/Stakeholder Management in 2020
Stakeholder Management

Stakeholder Management in 2020

Stakeholder Management plan contain the details of internal and external stakeholders. The details are stakeholder expectation, expected outcome, impact during the project during.  All the information is considered in the process of developing Project Stakeholder Management plan.

Stakeholder Management Plan

The following figure shows the key steps of creating stakeholder management plan.

Stakeholder Management plan

Identify Stakeholders

All impacted people and organizations are identified at the beginning of developing project stakeholder management plan.   

If we consider marketing project of a new mobile phone, the stakeholders may be customers, marketing team members, production team members, suppliers, labor unions of the company and etc.

Stakeholders of building construction project is labors, staff of construction project, employees of construction company, other state organization and persons who live in that area.

Stakeholder Analysis

Relevant details are gathered to analysis the stakeholders.

  • Identify all potential stakeholders and relevant information

Stakeholders are identified in previous steps. Their details are collected in this step. The details are contact information, role in project, department or company.

  • Identify potential impact or support each stakeholder could generate
  • Assess how key stakeholders are likely to react or respond to various situations.

Stakeholder Power/ Interest grid can be developed using the above information.

Stakeholder analysis - Power and Interest

The above diagram shows power/ interest grid.

  • If the stakeholder has more power, but low interest toward the project, you have to keep satisfied that stakeholder because he/she has high power.
  • If the stakeholder has less power and less interest, you don’t need to put large effect. It is recommended to monitor the behavior of the stakeholder.
  • If the stakeholder has less power and high interest, it is recommended to keep updating those stakeholders. They may give new development ideas for the success of the project.
  • If the stakeholder has high power and high interest towards the project, the project team has to manage the stakeholder closely.

Now you have an idea about the stakeholder power, interest, impact and main expectation. The stakeholder register consists of above details. 

Plan Stakeholder Engagement

It is important to identify the engagement level of each stakeholder while doing the project.

Stakeholder Engagement Plan

Unaware – unaware of the project and the potential impacts

Resistant – Aware of the project, potential impacts and resistance to change

Neutral – Neither supportive nor resistance

Supportive – Support to changes

Leading – Actively engage in project success

It is important to have a Stakeholder Assessment Matrix in the project process. At the planning stage of the project, all the stakeholders and their desired engagement levels are identified. The project stakeholder management plan is prepared based on the above details.

Stakeholder Engagement Plan

C – Current engagement status

D – Desired engagement status

Your stakeholder management plans are based on the desired engagement levels. It is important to monitor the engagement level of each stakeholder and take necessary to maintain them in desired engagement level.