Essay Implementing A Stakeholder Management Plan

984 Words Dec 16th, 2016 4 Pages
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 for each stakeholder or group of stakeholders (PMBOK, 2013).
Once the initial step of identify stakeholders is complete, the Project Manager must categorize each stakeholder into groups based on involvement, power, interest, desires and influence. With that being said, the Project Manager is a key stakeholder and has overlap and interrelationships among several other stakeholders. For example, one interrelationship is the Project Manager, the Program Director and the Project Sponsor. This overlap must be managed prudently as each is highly influential on the outcome of the project. The Project Sponsor is a key stakeholder, but the level of engagement required by the individual is low based on their needs. On the other hand, the Program…

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