roles expectations relationship of stakeholders Flashcards
What is a stakeholder?
Anyone who has an interest in a project and can influence its success.
List examples of stakeholders.
- Clients
- Contractors
- Suppliers
- End users
- Local residents
- Construction team
- Local authority
What is a direct stakeholder?
Those who are directly involved or associated with a project.
What is an indirect stakeholder?
Those indirectly involved in a project, e.g., local government.
What are negative stakeholders?
Those not directly involved who are affected by the project, such as residents.
What is the impact of positive stakeholders?
They are likely to have a favorable impact on a project, such as contractors who gain financially.
What is stakeholder management?
The process of clearly identifying stakeholders and their involvement and needs for successful planning and execution.
What can failure in communication with stakeholders lead to?
Issues with finance and project timelines.
What should be included in a stakeholder management plan?
- Responsibilities towards stakeholders
- Identification of stakeholders
- Strategies for managing and communicating with stakeholders
- Threats or challenges presented by stakeholders
What does the stakeholder management process include?
- Inform
- Consult
- Involve
- Collaborate
What does ‘Inform’ mean in stakeholder management?
Stakeholders need to be kept regularly informed of decisions that may affect them.
What does ‘Consult’ involve?
Engaging stakeholders who need to provide decisions and opinions on project matters.
What does ‘Involve’ entail?
Stakeholders need to be involved in decisions and activities, ensuring their concerns are understood and reflected in project delivery.
What does ‘Collaborate’ mean in the context of stakeholder management?
Traded as parties to increase engagement and commitment, adapting strategies, objectives, and outcomes if needed.
What is P.M hierarchy?
Involves professionals being ranked top to bottom in relation to roles and responsibilities.
What does P.M include?
- Deadlines
- Goals
- Controls
- Risks
- Milestones
- Teamwork
- Analysis
- Problem solving
- Planning
- Budget
- Communications
