Project stakeholder management

If we can maintain the project stakeholders satisfied throughout the project, then the project is successful. The first step towards this is aggressive stakeholder identification and stakeholder’s expectation management. The positive expectations must be maximized where as the negative expectations must be minimized. While the stakeholder register will vary across projects, the following list contains the most common project stakeholders;

  • The sponsor (the entities funding the project)
  • Project managers (Owner’s PM, Contractor’s PM, Consultant’s PM, Discipline wise PMs)
  • Program managers (If the project under consideration is part of a program)
  • Portfolio managers (If the project under consideration is part of a portfolio)
  • Project management office (PMOs)
  • Consultants
  • Team members
  • Supervisors
  • Equipment manufacturers / Suppliers
  • Procurement management teams
  • Risk management teams
  • Quality management teams
  • Safety department
  • Planning department
  • Competitors
  • Statutory bodies

I am sure that a detailed analysis will extend this list further. If we have to perform a detailed stakeholder analysis, we need to;

  1. Identify the stakeholders
  2. Perform stakeholder analysis
  3. Manage stakeholder engagement in the project

The following two blog post of mine published at  Wrench elaborates these concepts further;

The art of managing project stakeholders – Part 1 

The art of managing project stakeholders – Part 2

 

The output of the stakeholder analysis is the stakeholder classification into the quadrants

stakeholderanalysis

The high power / low interest category of stakeholders must be kept informed about the project progress using a milestone chart (summary level information). The high power / high interest category of stakeholders must get more detailed view of the project at frequent intervals in the form of   Milestone charts, High level schedules, Risk rating matrix, Project ‘S’ Curves etc. The Low power / Low interest category can be ignored. The Low power, High interest category must receive the project progress details at a frequency which will ensure their interest in the project. Very often, the low power – high interest category is very powerful as a segment. For example :- The product review bloggers. They are the opinion leaders, and they must be proactively managed.

Summary

Stakeholder engagement is one of the critical success factors for every project. Project managers must proactively plan for effective stakeholder identification and management throughout the project. Since stakeholders power is directly linked to their organizational structure (functional, strong matrix, weak matrix, balanced matrix, projectized, composite), a proper study of the stakeholder’s positions, and their organizational structures will help in better project risk management and communications management.

pmp_kochi_kerala_india

 

 

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