The Gold Coast Light Rail Stage 2 project established at Gold Coast, Brisbane in Australia takes into consideration following individuals, groups, organizations, and other entities as prominent holders of the stake in the project.
Residents of Gold Coast
This includes the citizens, residents, and natives of the Gold Coast, Australia.
The Queensland Government acts as a primary holder of stakes in the Gold Coast Light Rail.
Contractors (CPB Contractors)
The project takes into account certain contractors and project managers like CPB Contractors, Goldlinq Ltd., etc. dealing in the successful completion of the project.
The employees as human resources are the most vital stakeholder in the project.
Board of Directors and Investors
The concerned Authorities such as Mayor, Investors, shareholders, etc. serve as the internal holders of stake.
Stakeholders in any project management act as an important source in providing the businesses and project management with the support of finances and practical approaches (Skachkov & Skachkov, 2018).
Queensland Government as Stakeholder
The Queensland Government as one of the most prominent holders of the stake in the light rail project has been analyzed to compose of the highest power and influence in the making and success of the project. The Queensland Government of Australia strengthens the Gold Coast Light Rail project by the provision of allowance for execution in addition to the funding to the project and its execution. The Government as a stakeholder has the highest contribution and influence in the economic, regulatory, and legal frameworks of the project that cannot be administered without the intervention of the concerned government.
Project Contractors as Stakeholder
Contractors are the major service providers in the field of project management in any industry, hence considered as one of the most reputed stakeholders in the field.
The Gold Coast Light Rail project of Australia adapts to the CPB Contractors, Australia for the execution, procurement, operation, and deliverance of the aimed stage 2 project of the Gold Coast Light Rail. The CPB Contractors have a major influence on the Gold Coast Light Rail as it undertakes the authority for the designing, execution, and finalization of the same within the stipulated time and manner (Newsletter, 2016).
Stakeholders are the decision-makers in the range of project execution, management, and success in any field. For the attainment of the most effective and optimum results in decision-making and objectifying, it becomes crucial to maintain a sense of engagement, communication, and relationship among the stakeholders of the target scope (Bourne, 2016).
According to the reports of Gold Coast Rapid Transit (n.d.), the engaged stakeholders in the Gold Coast Light Rail must be developed for long-term management of relationship for the ease of promoting the concepts, resolution of issues at a collective level of a bargain, and many other functions that involve the consent of each individual concerned in the process.
The Gold Coast Light Rail plans for the development of engagement in the stakeholders for seeking long-term support and collaboration among the concerned stakeholders for the creation of flexible workforces and systems for the streamlining of the processes and overall project management (Bajracharya, 2015).
Stakeholders as an integration of different and distinct mindsets and thoughtfulness can get into the rise of different conflicts in the areas of interests, styles, beliefs, and thoughts.
Much has been stated by Bajracharya (2015) about the matter of conflicts in the project. At the point of Gold Coast Light Rail, there has been an ongoing conflict among the sorts of stakeholders on the modification of the environmental, social, and economical sustainability factors of the state in the vision of the Queensland Government. There had been an issue of conflict and issue among stakeholders due to the differences in the thought process and mindset of each concerned individual as stakeholders in terms of the economic aspects of the project management.
To highlight, the root cause of sustenance as controversy among the stakeholders has been identified as the result of the Sustainable Planning Act, Australia where the emphasis is on social, economic, and environmental sustainability under economic balances and development.
Also, one of the major issues of conflicts among stakeholders is the allocation and management of involved activities of land usage, planning, construction restrictions, etc. by the Queensland Government in the project Gold Coast Light Rail, hence bringing up the scope of conflict in the same among a sample of stakeholders i.e. government, the board of directors, etc.
Bajracharya, B., Too, L., O’Hare, D., & Khanjanasthiti, I. (2015). Planning for the Gold Coast: Processes, challenges, and opportunities. The Gold Coast Transformed: From Wilderness to Urban Ecosystem, 159.
Bourne, L. (2016). Targeted communications: the key to effective stakeholder engagement. Procedia- Social and Behavioral Sciences, 226, 431-438. https://doi.org/10.1016/j.sbspro.2016.06.208.
Gold Coast Rapid Transit. (n.d.). Making a good project, a great project. A critical Retrospective. Retrieved from: http://www.goldlinq.com.au/pdf/Lessons%20Learned%20Technical%20Paper%20FINAL.pdf
Newsletter. (2016). Gold coast light rail stage 2. Department of Transport and Main Roads. Retrieved from: https://tmr.qld.gov.au/media/Projects/
Skachkov, O., and Skachkova, I. (2018). Theoretical and methodical toolkit for managing the stakeholders of a project. Innovative Technologies and Scientific Solutions for Industries, 1(3), 48-53. https://doi.org/10.30837/2522-9818.2018.3.048
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