A comparative analysis of project management delivery in the financial sector: the role of stakeholders

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The objective of this study is to examine the role stakeholders play in the delivery of financial products and service packages. To achieve this objective, the study focused on identifying the stakeholders of the financial services industry, and they included employees and management, customers and clients, competing financial institutions, regulatory agencies, contractors and consultants, civil society groups and community leadership, and the general public. The study also focused on establishing the roles performed by the various constituents towards the development and delivery of financial products and services. Another area explored was the critical success factors for effective management of stakeholders within the financial services industry. Lastly, challenges inherent in the management of stakeholders towards project delivery were examined. The study targeted employees within five (5) financial institutions in the Sunyani Municipality of the Brong Ahafo region of Ghana, and comprised 50 employees. A structured survey was used to collect data from respondents and information gathered on their views was analyzed and the results attained revealed that regulatory agencies, customers and clients, and employees and management were considered to be the most important stakeholder groups. The study also established the need to appreciate certain factors that are critical for the successful management of stakeholder. It further exposed the challenges inherent in managing stakeholders, with respondents agreeing that unplanned changes in project scope and design as well as poor stakeholder representation in decision making were the major challenges faced in product and service design and delivery. The study concluded with recommendations for improving stakeholder engagement practices and suggestions for future studies in the study area.
A thesis submitted to the Department of Construction Technology and Management, in partial fulfillment of the requirement for the Award of Master of Science Degree in Project Management.
Comparative analysis, Project management delivery, Financial sector