Stakeholder Management Plan For Managing Stakeholder

1289 Words Nov 18th, 2014 6 Pages
1. MANAGING STAKEHOLDER EXPECTATIONS
1.1. DEFINITION OF A STAKEHOLDER
Before we go in depth into managing stakeholder expectations, we need to know what exactly a stakeholder means in terms of project management.
Project stakeholders are individuals and organizations that are actively involved in the project, or whose interests may be affected as a result of project execution or project completion. They may also exert influence over the project 's objectives and outcomes.
1.2. STAKEHOLDER MANAGEMENT PLAN
In order to manage stakeholder expectations, it is important to follow a well-designed plan that can tell you who are the most important stakeholders in a project and who should be given the most priority and so on. A few stakeholders have the power to make or break a project, and a few just try to act as if they are interested and do not contribute at all. Hence, it is important to classify them in order of priority and keep the right people happy.
The stakeholder management plan involves 4 main processes , which are:
1. Identify Stakeholders
2. Analyze Stakeholders
3. Prioritize Stakeholders
4. Engage Stakeholders
1.2.1. IDENTIFY STAKEHOLDERS
The first step in the stakeholder management is to brainstorm who the stakeholders will be. As part of this, a project manager along with his/her team will look for people who are affected by the project, who have influence or power over it, or have an interest in its successful completion. They must make sure that they identify…
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