2 - Stakeholder Management

Question 1

What is the Iceberg Model?

Answer 1

The idea that not all stakeholders are immediately identifiable - the iceberg is biggest below the surface

Can also imply that a stakeholder may be driven by something not immediately identifiable - what behaviours or pressures are affecting them?

Question 2

What is a stakeholder analysis matrix?

Answer 2

Plots the level of interest and influence of a stakeholder to drive the engagement plan with them.

Question 3

What are the main four quadrants of a stakeholder matrix?

Answer 3

Bottom left: Monitor
Top Left: Keep satisfied (meet the spec)
Bottom Right: Keep informed (don’t give them power)
Top Right: Manage Closely

Question 4

What steps should you take when undertaking stakeholder management?

Answer 4

• Identify
• Assess
• Plan
• Engage
• Review and update

Question 5

What guidance notes are there from RICS that talk about stakeholders?

Answer 5

Stakeholder Engagement Guidance Note

Question 6

What is in the Stakeholder Engagement guidance note?

Answer 6

• Produced with the APM
• Set out 10 principles:

1) Communicate
2) Consult Early and Often
3) They’re only human
4) Plan It
5) Relationships are key
6) Simple, but not easy
7) Just part of managing risk
8) Compromise
9) Understand what success is
10) Take responsibility

Question 7

What is a stakeholder

Answer 7

Anyone that can affect or is affected by what you are trying to achieve