Stakeholder Management Plan

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One of the first steps for creating a Stakeholder Management Plan is to identify who are the stakeholders for the project. The Project Manager is responsible for making key decisions and these decisions can significantly impact the project. With that being said, the influence or needs of stakeholders can also impact the project and influence the decisions of the Project Manager. Stakeholders have the capability to influence several areas of the project, such as strategy, communications, finance and schedule. Being able to identify which stakeholders are influential is part of the Stakeholder Plan. Ultimately, managing stakeholders is a way to gain maximum support for the project and allows the Project Manager to identify the appropriate focus …show more content…
There are several methods used to engage stakeholders. Communications is the foundation of every successful project and the central focus in keeping stakeholders engaged. In essence, it has a great influence on who, what, when, where and how to manage support of stakeholders. First and foremost, the Project Manager should know who their stakeholders are should focus on the high-power/high-interest stakeholders, such as the Program Director and Project Sponsor in order to build a trusting relationship with them. They should be involved early as their influence are important to the project. By the same token, knowing what they want is just as important. Stakeholders may desire to remain under budget or focus more on performance, such as increasing profits. The next step is to communicate effectively. This means that the Project Manger must communicate the right information with the right stakeholder. For example, maintenance personnel probably will not need to know the legal requirements for obtaining government vendor and vice-versa, the Finance Director will not need to know the daily tasks of security personnel. Choosing the right information and disseminating it to the right person is a key method of engaging stakeholder, but so …show more content…
Ongoing dialogue ensures mutual understanding with stakeholders and managing interrelationships ensures those involved in the project receives what they need. The Stakeholder Management process provides a clear, actionable plan to interact with project stakeholders to support the project’s interests (PMBOK, 2013). Through this analytical process, gaps between the current and desired engagement levels can be identified and aids the Project Manager by providing guidance on how the various stakeholders can be best involved in the project (PMBOK, 2013). As a Project Manager, this will also allow for me to monitor stakeholder engagement and the inherent relationships more closely so I can adjust and prioritize strategies to achieve a high level of stakeholder engagement. Being able to assess inputs from stakeholders provides groundwork to increase support and minimize resistance for my Leadership Initiative

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