Stakeholder Management is the last knowledge area that you are going to come across in your study of PMP courseware.
Stakeholder
Stakeholder is any person, group or organization whose interests maybe positively or negatively impacted or perceived to be impacted by the project. A stakeholder is also someone who can exert positive or negative influence over the project.
So anyone that can impact the project, be impacted by it or perceive to be impacted by it is a stakeholder. Effective engagement and involvement of stakeholders is critical for project’s success
Some common project stakeholders are,
| Project Manager | Project Team Members | Senior Management | Project Sponsor |
| Customer | End Users | Vendors / Suppliers | Competitors |
Other stakeholders that might not appear to be obvious at first are,
- People who might be impacted by the project
- People who perceive that they might be impacted by the project
- Social pressure groups that can impact the project like environmentalists
- Government or political leadership
Stakeholder Management
The processes of Stakeholder Management knowledge area helps you identify your stakeholders, keep them engaged and ensure that stakeholder satisfaction is achieved.
Below is the PG-KA mapping,
Identify Stakeholders
This is the process of identifying the people, groups and organizations that could impact or be impacted by the project. This can include the decision, activity or outcome of the project
Plan Stakeholder Engagement
This is the process of developing appropriate management strategies to effectively engage stakeholders throughout the project life cycle
Manage Stakeholder Engagement
This is the process of communicating and working with the stakeholders to meet their expectations and ensure their engagement in the project
Monitor Stakeholder Engagement
This is the process of monitoring the overall project stakeholder relationships and adjusting strategies and plans, if required, for keeping the stakeholders engaged
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