Strategic Stakeholder Management Essay

 

Identify Stakeholders

The people, groups, or organizations that comprise the project stakeholder community

The project stakeholder community consists of people, organizations, and groups who have a consigned interest or care about a project. The project stakeholder community encompasses the top management, project team, project manager, sponsors, investors, resource managers, internal customers, external customers, government, subcontractors, contractors, and suppliers (Derakhshan, Turner & Mancini, 2019). The top management constitutes the company’s president, directors, vice-president, corporate committee, and division managers. These individuals guide an organization’s development and strategy.

The project team comprises persons borrowed temporarily or devoted and enthusiastic about the project. A project manager provides direction, support, and leadership to the project team when completing their tasks. Resource managers are in charge of handling resources. The external customers are the clients. A project sponsor (an organization or individual) acts as the investor, initiator, administrator, advisor, and key decision-maker (Pedrini & Ferri, 2019). The sponsor also approves capitals allocations and makes decisions concerning the flow of money within a project. Project investors are people who commit funds to a project with the expectation of receiving monetary profits. The external customers are those who would purchase and use the project’s products and services. The internal customers have an association within and with the organization through partnership or employment.

Project managers have to work with government departments and regulators, including the provincial, federal, municipal, and international governments. The project subcontractors, contractors, and suppliers offer resources and expertise to a project. They include electricians, architects, and carpenters. Numerous projects rely on commodities provided by outside suppliers. The project stakeholder community is actively involved with a project’s work and has something to lose or gain from the project’s results (Pedrini & Ferri, 2019). The stakeholder community may be impacted by the project and have a corporate interest in a project outcome. Identifying the project stakeholder community is substantial to meet the project objectives and goals.

The organizational position, project roles, expectations, and communications requirements of each stakeholder

The stakeholder register contains information related to the stakeholder’s organizational positions, expectations, project roles, and communications requirements. The register contains details encompassing classification, assessment information, and identification information. The stakeholder’s organizational positions include the top management, sponsor, investor, resource manager, project team, and project manager. The project roles encompass the project lead, sponsor, coordinator, functional or technical lead, and clients. The executive sponsor authorizes the financial plan while the project lead manages individuals, risks, issues, and conflicts (Freeman, Harrison & Zyglidopoulos, 2018). The project coordinator coordinates the efforts of the project while the functional or technical lead has the authority to allocate resources and work.  The top management is expected to guide the strategy and development of the project. The project team will exhibit high levels of professionalism in the task, job, or skill. They will perform the project’s specific tasks to attain its objectives.

The project manager is responsible for applying project management approaches to ensure the project’s success.  The sponsor provides support and resource for the project. Responsible for facilitating success (Pedrini & Ferri, 2019). The investor provides ideas and financial aid to boost and promote the project. Participate in financial and managerial decisions. The internal and external clients will pay for the project services and products. Additionally, the subcontractors, contractors, and suppliers will supply services or acquire resources for the project. Lastly, the government will deal with organizational, financial, and technological barriers. The top management team will be contacted through face-to-face meetings, emails, project documentation, and newsletters. Similarly, the project team and manager, investor, resource managers, contractors, subcontractors, suppliers, and internal clients will be contacted via interactive communication, encompassing phone conversations and video conferencing. The government and external customers will be contacted via pull communication through project websites. The top management, sponsor, and the investor will also be contacted through push communication via emails, project documentation, and project newsletters.

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The stakeholder information in a stakeholder register

Stakeholder Name	Type (Internal/External)	Organizational Position	Role in Project	Expectations	Communications Requirements
Top management	Internal	Senior management team	Project lead	Guide the project’s development and strategy.	Interactive communication through face-to-face meetings and Push communication through emails, project documentation and newsletters
Team	Internal	Project team	Team members	Exhibit high levels of professionalism in task, job or skill. They perform the project’s specific tasks to attain its objectives.	Interactive communication through face-to-face meetings, video conferencing and phone conversations
Manager	Internal	Management team	Project lead	Responsible for applying project management approaches to ensure project’s success.	Interactive communication through face-to-face meetings and phone conversations
Sponsor	External	Senior management team	Executive Sponsor	Provides support and resource for the project. Responsible for facilitating success.	Push communication through emails and project documentation and newsletters.
Investor	External	Primary stakeholder	Executive sponsor	Provide ideas and financial aid to boost and promote the project. Participate in financial and managerial decisions.	Interactive communication through face-to-face meetings and Push communication through emails and project documentation and newsletters
Resource managers	Internal	Management team	Project coordinator	Control project resources.	Interactive communication through face-to-face meetings, video conferencing and phone conversations
Internal customers	Internal	Primary stakeholders	Client	Pay for the project services and products.	Interactive communication through face-to-face meetings
External customers	External	Primary stakeholders	Client	Pay for the project services and products.	Pull communication through project website
Contractors, suppliers, and subcontractors	External	Primary stakeholders	Functional/technical lead	Supply services or acquire resources for the project.	Interactive communication through face-to-face meetings and phone conversations and pull communication through project website
Government	External	Secondary stakeholders	Project coordinator	Concerned about the organizational, financial, and technological barriers.	Pull communication through project website

 

 

Stakeholder Management Strategy

The strategy that will be used to manage stakeholders for the Water Cube project

Stakeholder mapping is the strategy that will be utilized to manage stakeholders for the water cube project. The strategy will involve conducting a detailed stakeholder examination to categorize the stakeholders. The key factors will be recognized and inspected encompassing the demographics, project proximity, needs and concerns, interests, and expectations. Stakeholder mapping also involves a thorough comprehension of the internal stakeholder team, including the suppliers and contractors, immediate staff, and alliances (Albats et al., 2020). Numerous aspects of the water cube project delivery were novel and exceptional to the project management team, necessitating management approaches and solutions (Zou & Leslie-Carter, 2010).  Stakeholder mapping for the water cube project will facilitate the investigation of whether the right resources are available and effective team functioning. Stakeholder mapping will assist in categorizing stakeholders, allocating resources, understanding the stakeholder volume, and bringing the team together.

The purpose of a stakeholder management strategy.

A stakeholder management strategy is critical for the success of a project. The strategy certifies that the stakeholder’s interests and expectations are comprehended for their proper management. A strategy allows the project manager to articulate to the project team how communication will work (Albats et al., 2020). The strategy also aids in examining and evaluating the stakeholders and understanding them better.  This way, their needs are anticipated or projected and their concerns can easily be addressed.

The strategy covers the stakeholder expectations, prioritization of stakeholders, action plans, and communication rules. The action plans outline how stakeholders’ involvement will be managed and the stages to be taken to guarantee their expectations are fulfilled. The communication rules framework the rate of recurrence, category, and level of communication with every stakeholder. Prioritization of stakeholders involves ranking them founded on the capacity to impact a project and concern for its results (Falcão, Ramalho & Nobre, 2020). The stakeholder expectations include their involvements and their communication preference.

A stakeholder management plan enables the categorization of stakeholders based on their project interest and influence (Nguyen, Mohamed & Panuwatwanich, 2018). The plan also aids in understanding the stakeholders who need attention to focus and assign the resources effectively. The strategy also assists in understanding the volume of stakeholders engaged in the project and the degree of engagement. It allows for the identification of vital stakeholders who positively influence a project to establish healthy and instant relationships. Understanding the stakeholders’ perspectives as soon as possible is essential. Significantly, a stakeholder management strategy helps unite the team, ensuring everyone is on the same page for successful stakeholder management. The stakeholder management strategy describes how the project team intends to manage the key stakeholders’ expectations and goals in the lifecycle of the project.

The methods that will be used to identify project stakeholders

One way to identify the stakeholders is to draw on the project charter and any other documentation or project plan to collect an entire list of both internal and external stakeholders. Another method that will be used to identify stakeholders is brainstorming. The technique is free-form and involving the team and the project sponsor is essential. The process will involve the team individually listing all the potential stakeholders and is a great place to start.

The other technique includes a stakeholder role profile. Similar to a risk profile utilized to scan for common project risks, a stakeholder profile is utilized to categorize stakeholders common to each project (Downar, 2018). Following the decision is another method to categorize stakeholders. Projects involve authorizations and decisions. The technique involves rereading the project plan and outlining all the authorization points and decisions, considering the decision-makers at every point.

The other method involves seeking the secondary stakeholder; individuals not involved in a project execution such as the clients of clients, regulators, and project opponents. Similar to risk management, the initial step in the stakeholder management process is identifying stakeholders using various identification techniques.

The methods that will be used to determine stakeholder communications requirements

Stakeholder communication is crucial as it assists in building mutual trust and working together effectively. Building on the stakeholders’ communication and feedback improves a project’s results. The methods to use to determine the stakeholder’s communication requirement include categorizing the stakeholders based on their power and interest in the project, determining the communication type and channel, stakeholder goal and expectations, and communication frequency. The stakeholders prefer different communication types and channels, a factor to consider when determining their communication requirements (Derakhshan, Turner & Mancini, 2019). Creating a communications plan is significant for stakeholder communication requirements. The plan outlines how, when, and the format to use to communicate with the stakeholders. Choosing the appropriate communication method is substantial depending on the stakeholder’s preference (Civera, Colle & Casalegno, 2019). The methods are push, pull, and interactive communication. Another method to determine the stakeholder communication requirements is identifying the information they need over the entire project’s lifecycle. As a project ends, stakeholder communication requirements may vary. Asking the stakeholders regularly if they have similar needs is critical. Determining stakeholder communication requirements is important only if it provides them value and they can understand the communication.

Stakeholder Analysis

The level of power and interest each stakeholder has in the project

Power and interest are the primary variables that describe stakeholders and how they impact a project. Power is a stakeholder’s capacity to stop or alter a project. Interests refer to the degree of stakeholder involvement in the project. The government has high power but low interest in the project. As such, the government regulatory agency must be pleased to avoid withholding authorizations.

The top management has high power and low interest in the project. The team has low power and high interest in the project. The sponsor and investor have high power and low interest in the project. The resources manager and manager have high power and high interest in the project. The contractors, subcontractors, and suppliers have low power and high interest in the project. Essentially, stakeholders with both low power and interest must be supervised to guarantee they do not manage to alter or stop the project (Bahadorestani, Naderpajouh & Sadiq, 2020). Those with high power and high interest must be actively supervised due to their key impact on the project.

The stakeholders with high power and low interest must be pleased to certify that a minor stakeholder does not disrupt the project. Lastly, stakeholders with high interest and low power must be kept informed to guarantee their support for the project. Essentially, a stakeholder analysis is a continuing exercise and helps categorize those who oppose and support a project.

Each stakeholder’s potential impact on the project, based on power and interest

An interest/power grid equates stakeholders based on their involvement and authority in a project. The top management, with high power and low interest, make the biggest decisions, giving them high impact but limited bandwidth to focus on the project outcomes (Zhuang, 2019). They must be kept satisfied through constant communication.

The project manager and resources manager, with high power and high interest, have the biggest influence on the project’s success and their expectations must be closely managed. The investors and sponsors, with high power and medium interest, can use their power in an undesired manner if unsatisfied with the project. The project team, with low power and high interest, must be sufficiently and effectively informed. The team has a direct impact on the project where each individual performs specific and unique tasks to ensure project success.

The external and internal customers, with low interest and low power, indirectly influence a project and should be monitored without boring them with excessive communication. The contractors, suppliers, and subcontractors. The government, with high power and low interest, regulates the regulations and decrees that can shut down a project (Zhuang, 2019). The power/interest grid prioritizes stakeholders based on their project participation and control or authority.

A power/interest grid for the project

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Stakeholder Engagement Strategies

How stakeholders will be engaged in the project on an ongoing basis

The stakeholders will be engaged on an ongoing basis through the stakeholder engagement plan. The engagement plan is part of the project management plan that categorizes the approaches and actions needed to support effective stakeholder involvement in project implementation and decision making.

The Water cube’s stakeholders will be engaged on an ongoing basis by getting them to talk to one another, managing their expectations, keeping them satisfied, keeping them informed, leading with integrity, and communicating effectively. According to Zou and Leslie-Carter (2010), the most imperative strategy is to hire and lead clever individuals who might resist being controlled and working to time limits.

Getting stakeholders to communicate with one another will promote an ongoing project involvement. Effective communication and constantly updating stakeholders about the project’s progress are also operative in maintaining their engagement (Bahadorestani, Naderpajouh & Sadiq, 2020). Developing and upholding a communication plan is critical in ensuring a continuing engagement. Managing stakeholders closely, particularly the project team, and keeping them satisfied promotes their ongoing project engagement (Boaz et al., 2018). Engaging with sponsors, executives, and higher management to attain commitment and to manage their expectations and interests encourages their engagement.

Strategies for managing stakeholder expectations

Every stakeholder has expectations. Therefore, working with the team to manage their expectations is crucial. One strategy for managing stakeholder expectations is ensuring the success of the project is plainly defined before its commencement. Defining the project variables, including its goals is essential for managing stakeholder expectations (Pirozzi,2019). This way, the stakeholders can decide if the project matches their interests.

The second strategy involves making sure that stakeholders see the project’s values as soon as possible. Keeping the project focused by familiarizing the stakeholders with the initial goals, pitch, and timeline helps manage their expectations (Byrne, 2019). The other strategy encompasses maintaining simplicity when communicating with the stakeholders.

Finding a mutual ground with the stakeholders to ensure they all receive similar data, reports, and development updates manages their expectations (Stocker et al., 2020). Showcasing the project’s progress through offering updated reports on the team’s discoveries, for instance, also manages stakeholder expectations. The final strategy will involve asking for stakeholder feedback, opinions, comments, and suggestions concerning the project. Managing stakeholder expectations by informing and engaging them in the ongoing project promotes its success.

Ways in which managing stakeholder engagement is related to project success

Managing stakeholder expectations ensures that they are actively involved in the project execution process. Managing their expectations builds stakeholders’ trust and confidence and allows them to understand the process and any decisions made. Managing their expectations assists in augmenting trust, building improved relationships, and boosting satisfaction among external and internal parties, resulting in smoother project operations (Civera, Colle & Casalegno, 2019). The stakeholders of a project, for instance, the project sponsor and investor, have an interest in the projects’ outcomes.

Managing stakeholders’ expectations also reduces risk through their engagement. This increases the prospect of project success. Managing stakeholder expectations is critically significant to project success because they can understand the situation better and have different expectations (Oliveira & Rabechini, 2019). Comprehending the project stakeholders and their needs sponsors the success of a project.

Stakeholders and Change Management

How project changes will be managed for the project

Project changes are unavoidable and arise over the project lifecycle’s course. The most important aspect of managing project changes is being prepared always. The project changes will be managed by describing the change objective, developing plans and approaches to attain the objective, formulating a project management cluster to upshot the change, and installing a control procedure to observe progress. Defining the change objective has a clear effect on the plans and approaches needed to attain the project change (Sanghera, 2019). The objective describes the why, what, who, when, and how.

Lack of a clear definition of objectives exposes the project to major challenges. Defining the change objectives facilitates project change management. An approach describing how the objectives of a project will be attained must be established at the initial project phases. The approach must accommodate the financial requirements, political environment, and change complexity. Developing approaches and plans to attain the objective simplifies project change management. Most project changes need a full-time management effort, necessitating a project management group or cluster.

When managing the change procedure diverse skills from various individuals must be incorporated at different project stages. Installing a control procedure or process to observe the progress of a project will help in managing the project changes. Project changes might occur at any stage of the project. Managing the changes effectively is significant.

How project changes will be communicated to the project stakeholders

Effective communication simplifies stakeholder engagement when managing project changes. The project changes will be communicated through the various communication channels encompassing, one on one meetings, phone conversations, emails, and video conferencing. The changes will also be communicated transparently and regularly. Communicating the project change frequently in numerous venues will be an effective means to communicate with the stakeholders (Sanghera, 2019). This will also allow them to question the project changes and voice their issues and concerns.

The project changes will be communicated effectively to the stakeholders through newsletters and email, project summary reports, online presentations, and email automation. Effective change communications necessitate the active involvement of the stakeholders (Caputo, Evangelista & Russo, 2018). The emails and newsletters have an immediate information delivery and simplify communication management with stakeholders. Setting up consistent and systematic daily updates to send to every stakeholder through email automation will be an operative means to communicate the project changes. Email automation will allow email customization with dynamic content and only send specific information to stakeholders.

Virtual presentations, online or physical, are a popular means to communicate with stakeholders. Even if a project summary report is an outdated technique of stakeholder communication, it is an effective means to communicate about the project changes (Caputo, Evangelista & Russo, 2018). Communicating the project changes effectively facilitates stakeholder engagement when changes occur.

 

References

Albats, E., Alexander, A., Mahdad, M., Miller, K., & Post, G. (2020). Stakeholder management in SME open innovation: Interdependences and strategic actions. Journal of Business Research, 119, 291-301. https://doi.org/10.1016/j.jbusres.2019.07.038

Bahadorestani, A., Naderpajouh, N., & Sadiq, R. (2020). Planning for sustainable stakeholder engagement based on the assessment of conflicting interests in projects. Journal of Cleaner Production, 242, 118402. https://doi.org/10.1016/j.jclepro.2019.118402

Boaz, A., Hanney, S., Borst, R., O’Shea, A., & Kok, M. (2018). How to engage stakeholders in research: design principles to support improvement. Health research policy and systems, 16(1), 1-9. https://health-policy-systems.biomedcentral.com/articles/10.1186/s12961-018-0337-6

Byrne, M. (2019). Increasing the impact of behavior change intervention research: Is there a role for stakeholder engagement?. Health Psychology, 38(4), 290. https://psycnet.apa.org/doi/10.1037/hea0000723

Caputo, F., Evangelista, F., & Russo, G. (2018). The role of information sharing and communication strategies for improving stakeholder engagement. In Business models for strategic innovation (pp. 25-43). Routledge. https://www.taylorfrancis.com/chapters/edit/10.4324/9781351257923-3/role-information-sharing-communication-strategies-improving-stakeholder-engagement-francesco-caputo-federica-evangelista-giuseppe-russo

Civera, C., De Colle, S., & Casalegno, C. (2019). Stakeholder engagement through empowerment: The case of coffee farmers. Business Ethics: A European Review, 28(2), 156-174. https://doi.org/10.1111/beer.12208

de Oliveira, G. F., & Rabechini Jr, R. (2019). Stakeholder management influence on trust in a project: A quantitative study. International Journal of Project Management, 37(1), 131-144. https://doi.org/10.1016/j.ijproman.2018.11.001

Derakhshan, R., Turner, R., & Mancini, M. (2019). Project governance and stakeholders: a literature review. International Journal of Project Management, 37(1), 98-116. https://doi.org/10.1016/j.ijproman.2018.10.007

Downar, W. (2018). Identification and mapping of project stakeholders: criteria and methods. Management, 24, 640. DOI: 10.5604/01.3001.0011.7370

Falcão, P., Ramalho, N., & Nobre, M. (2020). Stakeholder management: the new role of business diplomacy. Journal of Business Strategy. https://doi.org/10.1108/JBS-01-2020-0016

Freeman, R. E., Harrison, J. S., & Zyglidopoulos, S. (2018). Stakeholder theory: Concepts and strategies. Cambridge University Press. https://doi.org/10.1017/9781108539500

Nguyen, T. S., Mohamed, S., & Panuwatwanich, K. (2018). Stakeholder Management in Complex Project: Review of Contemporary Literature. Journal of Engineering, Project & Production Management, 8(2). https://www.researchgate.net/profile/Tuan-Son-Nguyen/publication/326801226_Stakeholder_Management_in_Complex_Project_Review_of_Contemporary_Literature/links/5b63e5f80f7e9b00b2a25354/Stakeholder-Management-in-Complex-Project-Review-of-Contemporary-Literature.pdf

Pedrini, M., & Ferri, L. M. (2019). Stakeholder management: a systematic literature review. Corporate Governance: The International Journal of Business in Society. https://doi.org/10.1108/CG-08-2017-0172

Pirozzi, M. (2019). The stakeholder perspective: relationship management to increase value and success rates of projects. Taylor & Francis. https://doi.org/10.1201/9780429196546

Sanghera, P. (2019). Planning for communication and stakeholder management. In PMP® in Depth (pp. 313-341). Apress, Berkeley, CA. https://link.springer.com/chapter/10.1007/978-1-4842-3910-0_8

Stocker, F., de Arruda, M. P., de Mascena, K. M., & Boaventura, J. M. (2020). Stakeholder engagement in sustainability reporting: a classification model. Corporate Social Responsibility and Environmental Management, 27(5), 2071-2080. https://doi.org/10.1002/csr.1947

Zhuang, T., Qian, Q. K., Visscher, H. J., Elsinga, M. G., & Wu, W. (2019). The role of stakeholders and their participation network in the decision-making of urban renewal in China: The case of Chongqing. Cities, 92, 47-58. https://doi.org/10.1016/j.cities.2019.03.014

Zou, P. X., & Leslie-Carter, R. (2010). Lessons learned from managing the design of the ‘Water Cube’National Swimming Centre for the Beijing 2008 Olympic Games. Architectural Engineering and Design Management, 6(3), 175-188

 

Approaches to Managing Stakeholders in Organizations

Stakeholder management is an increasingly important aspect of managing projects. One of your responsibilities as a project manager is to identify project stakeholders and assess their potential to impact the success of the project. Understanding stakeholder theory and how it can be applied to managing project stakeholders will increase your effectiveness with this task.

 

• Briefly describe shareholder theory, stakeholder theory, and stakeholder salience. (3-4 paragraphs)
• Compare the three concepts. In what ways are they similar? In what ways are they different? (1 page)
• What are the benefits associated with each approach? What are the challenges? (1 page)

Stakeholder Management and Business Impact

 

Every organization must choose an approach for managing its constituents that best fits its business purpose and strategic objectives. One major consideration in making the choice is the potential for the constituent community to positively or negatively influence the direction of the business and its performance objectives. Consider the definitions of shareholder theory, stakeholder theory, and stakeholder salience and how each approach suggests ways to identify, analyze, and prioritize stakeholders.

 

• Which of the three concepts do you think has the most potential to positively impact business strategy? How? Why? (3-4 paragraphs)
• Which of the three concepts do you think has the most potential to negatively impact business strategy? How? Why? (3-4 paragraphs)

Effective Stakeholder Management

 

To prepare for this assignment read the case study “Aetna Inc.: Managing inherent enterprise risks through stakeholder management”. As you complete this element of the assessment, also refer to the learning resources provided in Sub-competency 1 and 2.

 

• Describe the stakeholder management approach at Aetna before the class action litigation. (2-3 paragraphs)
• Which of the three theories (shareholder, stakeholder, salience) for managing an organization’s constituents was most closely aligned with that approach? (3-4 paragraphs)
• Describe the stakeholder management strategy that was devised to combat the negative perceptions of the organization. In what ways had the approach changed? (3-4 paragraphs)
• Do you think the new stakeholder management strategy of the organization better supports its responsibility to its constituents? Why? How? (3-4 paragraphs)

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Identify Stakeholders

To prepare for this element of the assessment, read the article “‘Water Cube’ National Swimming Centre for the Beijing 2008 Olympic Games”.

The stakeholder management plan defines the specific ways that stakeholders will be engaged and managed for a project. It typically starts with a list of internal and external project stakeholders along with a description of their respective roles, expectations, and communication requirements.

 

• Describe the people, groups, or organizations that comprise the project stakeholder community. (1 page)
• Describe the organizational position, project roles, expectations, and communications requirements of each stakeholder. (1 page)
• Record stakeholder information in the stakeholder register below.

 

Stakeholder Name	Type (Internal/External)	Organizational Position	Role in Project	Expectations	Communications Requirements

 

Analyze Stakeholders

 

For this element of the assessment refer to the article “‘Water Cube’ National Swimming Centre for the Beijing 2008 Olympic Games”.

 

Managing project stakeholders presents many challenges for a project manager. This is especially true as the size and complexity of a project increases. Identifying and analyzing project stakeholders typically begins in the initiation phase of a project but it is not necessarily a one-time activity. The process may need to be repeated at certain points in a project such as when a milestone is achieved, or a new phase begins.

 

Classifying and prioritizing project stakeholders are designed to highlight stakeholders with the greatest interest in the project; those with high levels of influence who might impact the results of the project; those who are responsible for the financial resources for the project. One of the purposes of this process is so that the project manager can develop strategies for effectively managing and engaging stakeholders.

 

The PMBOK (PMBOK® Guide) suggest that there are five “stakes” that a stakeholder may have in a project. This concept can be applied more broadly to the organization level. The five “stakes” include interest, rights, ownership, knowledge and contribution. Also, there are multiple ways to classify and prioritize stakeholders.

 

• Describe each of the five “stakes” that a stakeholder may have in a project. (3-4 paragraphs)
• Which of the stakeholders from the Water Cube project has the greatest level of interest? Rights? Ownership? Knowledge? Contribution? Explain why. (1 page)
• Which approach to prioritizing stakeholders is most appropriate for the Water Cube project? Why? (3-4 paragraphs)

 

Stakeholder Management Strategy

The strategy for managing project stakeholders defines the approach that will be used to engage and manage stakeholders for a project. The approach that is taken should match the needs of the organization and the characteristics of the project.

 

Describe the strategy that will be used to manage stakeholders for the Water Cube project.

• Describe the purpose of a stakeholder management (3–4 paragraphs)
• Describe the methods that will be used to identify project (3–4 paragraphs)
• Describe the methods that will be used to determine stakeholder communications (3–4 paragraphs)

 

Stakeholder Analysis

Stakeholder analysis is a technique for determining the level of interest and power each stakeholder has in the project. Project success is directly related to meeting stakeholder needs. Understanding which stakeholders have the greatest interest and power in the project facilitates engaging stakeholders at appropriate levels and managing project communications.

 

• Describe the level of power and interest each stakeholder has in the (3–4 paragraphs)
• Describe each stakeholder’s potential impact on the project, based on power and (3–4 paragraphs)
• Prepare a stakeholder power/interest grid for the

 

Stakeholder Engagement Strategies

A stakeholder engagement strategy is a planned approach to ensure that stakeholders are fully involved in project activities appropriate to the level of their interest and influence. Managing stakeholder engagement involves processes designed to meet stakeholder expectations through effective communications and timely issue and conflict resolution.

 

Apply strategies for effectively managing stakeholder engagement for the Water Cube project.

• Explain how stakeholders will be engaged in the project on an ongoing basis. (3–4 paragraphs)
• Describe strategies for managing stakeholder (3–4 paragraphs)
• Explain the ways in which managing stakeholder engagement is related to project (2–3 paragraphs)

 

Stakeholder Conflict and Ethical Behavior

One of the most challenging aspects of engaging and managing project stakeholders is addressing conflict. It is not uncommon for there to be competing objectives among individual or groups of stakeholders. A worst-case scenario is when project stakeholder expectations conflict with the mission, goals, objectives, policies, or procedures of the greater organization.

 

• Provide an example of competing objectives among project (1 paragraph)
• Which project management skill do you think would be most effective to resolve the issue? Why? (2–3 paragraphs)
• Which interpersonal skill do you think would be most effective to resolve the issue? Why? (2–3 paragraphs)

 

• Provide an example in which the expectations of project stakeholders conflict with the greater (1 paragraph)
• Which project management skill do you think would be most effective to resolve the issue? Why? (2–3 paragraphs)
• Which interpersonal skill do you think would be most effective to resolve the issue? Why? (2–3 paragraphs)

 

Stakeholders and Change Management

Project changes, particularly significant unplanned changes, may result in conflict among the project stakeholders. The potential for this situation can be mitigated by having a well-defined change management plan in place and communicating the plan for handling project change to stakeholders before changes occur.

 

Evaluate the impact of project change on stakeholder relationships and engagement.

• Explain how project changes will be managed for the (3–4 paragraphs)
• Explain how project changes will be communicated to the project (3–4 paragraphs)