Technology, Management and Economics, DTU- Technical University of Denmark, Lyngby, Denmark

    Josef Oehmen

  3. Philosophy Department, Delft University of Technology, Delft, Zuid-Holland, The Netherlands

    Pieter E. Vermaas

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Romero-Torres, A., Brunet, M. (2022). Creating Effective Efforts. In: Maier, A., Oehmen, J., Vermaas, P.E. (eds) Handbook of Engineering Systems Design. Springer, Cham. https://doi.org/10.1007/978-3-030-46054-9_26-2

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  • DOI: https://doi.org/10.1007/978-3-030-46054-9_26-2

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-030-46054-9

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  1. Latest

    Creating Effective Efforts: Managing Stakeholder Value
    Published:
    06 January 2023

    DOI: https://doi.org/10.1007/978-3-030-46054-9_26-4

  2. Creating Effective Efforts: Managing Stakeholder Value
    Published:
    10 May 2022

    DOI: https://doi.org/10.1007/978-3-030-46054-9_26-3

  3. Creating Effective Efforts
    Published:
    13 February 2022

    DOI: https://doi.org/10.1007/978-3-030-46054-9_26-2

  4. Original

    Creating Effective Efforts
    Published:
    05 October 2021

    DOI: https://doi.org/10.1007/978-3-030-46054-9_26-1

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