Stakeholder Management - Domain F - 6 Questions

Question 1

Stakeholder

Answer 1

= people who can have an impact on the success of the event or who can be affected by the event OR those who are actively involved in the project, or whose interests may be affected by the completion of project (Project Management)

• can be internal or external

Question 2

Stakeholder Approach

Answer 2

• event professionals take into account their responsibilities to others and adopt a consultative demeanor and including stakeholders in the decision-making process
• can help attract and retain employees, suppliers and customers
• strong stakeholder involvement can result in support for the budget and other resources needed

Question 3

Identifying Stakeholders

Answer 3

Internal Stakeholders: owner of the project, owner of the budget
- Key Departments: Finance, Procurement, Technology, Legal/Risk Management

External Stakeholders: attendees, sponsors, community where event is taking place
Suppliers, Media, Partners/Contributors, Local Community

Event Owner: the person who has requested the event and is responsible for defining objectives and outcomes

Budget Owner: overall responsibility for the income and expenses related to event, be responsible for financial costs and liabilities

Event Attendees/Participants: participation is required to achieve event objectives!

Question 4

Manage Stakeholder Activities

Answer 4

• Start with Stakeholder Interviews to uncover the interests, issues, and priorities for each stakeholder
  
  • only interview those that will have the greatest influence on the success of the event
• Stakeholder Profile = once interviewed, collect information and include in profile, to inform event professional on strategy and implementation

The interview should be structured as follows:
1. Introductions
2. Define event and event professional’s role
3. Set context - event owner, goals and objectives, desired outcomes
4. Why is stakeholder’s support needed?
5. Possible conflicts with other stakeholders?
6. Complete stakeholder profile
7. Answer Questions
8. Confirm level of engagement
9. Next Steps!

Question 5

Stakeholder Categories

Answer 5

• based on level of interest, and how they will be affected on a day-to-day basis (SETS UP A GRID)

1. Low Interest and Low Influence - local business in the area
2. Low Interest and High Influence - keep them satisfied and interested, includes the budget owner
3. High Interest and Low Influence - kept informed of event plans, like volunteers - not actively involved, but important in event operation
4. High Interest and High Influence - significant time should be allocated to managing relationships - the event owner

Question 6

Manage Stakeholder Relationships

Answer 6

1. Communication
2. Recognition
3. Conflict Resolution
4. Legal Considerations - things like contracts, insurance requirements etc.