Who make up stakeholders?
Individuals, groups, or organizations that may affect, be affected by, or perceive itself to be affected by a project and the results.
What is the process of stakeholder management?
- Identifying the people who may affect the work of the project
- Identifying the people who may be affected by the project/results
- Plan Stakeholder Engagement
- Manage Stakeholder Engagement
- Monitor their levels of satisfaction
What is the PM role with Stakeholders?
- Focus on continuous communication with stakeholders to identify and manage their expectations
What are some reasons to revamp Stakeholder Management?
- Project moves through different phases in its life cycle
- Current stakeholders become less involved
- New stakeholders become identified
Significant changes in the organization
Which process group does Project Stakeholder Management Occur?
All 5 of them, front to back
Why is the process of managing stakeholder engagement so important?
Helps understand the project goals, objectives, benefits, risks, how to contribute, and how their contributions will have an impact
How do stakeholders help initiate projects?
By initiating a business need, recommendation, or business case
What is the engagement assessment matrix?
Compares current stakeholder engagement levels to their desired levels of engagement, classified as such:
- Unaware - Resistant - Neutral - Supportive - Leading (actively engaging)
What is the stakeholder register?
A document that contains information about stakeholders such as:
- Identification information - Assessment information (potential for influencing outcomes) - Stakeholder classification (internal/external, impact/power, upward/downward)
What is the Salience model?
Describes classes of stakeholders based on their:
- Power (ability to influence project)
- Urgency (need for immediate attention)
- Legitimacy (involvement is appropriate)
Best for large, complex networks of relationships among stakeholders
What are some best practices for stakeholder engagement?
- Inclusion in project reviews
- Project meetings
- Social media
What interpersonal team skills can be used for Managing Stakeholder Engagement?
- Conflict Management
- Negotiation
- Cultural awareness
- Observation/conversation
- Political awareness
- Understanding power relationship within/around the project
What is the purpose of Monitoring Stakeholder Engagement
- When processes are impacted by poor engagement, modifying certain processes.
