Effective Communication Management : A Key to Stakeholder Relationship Management in Project-Based Organizations

Efficient stakeholder relationship management is an essential requirement for any successful organization. It is a decisive factor and has a direct impact on total environment and profit results of the organization. A methodological approach is needed for proactive stakeholder relationship management in view of the varied stakeholders who have altogether different sorts of expectations and needs. Effective communication management can serve as a strong tool to systematically manage the stakeholder relationships at multiple levels. The main objective of the study is to explore the use of effective communication in stakeholder relationship management and also to find out a methodological framework to use communication as an effective tool for managing successful stakeholder relationships at all levels. The study is conducted through a questionnaire survey and structured interviews of stakeholders working at different project organizations. The results indicate applications of communication in managing multiple functions of stakeholder management. A framework for effective communication management is suggested as a part of the results which can be used by practitioners in all types of project organizations for successful stakeholder relationship management