what does the environment create?
the environment as a constraint for the project
What are the two perspective for an external analysis?
- Macro level
Factors affecting the overall environment of the project
Ex. PESTEL analysis - Micro level
Sectoral forces affecting project attractiveness
Ex. Porter’s five forces
What does PESTEL allow you to do?
List the main trends that can/will affect the project and its competitors.
Analyze the potential impact of these trends.
Anticipate their evolution by defining scenarios and proposing appropriate responses for each of them.
What are the different aspects of PESTEL?
Legal, political, environmental, technological, social, and economic
What does the Porter Five Force allow you to do?
Analyze how an industry operates
Describe how the 5 forces affect competitive intensity in the industry
The lower the competitive intensity, the more attractive the industry (and vice versa).
Objective: find the industry’s key success factors
What are the different aspects of the Porter’s 5 forces?
Suppliers; Internal competition; Potential entrants; Customers; Substitus
What creates competiton?
For there to be competition you need competitors
What is a strategic group?
A set of companies in an industry following identical and similar strategy
What is a stakeholder?
Any group or individual that can affect or be affected by the achievement of the organization objectives
What is a stakeholder analysis?
“Systematic quantitative and qualitative analysis technique to determine the issues and interests to be taken into account throughout the project” (PmBok, 2013).
The aim is to identify the interests, expectations and influence of stakeholders.
Analysis must be based on the meaning and purpose of the project
What is the stakeholder analysis process?
Identification of all stakeholders
Highlighting relevant information
Analysis and classification of the potential positive or negative impact of each stakeholder
Assessment of their ability to react or respond to different situations
Important to order stakeholders
What are the different types of classification for stakeholders during the stakeholder analysis?
Power / interest grid
Power / influence grid
Influence/impact grid
Salience model
How is power describe in the stakeholder model?
This describes a stakeholder’s level of influence in the system- How it can favour or constrain the project and or other stakeholders
How is interest describe in the stakeholder model?
This describes the project’s impact on stakeholders
What is keep satisfied?
- engage and consult them on their areas of interest
- increase their level of interest
- bring them into the manage closely category
What is manage closely?
- focusing on key players
- involving them in governance and decision-making
- consult them regularly
What is monitor?
- the least important
- inform them through standard communication
- bring them to keep informed category
What is the keep informed?
- show them consideration
- increase their involvement by positioning them in low-risk areas
- consult them on their areas of interest
- potential supporters and goodwill ambassador
What are the 3 variables for the stakeholder identification?
- Project influence
- Legitimacy of the stakeholder’s link with the project
- The urgency of the stakeholder’s project request
What is the importance or salience of the stakeholder?
- level of priority given by the manager to the requests of the various stakeholders
- the more attributes stakeholders have, the higher their level of importance
What are latent stakeholders?
ignoring these stakeholders or not even considering them as stakeholders
What are stakeholders waiting for?
Rather active, these stakeholders expect something
What are central stakeholders?
giving immediate priority to these stakeholders
