Mathematical Model Formulation of Stakeholder Management Strategies in Software Engineering Projects

Abstract

Stakeholder management is the process of identifying, analyzing, and engaging people who have either positive or negative influence in a project. The people involved in any project are called stakeholders and all projects have stakeholders irrespective of the size. Managing these stakeholders is a major function of project managers especially the most important ones because their action will determine whether the project is successful or not. Literatures have outlined different strategies of managing stakeholders which lies around stakeholder identification. This paper formulated mathematical model to determine the most important variable in managing stakeholders. In conclusion, the carrying capacity of a project should be considered alongside other stakeholder management strategies like active listening to bring the project to a successful completion.