MANGT 510 Prospective Students
Sample Syllabus
Sample Lesson
Introduction
2.1 Strategic Management
2.1.1 Formulating, Implementing, and Evaluating
2.1.2 Cross-Functional Decisions
2.1.3 Achieving Corporate Objectives
2.2 Strategic Management Process Flow Chart
2.2.1 Formulating Strategies
Conducting an External Audit
Performing an Internal Audit
Establishing Long-Term Objectives
Generating, Evaluating, and Selecting Strategies
2.2.2 Implementing Strategies
Managerial and Financial
Technological and Functional
Final Words
Measuring and Evaluating Performance
Strategic Management Road Map
2.4 Stakeholder Management
2.4.1 Identifying Project Stakeholders
Clients
Competitors and Suppliers
Intervenor Groups
Top Management and Accounting
Functional Managers and Project Team Members
2.4.2 Managing Stakeholders
Assess the Environment
Managing Stakeholders--2. Identify the Goals of the Principal Actors
Assess Your Own Capabilities
Develop Solutions
Test and Refine the Solution
Stakeholder Management Cycle
2.5 Project Screening and Selection Approaches
2.5.2 Simple Scoring Model
2.5.3 Profile Models
2.5.4 Financial Models
Net Present Value
Internal Rate of Return
Picking the Selection Approach That Is Right for You

Identifying Project Stakeholders--Functional Managers and Project Team Members

Functional Managers

The functional managers who occupy line positions within the traditional chain of command represent an important stakeholder group that project managers must acknowledge. Most projects are staffed by individuals who are essentially on loan from their functional departments. In fact, in many cases, project team members may only have part-time appointments to the team, while their functional managers expect 20 hours of work out of them per week in performing their functional responsibilities. This situation serves to create a good deal of confusion, conflict of interest, and seriously divided loyalties among team members, particularly when their only performance evaluation is conducted by the functional manager rather than the project manager. In terms of simple self-survival, team members are likely to maintain closer allegiance to their functional group rather than the project team.

Project managers need to appreciate the power of the organization's functional managers as a stakeholder group. Functional managers, like the accountants, are not usually out to actively torpedo project development. Rather, they have loyalty to their functional roles and they optimize their actions and utilization of their resources in respect to the measurements that are set to them within the traditional organizational hierarchy. Nevertheless, as a formidable stakeholder group, functional managers need to be treated with due consideration by project managers.

Project Team Members

The project team obviously has a tremendous stake in the project's outcome. As noted above, although they may have a divided sense of loyalty between the project and their functional group, in many companies these team members volunteered to serve on the project and are, hopefully, receiving the sorts of challenging work assignments and opportunities for growth that will motivate them to perform effectively. Just as the top management group and the accountants have their priorities, the project team's concerns focus on the need for as much time as the project manager can secure for them. Fast-track schedules mean deadlines: project teams prefer to avoid them. Further, the project team wants the client to "lock in" to project specifications as early as possible. It is much easier for project team members to operate within this environment if they are reasonably sure that the client will not be changing the specifications and asking for new features or additions to the product downstream.