The principles of Game Theory and the games that emerge as a result are academically intriguing and can help us consider various strategies for interacting with the people around, especially those in the professional settings. Effective communication has always been a key to building a successful project management process. This research serves as an attempt to close the gap between game-theoretic way of thinking and existing project management models. In more detail, my research aims at creating a consistent framework for a stakeholder analysis, implementing some tactics, tools and techniques from mathematical analysis of cooperation and conflict. The research goal is going to be achieved by implementing the bounded ethnography method based on inductive approach. The results of the study elaborate on the possible applicability and significance of Game Theory in the project environment and provide project managers with a powerful extension of traditional stakeholder analysis. Generated Stakeholder Calibration Framework (SCF) is the final research outcome.
game theory, project management, communication, stakeholders, small-scaled projects, framework, Lancaster University
CHAPTER 1. INTRODUCTION
1.1. Study background
Today's global economy can be characterized as being chaotic and competitive at the same time [32]. Modern successful organizations are constantly ready to fight for profit, human resources, market position and other temporary advantages to gain long-term benefits [4]. For example, Jack Welch suggests that business is all about winning [52]. However current business environment generates even more obstacles to achieve such goal. Increasing information uncertainty, continuous globalization and demanding technological progress requires the company to have instant reaction, smooth communication process and creative approach for making a decision. Project management discipline possess the range of various theoretical models, methods, tools and best practices to overcome these business hurdles and generate competitive advantage [46].
The next step to accomplish previously mentioned organizational goal seems straightforward and logical. Company should break down the concept of project management to define where is the line between successful and failed projects [39].
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