Project Stakeholder Management identifies people or organizations that may impact or be impacted by your project, and develops strategies to manage their expectations. This Knowledge Area contains four processes: Identify Stakeholder, Plan Stakeholder, Manage Stakeholder Engagement, and Control Stakeholder Engagement. The following article is a summary of Stakeholder Management for PMBOK 6th Edition.
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Stakeholder – A stakeholder is anyone who has a “stake” in the project. Stakeholders can either impact or be impacted by the project. Key stakeholders are those people who can make project-level decisions (e.g. project sponsor).
Stakeholder analysis – Stakeholder analysis involves identifying all the stakeholders, analyzing how each stakeholder can impact or influence the project, and developing strategies to influence the stakeholders’ impacts.
Stakeholder management strategy – Strategies to increase stakeholders’ support and minimize their resistance (e.g. through use of stakeholder analysis matrix)
Stakeholder register – Stakeholder register may contain information about the stakeholder. It can include the following: Name, Title, Project role, Contact info, Influence, Impact, and Attitude.
Identify Stakeholders is the process of identify people, groups, or organizations that may impact or be impacted by your project. This process collects relevant information about your stakeholders and monitors their interests. Identifying and analyzing your stakeholders can minimize change resistors and lead to project success.
Plan Stakeholder Engagement is the process of developing strategies to increase stakeholder interest and engagement on your project. The goal is to increase project supporters and minimize resistors throughout the entire project lifecycle.
Analytical techniques are used to determine stakeholders’ current engagement level and the desired engagement levels. When there’s a gap between the current engagement level and the desired levels, the project team will develop plans to minimize the gap and increase stakeholder engagement.
There are 5 levels of stakeholder engagement:
Stakeholder engagement assessment matrix is used to map a stakeholder’s current engagement level and his/her desired engagement level.
Manage Stakeholder Engagement is the process of communicating and working with stakeholders to meet their expectations. This process involves engagement stakeholders, addressing their concerns, and clarifying issues.
When the stakeholders feel their concerns have been heard and addressed, their support for the project will increase.
The stakeholders’ influence on the project is highest during initiation and gets progressively lower as the project progresses.
To be successful on this process, you, the project manager, need to have strong interpersonal skills, such as conflict resolution and active listening.
Monitor Stakeholder Engagement is the process of monitoring overall project stakeholder relationships and adjustment strategies for engagement accordingly.
Information management systems are tools that allow project managers to capture, store and distribute information about stakeholders. Some information about stakeholders can be highly confidential and may not be documented.
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