Stakeholders Management and Project Performance of Oil and Gas Firms in Rivers State
Patrick, Nestor Aweleoma
ugbehnestor@gmail.com ORCID ID: 0009-0006-7939-1797
Department of Management, University of Port Harcourt, Nigeria.
Abstract
The research work investigated Stakeholders management and project performance of the oil and gas firms in Rivers State. One of the dimensions of stakeholder management that was used is needs identification of stakeholders. Cost efficiency, Completion time were used as measure of project performance, while Local Content Monitoring Board was used as a moderating variable between stakeholder management and project performance of Oil and Gas Firms in Rivers State. The quasi-experimental design was applied to the study. The population of this research includes the over two hundred management staff of the Oil and Gas firms operating in Rivers State. The random sampling techniques was used to generate sample 118 out of two hundred (200) management staff for which questionnaires were administered. Descriptive statistics tools, univariate and bivariate inferential statistic of Pearson's Product Moment Correlation was used to conduct all of the statistical analyses. The results indicate a positive relationship between the study variables. The paper concludes that there is a good strong and significant relationship between Stakeholders management and project performance. More Pronounce in conclusion is the strong and significant influence of the moderating variable (Local Content Monitoring Board) on the stakeholder management and project performance of Oil and Gas Firms in rivers state. The Study recommends: i. That, Oil and Gas firms in Rivers State should have stakeholder engagement and monitoring units to allow easy assessment of stakeholder needs. This will increase their firms Project cost efficiency exponentially. ii. The vendor departments of Oil and Gas firms in Rivers state should prioritise the engagement of stakeholders (host communities) in contract award. This also again, will increase their Project Completion Time. iii. The establishment of a viable Local Content Monitoring Board by all the oil and gas firms operating in Rivers State in sight of its attributes.
Keywords: Stakeholder Management, Project Performance, Stakeholder needs identification, Project cost efficiency, Project Completion Time, Local Content Monitoring Board and oil and gas firms.
