Friday, 11 November 2016

Education Edge PMP PMBOK Week 8 Office Read - Stakeholder Knowledge Area


Stakeholder Knowledge Area

 

 
Project Stakeholder Management includes the processes required to:

·       Identify the people, groups or organizations that could impact or be impacted by the project

·       To analyze stakeholder expectations and their impact on the project

·       To develop appropriate management strategies for effectively engaging stakeholders in project decisions and execution.

 

Stakeholder management also focuses on continuous communication with stakeholders to understand their needs and expectations.

 

While some stakeholders may have a limited ability to influence the project, others may have significant influence on the project and its expected outcomes.

 

The knowledge area of Project Stakeholder Management consists of the following four processes:

 

Process Name
Project Management Process Group
Key Deliverables
Identify Stakeholders
Initiating
Stakeholder Register
Plan Stakeholder Management
Planning
Stakeholder Management Plan
Manage Stakeholder Engagement
Executing
Issue Log
Control Stakeholder Engagement
Monitoring and Controlling
Work Performance Information
Change Requests

 

Identify Stakeholders is the process of identifying the people, groups, or organizations that could impact or be impacted by a decision, activity, or outcome of the project.

 

Following must be considered while identifying stakeholders:

1.       Analyzing and documenting relevant information regarding their interests

2.       Level of involvement

3.       Interdependencies

4.       Influence

5.       Potential impact on project success

 

It is critical for project success to identify the stakeholders early in the project or phase.

 

The project charter can provide information about internal and external parties related with the project.

 

Stakeholder analysis is a technique of systematically gathering and analyzing quantitative and qualitative information to determine whose interests should be taken into account throughout the project.

 

Power/Interest Grid with Stakeholders is used as a tool to identify the strength of a stakeholder.

 

Stakeholder Register contains all details related to the identified stakeholders.

 

The stakeholder register should be consulted and updated on a regular basis, as stakeholders may change—or new ones identified—throughout the life cycle of the project.

 


 

The Inputs, Tools and Techniques and Output of Identify Stakeholder process are given below:

 

Project Charter
Stakeholder Analysis
Stakeholder Register
Procurement Documents
Expert Judgment
 
Enterprise Environmental Factors
Meetings
 
Organizational Process Assets
 
 

 

Plan Stakeholder Management is the process of developing appropriate management strategies to effectively engage stakeholders throughout the project life cycle

 

It is based on the analysis of their needs, interests, and potential impact on project success.

 

The key benefit of this process is that it provides a clear, actionable plan to interact with project stakeholders to support the project’s interests.

 

Stakeholder management is about creation and maintenance of relationships between the project team and stakeholders, with the aim to satisfy their respective needs and requirements within project boundaries.

 

The engagement level of the stakeholders can be categorized as unaware, resistant, neutral, supportive, and leading.

 

The current engagement can be documented using Stakeholders Engagement Assessment Matrix.

 

The stakeholder management plan is a component of the project management plan and identifies the management strategies required to effectively engage stakeholders.

 

The Inputs, Tools and Techniques and Output of Plan Stakeholder Management process are given below:

 

Project Management Plan
Expert Judgment
Stakeholder Management Plan
Stakeholder Register
Meetings
Project Documents updates
Enterprise Environmental Factors
Analytical Techniques
 
Organizational Process Assets
 
 

 

Manage Stakeholder Engagement is the process of communicating and working with stakeholders to meet their needs/expectations, addresses issues as they occur, and foster appropriate stakeholder engagement in project activities throughout the project life cycle.

 

Managing stakeholder engagement helps to increase the probability of project success by ensuring that stakeholders clearly understand the project goals, objectives, benefits, and risks.

 

The communications management plan provides guidance and information on managing stakeholder expectations.

 

A change log is used to document changes that occur during a project.

 


The Inputs, Tools and Techniques and Output of Manage Stakeholder Engagement process are given below:

 

Stakeholder Management Plan
Communication Methods
Issue Log
Communications Management Plan
Interpersonal Skills
Change Requests
Change Log
Management Skills
Project Management Plan Updates
Organizational Process Assets
 
Project Documents updates
 
 
Organizational Process Assets updates

Control Stakeholder Engagement is the process of monitoring overall project stakeholder relationships and adjusting strategies and plans for engaging stakeholders.

 

Stakeholder engagement activities are included in the stakeholder management plan and are executed during the life cycle of the project.

 

The Inputs, Tools and Techniques and Output of Control Stakeholder Engagement process are given below:

 

Project Management Plan
Information Management Systems
Work Performance Information
Issue Log
Expert Judgment
Change Requests
Work Performance Data
Meetings
Project Management Plan Updates
Project Documents
 
Project Documents updates
 
 
Organizational Process Assets updates

 

 

 

 

 

 

 

 

 

 

 

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