Stakeholder Management

Stakeholder Management - student project

Stakeholders play a crucial role in any project, and they encompass all individuals who are involved in the project. They can be likened to layers of an onion, each layer representing a different level of involvement and impact. Stakeholders are typically depicted in a diagram based on their interest and influence.

When categorizing stakeholders based on their level of interest and influence, the following scenarios can arise:

  1. High interest high influence: These stakeholders require close and serious management. Their needs and concerns should be addressed in a proactive and effective manner.

  2. Low interest high influence: It is important to keep these stakeholders satisfied and informed, even though their interest may be low. Their support and influence can still significantly impact the project's success.

  3. High interest low influence: These stakeholders should be kept informed about the project's progress and any relevant updates. Their involvement may be limited, but they should still be aware of key developments.

  4. Low interest low influence: These stakeholders should be monitored to ensure they remain engaged and aware of the project's objectives. While they may not have a significant impact, it is still important to keep them informed.

For each stakeholder, the following information should be completed: Who – What – Where – Why – When – How. This information helps in understanding the stakeholder's identity, role, location, motivations, preferred communication channels, and the timing and approach of engagement.

After completing the above information for each stakeholder, a Communication Plan should be developed. This plan outlines how information will be communicated to each stakeholder, taking into account their preferences and needs. It is essential to send each stakeholder the appropriate level of detail and relevant reports, avoiding the mistake of sending irrelevant or excessive information.

Seek feedback from stakeholders to ensure their concerns and suggestions are considered. However, it is important to prioritize and communicate only the most important feedback, avoiding the dissemination of unnecessary details.

By effectively managing and engaging with stakeholders throughout the project, you can enhance their involvement, address their needs, and ultimately increase the chances of project success.