The project stakeholder management is a new knowledge area represented on the exam, but much of the subject matter is not new as it was previously found in other knowledge areas.
Stakeholder management follows an approach that should be familiar, creating a plan, executing a plan, and monitoring and controlling. The idea that arises is to work to manage the expectations that drive stakeholder satisfaction.
Stakeholder management is defined as “the creation and maintenance of relationships with the aim to satisfy needs”. This is an expansive definition that covers activities throughout the project lifecycle.
The approach is driven by the fact that stakeholders need to be identified and have their needs fully understood before they can be managed. They should be communicated with and involved at the proper level throughout the life of the project.
This knowledge area presents no real surprises other than the fact that there is an initiating process. Since a significant number of questions come from the initiating process group, and there are only two initiating processes, it is a safe guess that this particular process is important.
There are four processes in stakeholder management:
Identify stakeholders is the process that focuses on creating the stakeholder register to list all of the stakeholders and describe their involvement on the project. This is one of only two initiating processes.
The definition of a stakeholder is anyone with an interest in the project, and that interest may be positive or negative.
If the stakeholders are not properly identified on the project and their needs are not understood, then there is little chance of meeting their expectations. Many projects fail because they did not understand the needs of the stakeholders and address them on the project.
Identify stakeholders will be one of the first processes you perform on a project or project phase, and it may be performed several times throughout the project lifecycle.
The main inputs here is the project charter which describes the project at a high level, and it may also describe some of the stakeholders and their interests within the project or its product.
If there is a contract involved then the procurement documents will provide an input describing some of the stakeholders and their needs. Stakeholders could be the legal parties, the people who executed the contract, the team members responsible and so on.
There are two other inputs for this process, the enterprise environmental factors, and organisational process assets.
PMP Stakeholder Management identify stakeholders tools
The goal of this technique is to identify which stakeholders should receive project communications, what communications they should receive, how they should receive these communications, and how often they should receive them.
Some stakeholders are more important than others and these stakeholders must be understood and their abilities to influence your organisation and their interests and the project captured. For the purpose of stakeholder analysis, a stakeholder that would be anyone who creates or course is a need, is affected by the need, or would be accepted by the solution.
This is the single output and is a document that lists all of the project stakeholders, describes them, and classifies them. This classification is important when you are planning the communication and you wish to group stakeholders together.
This looks at how the team will relate to the stakeholders and what stakeholder involvement will be in all aspects of the project. This process is normally performed early in the project and may be revisited as the project work progresses.
The stakeholder register is the main input here having been generated from the previous process. It is impossible to try and plan how stakeholders will be involved in the project without knowing who the stakeholders are. This register provides the stakeholders and their communication requirements.
The project management plan, the enterprise environment, and organisational process assets are all common inputs here.
The main tools used are expert judgment, meetings, and analytical techniques.
The stakeholder management plan
This is the main output from this process and he’s a component of the project management plan describing how the team will engage with the stakeholders and how their expectations will be managed and deal with any issues. It also describes how communication will be conducted
The main purpose of this process concerns using communication and the issue log to help ensure that stakeholders are involved at the right level and in the right way. Stakeholder should be managed according to their needs and how the project scope addresses those needs.
Stakeholder satisfaction is the single most significant ingredient in project success and although this is based not on product quality, it is also to do with whether or not the stakeholders were happy with the project, whether or not they were properly involved, and whether or not they have a voice on the project.
This process happens as long as there are stakeholders with whom you need to work.
Manage stakeholder engagement inputs
The stakeholder management plan describing how stakeholders will be engaged and managed throughout the project
The communications management plan describing how the project will communicate with the various stakeholders and groups of stakeholders. This plan works very closely with the stakeholder management plan.
Change log this provides the main input here since it triggers the need for communication.
Manage stakeholder management tools
These are the communication methods, interpersonal skills which both keep stakeholders up to date with the art of persuasion. Remember, how you communicate with stakeholders is at least as important as what you actually communicate.
The other main input is management skills.
Manage stakeholder engagement outputs
The main two here are the issue log along with its updates as this is a very important component of this process since it captures and condenses stakeholder concerns in a single document.
Change requests – as stakeholders are informed about the project progress, it is normal for had requested changes to result
This process evaluates how the plan of engaging and involving stakeholders lines up with the results. As is normal, stakeholder management does not always go according to plan, and when things go wrong with stakeholder management, the project can get into trouble very quickly.
This process will be performed after there is a plan in place and after the plan has been executed
Control stakeholder engagement – inputs
The issue log is an important input to this process as it will give an indication as to the volume, size, and scope of existing or new issues on the project.
Other inputs here are work performance data and project documents.
Control stakeholder engagement – tools
The main one. Here is the information management systems which facilitate the storage and reporting of information. This is a primary tool used to keep the stakeholders up to date with the project status and information.
Control stakeholder engagement – outputs
None of the outputs for this process are really important for the exam, and it is far better to focus on the process itself