Stakeholder

Question 1

Who make up stakeholders?

Answer 1

Individuals, groups, or organizations that may affect, be affected by, or perceive itself to be affected by a project and the results.

Question 2

What is the process of stakeholder management?

Answer 2

• Identifying the people who may affect the work of the project
• Identifying the people who may be affected by the project/results
• Plan Stakeholder Engagement
• Manage Stakeholder Engagement
• Monitor their levels of satisfaction

Question 3

What is the PM role with Stakeholders?

Answer 3

• Focus on continuous communication with stakeholders to identify and manage their expectations

Question 4

What are some reasons to revamp Stakeholder Management?

Answer 4

• Project moves through different phases in its life cycle
• Current stakeholders become less involved
• New stakeholders become identified
  Significant changes in the organization

Question 5

Which process group does Project Stakeholder Management Occur?

Answer 5

All 5 of them, front to back

Question 6

Why is the process of managing stakeholder engagement so important?

Answer 6

Helps understand the project goals, objectives, benefits, risks, how to contribute, and how their contributions will have an impact

Question 7

How do stakeholders help initiate projects?

Answer 7

By initiating a business need, recommendation, or business case

Question 8

What is the engagement assessment matrix?

Answer 8

Compares current stakeholder engagement levels to their desired levels of engagement, classified as such:

- Unaware
- Resistant
- Neutral
- Supportive
- Leading (actively engaging)

Question 9

What is the stakeholder register?

Answer 9

A document that contains information about stakeholders such as:

- Identification information
- Assessment information (potential for influencing outcomes)
- Stakeholder classification (internal/external, impact/power, upward/downward)

Question 10

What is the Salience model?

Answer 10

Describes classes of stakeholders based on their:
- Power (ability to influence project)
- Urgency (need for immediate attention)
- Legitimacy (involvement is appropriate)
Best for large, complex networks of relationships among stakeholders

Question 11

What are some best practices for stakeholder engagement?

Answer 11

• Inclusion in project reviews
• Project meetings
• Social media

Question 12

What interpersonal team skills can be used for Managing Stakeholder Engagement?

Answer 12

• Conflict Management
• Negotiation
• Cultural awareness
• Observation/conversation
• Political awareness
• Understanding power relationship within/around the project

Question 13

What is the purpose of Monitoring Stakeholder Engagement

Answer 13

• When processes are impacted by poor engagement, modifying certain processes.