The paper "Stakeholder Management Performance of Heathrow Airport " is an outstanding example of a management term paper. Heathrow Airport is the UK's largest airport and busiest airport globally. With the aim of enhancing their services, the construction of Terminal 5 was initiated in 1986 and completed in 2008. The main aim was to implement the project and enhance the passenger handling capacity. Terminal 5 would enable the airport to handle an extra 30 million passengers annually. The project was estimated to cost £ 4.2B and would have a payback of 8 years.
To start the project, the British Airport Authority took a survey among 70,000 annually to determine the new terminal needs. British Airports Authority (BAA) engaged stakeholders for a long time involving a public inquiry which lasted for 4 years. There were also continuous engagements with different stakeholders. Despite this, the failure to fully engage in working during all phases of the project led to challenges during the opening day (Brady & Davies, 2010). This report analysis stakeholder theory and its application with engaging stakeholder management in large projects based on Heathrow Terminal 5.
The report starts with the literature on stakeholder theory and its use in stakeholder management and engagement. This is followed by the stakeholder management performance of the Heathrow Terminal 5 and the stakeholders mapping. The report then analysis levels of success in managing internal and external stakeholders during the project. The degree to which stakeholder issues increased project complexity is also looked at in relation to Heathrow Terminal 5. Lastly, the report concludes with project performance in managing its stakeholders based on the literature. Literature review on stakeholder theory and its application to the engagement with and management of stakeholders in large projects and programs Bourne & Walker (2008) asserts that without the stakeholder's support, a project cannot be successful.
Stakeholders are a vital group who ensures success for the organisation and the project (Greenwood, 2007). This is a group that has a classifiable relationship with the organisation (Bourne & Walker, 2008).
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