Dependency structure matrix modelling for stakeholder value networks

Abstract

This paper develops a qualitative/quantitative network approach, namely a “Stakeholder Value Network”, to understand the impacts of both direct and indirect relationships between stakeholders on the success of large engineering projects. Specifically, this paper explores the feasibility and benefit of applying the Dependency Structure Matrix (DSM) as the modelling platform for Stakeholder Value Networks. Further, an efficient algorithm is designed for computing indirect stakeholder influence and implemented in a case study for a multinational energy project. The results derived from this analysis are able to answer three fundamental questions for stakeholder management: What are the critical paths/themes for a project to engage other stakeholders? Who are the most important stakeholders for a project? How can the complexity of a large relationship network be reasonably managed?