Stakeholder Management – The Basics

basics of stakeholder management - Stakeholder Management - The Basics

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 ManagerProject Team MembersSenior ManagementProject Sponsor
CustomerEnd UsersVendors / SuppliersCompetitors

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,

stakeholder management processes pg ka mapping 2 - Stakeholder Management - The Basics

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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