1.0 Background and Real-Life Case
It is a fundamental tool in assessing potential investors in real estate business since it is a field a wide range of possible stakeholders. Evidently, citizens, non-profitable organization, and local government are essentially interested in the sector. Importantly, this report focuses on a situation where a real estate seeks to initiate a housing project.
2.0 Importance of a Stakeholder’s Grid
In this case, therefore, the grid helps to categorize such potential stakeholders and single out those with a substantial ability and interest in the sector. As a result, you can prioritize some as having high potential and hence should appear at the top of the priority list. Furthermore, it helps to identify the interest of various people and therefore work to improve the quality of your service delivery and product
3.0 Hypothetical Report Grid in Real Estate
Latent Stakeholders (Keep Satisfied Segment)
In this section, firstly, ensure that the financiers are pleased with the operations, the product provided and the progress made when it comes to construction. These are the people who are involved in crediting the project and there has more power. Secondly, the customers should also be considered as they are the one’s buying the houses. Your focus should be ensuring that their needs are met.
ii. Promoters (Manage Closely)
The employees should be monitored at close range to make sure that they do not deviate from the objectives of the company. They should work to deliver better and efficient services to the clients as well as producing credible buildings.
iii. Apathetic (Monitor)
It is important to keep a checklist on how competitors may be operating. This is because they can spark high competition to the project leading to its failure and the collapse of the business.
iv. Defenders (Keep Informed)
Keep all stakeholders informed of the progress, plans, and new objectives that were not initially in the plan. This is to help you get feedback from them and hence improve your work. After following the steps outlined on this grid, the number of contracts will of course increase. This includes people purchasing the already built houses and those that are underway.
4.0 Next Plan
As a project manager spearheading a real estate company, I will ensure this grid is not only followed such that every stakeholder is handled in line with its stipulation. The information will be provided to all stakeholders regardless of their position in the company. This will help improve the efficiency of the project and increase the trust all parties concerned.
Work Cited
Friedrichsen, Nele, Christine Brandstätt, and Gert Brunekreeft. "The Need For More Flexibility In The Regulation Of Smart Grids - Stakeholder Involvement." International Economics & Economic Policy 11.1/2 (2014): 261-275. Business Source Complete. Web. 16 Apr. 2016.
Zhao, Xiaoli, et al. "To What Extent Does Wind Power Deployment Affect Vested Interests? A Case Study Of The Northeast China Grid." Energy Policy 63.(2013): 814-822. ScienceDirect. Web. 16 Apr. 2016.
