(Mt) – University of The Cumberlands W5 Stakeholder Management Reflection

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Project Stakeholder Management This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 5: Project Stakeholder Management Outline • • • • • Definition of stakeholder Typical stakeholders Stakeholder management Stakeholder Analysis The stakeholder register This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 5: Project Stakeholder Management Stakeholder definition • People, groups or organizations that could impact or be impacted by the project Source: PMBOK Guide, Fifth Edition, Page 391. This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 5: Project Stakeholder Management Stakeholder management • Identify stakeholders, analyze stakeholder expectations and their impact on the project, and develop appropriate management strategies for effectively involving stakeholders in project decisions and execution. Source: PMBOK Guide, Fifth Edition, Page 391. This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 5: Project Stakeholder Management The stakeholder register • Used throughout the project • A table used to manage interactions with the stakeholders • Lists all stakeholders and stakeholder groups • Information added and updated throughout the phases of the project: • Interests, involvement, interdependencies, influence on project success • All interactions with each stakeholder or group, whether planned or not, whether initiated by the project or by the stakeholder • Who on the project team is responsible • Closely related to the project communication plan This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 5: Project Stakeholder Management Project Initiation: Identify Stakeholders • • • • • • Top Management Your Manager Peers Resource Managers Internal Customers External Customers • Government • Contractors, Subcontractors, Suppliers • Others (the public, landowners, interest groups, business competitors) This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 5: Project Stakeholder Management Stakeholder Analysis • • • • • Who are they? What are their interests? Will their interest level vary throughout the project? Can coalitions be built? The power/interest grid This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 5: Project Stakeholder Management Project sponsor • The person or group responsible for enabling success. • May be inside but is usually outside the project. • Signs off that the project is complete—the one the PM has to satisfy. • The person responsible for escalating issues that are beyond the control of the PM. • Significant role in developing the initial charter and project plan. Source: PMBOK Guide, Fifth Edition, Page 32. This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 5: Project Stakeholder Management Politics of Projects • The environment • The goals of each stakeholder or group • Goals that are openly stated or clear • Hidden agendas? • Power This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 5: Project Stakeholder Management Cultural influences • Groups and individuals may differ with regard to: • Communications • Negotiations • Decision-making This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 5: Project Stakeholder Management Relationship building • • • • • • Analyze stakeholders Assess influence Understand expectations Define success Keep stakeholders involved Keep stakeholders informed This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 5: Project Stakeholder Management Build respect • • • • • Be honest Take ownership Be predictable and reliable Stand by decisions Take accountability for mistakes Supportive stakeholders are essential to project success! This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 5: Project Stakeholder Management Stakeholder management tools • • • • • Power/interest matrix Cooperation-Threat matrix Stakeholder analysis template Stakeholder Register Communication Plan This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 5: Project Stakeholder Management The power/interest grid High Keep Satisfied Manage Closely Monitor Keep Informed Power Low Low Interest High Source: PMBOK Guide, Fifth Edition, Page 32. This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 5: Project Stakeholder Management Cooperation-Threat Matrix This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 5: Project Stakeholder Management Engagement levels • May classify in more detail than in Initiation phase: • • • • • Unaware Resistant Neutral Supportive Leading • For each stakeholder or group. Consider potential movement from one level to another throughout the project. This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 5: Project Stakeholder Management Stakeholder management plan • A component of the Project Management Plan • • • • • Desired and current engagement levels with stakeholders Scope and impact of project on stakeholders Interrelationships between stakeholders Stakeholder communication requirements and plan Time frame, frequency, format and content of planned communications to stakeholders • Method for updating the stakeholder management plan This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 5: Project Stakeholder Management Manage Stakeholder Engagement • Communicating and working with stakeholders to meet their needs and expectations • To increase support and reduce resistance from stakeholders • Increase the probability of project success This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 5: Project Stakeholder Management Stakeholder Management Summary • Stakeholders are people, groups or organizations that could impact or be impacted by the project • Managing stakeholders is a key success factor for projects • Analyze stakeholder interests and level of influence • Build coalitions • Communicate with Stakeholders This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 5: Project Stakeholder Management Questions? This work is licensed under a Creative Commons Attribution 3.0 Unported License (CC-BY). Project Management Chapter 5: Project Stakeholder Management

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