C6 Stakeholder Analysis and Management Flashcards
What generic stakeholders are categories are included on the stakeholder wheel?
Customers - These are the people or organisations for whom the organisation provides products and services.
Partners - Organisations that work with the organisation e.g. to provide specialist services on our behalf.
Competitors - competing for the business of our customers.
Regulators - for when organisations are subject to regulation and inspection.
Owners - Direct owners (Sole trader / Partnership) - Shareholders (ltd liability / public ltd liability).
Employees - People that work for an organisation clearly have an interest in how its run and changes that it makes.
Managers: Those to whom direction is entrusted.
How can you assess the weight that should be attached to stakeholder issues?
The POWER / INTEREST model;
The Power/Interest Grid, which is also known as the Power/Interest Matrix, is a simple tool that helps you categorize project stakeholders with increasing power and interest in the project. This tool helps you focus on the key stakeholders who can make or break your project.
High power, highly interested people (Manage Closely): you must fully engage these people, and make the greatest efforts to satisfy them.
High power, less interested people (Keep Satisfied): put enough work in with these people to keep them satisfied, but not so much that they become bored with your message.
Low power, highly interested people (Keep Informed): adequately inform these people, and talk to them to ensure that no major issues are arising. People in this category can often be very helpful with the detail of your project.
Low power, less interested people (Monitor): again, monitor these people, but don’t bore them with excessive communication.
What is RACI analysis and what do the letters actually mean?
RACI matrix or linear responsibility chart, describes the participation by various roles in completing tasks or deliverables for a project or business process.
R - Responsible: person who performs an activity or does the work.
A - Accountable: person who is ultimately accountable and has Yes/No/Veto.
C - Consulted: person that needs to feedback and contribute to the activity.
I - Informed: person that needs to know of the decision or action.
A RACI analysis is useful for:
1) Workload Analysis
2) Re-organisation
3) Employee Turnover
4) Work Assignment
5) Project Management
6) Conflict Resolution
7) Documents the Status Quo
What model is often used to UNDERSTAND STAKEHOLDER PERSPECTIVES?
Soft Systems Methodology - Peter Checklands 1999
CATWOE is an acronym that stands for Customers – Actors – Transformation process – World view – Owners – Environmental constraints.
It’s a simple checklist to find solutions to problems. It offers surprising solutions and stimulates multiple approaches. The CATWOE Analysis makes it possible to identify problem areas, look at what a company wants to achieve, and which solutions can influence the stakeholders. The analysis uses thought solutions from multiple perspectives.
What are the five types of activities included in the Business Activity Model? (BAM)
When creating a BAM, there are five main categories of activates that the user needs to consider and map out:
Doing: These activities are at the heart of the model, and are derived straight from the CATWOE transformation aspect, which reflects the organisation’s principal business activities. There should only ever be one or two doing activities in each BAM, for example, ‘sell product’ or ‘provide service’.
Enabling: These activities ensure that the resources and facilities needed for the ‘doing’ activities are available, for example, recruiting staff, ordering training materials, developing training courses or ordering products.
Planning: In order to complete the doing and enabling activities, planning activities must be considered beforehand. These types of activities can include ‘define number of staff’ or ‘define product range’ for example.
Monitoring: These are the activities that will be setting performance expectations, for example, ‘monitor data analytics’, ‘monitor employee performance’ or ‘monitor customer service feedback’.
Control: These activities come last and are based on the monitoring activity outcomes. If the monitoring activities reveal that performance is not what was expected, then the control activities may be required to institute the necessary actions.
