Business acumen is an important element for successful management and leadership Business Acumen helps with a deep understanding
Read MoreStakeholders are individuals or groups with an interest in the project, programme or portfolio because they are involved in the work or affected by the outcomes.
Most projects, programmes and portfolios will have a variety of stakeholders with different, and sometimes competing, interests. These individuals and groups can have significant influence over the eventual success or failure of the work.
Stakeholder management is a set of techniques that harnesses the positive influences and minimises the effect of the negative influences.
It Comprises Four
Main Steps:
- Identify stakeholders
- Assess their interest and influence
- Develop communication management plans
- Engage and influence stakeholders
Typical Types Of Stakeholders
Will Include:
- Individuals and groups performing the work
- Individuals and groups affected by the work
- Owners, shareholders and customers
- Statutory and regulatory bodies.
Questions To Consider When Assessing Stakeholders Are:
- How will they be affected by the work?
- Will they be openly supportive, negative or ambivalent?
- What are their expectations and how can these be managed?
- Who and/or what influences the stakeholder's view of the project?
- Who would be the best person to engage with the stakeholder?
This analysis is used to develop a communication management plan. Appropriate strategies and
actions
are then defined to
engage with stakeholders in different parts of the matrix. Communications with stakeholders
who have
high levels of interest and
influence will be managed differently from those with stakeholders of low interest
and influence.
Similarly, communications
with stakeholders who are inherently positive about the work will be different from
those with
stakeholders who are negative.
