BUSG 2002-2 Stakeholder Management Quiz

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Questions and Answers

What is the primary goal of a project manager in stakeholder management?

To prioritize personal interests over stakeholder needs

To limit communication with stakeholders

To avoid conflicts with stakeholders

To engage the right stakeholders in project decisions and execution (correct)

Which of the following is NOT a role of the project manager in relation to stakeholders?

Understanding stakeholders' expectations

Understanding stakeholders' roles

Ignoring the influence of stakeholders (correct)

Getting stakeholders involved in the project

What is an important first step in the stakeholder management process?

Plan stakeholder engagement

Develop core messages

Manage stakeholders

Identify stakeholders (correct)

Why is it necessary to distribute core messages to the proper channels?

To create project advocates Signup and view all the answers

What should a project manager prioritize when managing stakeholders?

The highest impact, highest influence stakeholders Signup and view all the answers

How can a project manager effectively manage stakeholder expectations?

By understanding stakeholders' needs and expectations Signup and view all the answers

What is a key process involved in managing stakeholders?

Resolving issues in a timely manner Signup and view all the answers

What is a potential outcome of effective stakeholder management?

Enhanced project support from stakeholders Signup and view all the answers

What is an essential component of a basic communication plan?

Frequency of delivery Signup and view all the answers

Which of the following is NOT a part of effective communication?

Providing information at any time Signup and view all the answers

What should be updated if a communication plan is not working?

Issues log Signup and view all the answers

Which skill involves the ability to facilitate dialogue to resolve disputes?

Negotiating Signup and view all the answers

What is the primary goal of communication management?

To keep stakeholders informed Signup and view all the answers

What does monitoring and controlling communication involve?

Communicating and addressing stakeholder concerns as they arise Signup and view all the answers

Which of the following is a management skill essential for effective project communication?

Presentation skills Signup and view all the answers

What aspect of communication defines efficiency?

Relevance of information Signup and view all the answers

What purpose does stakeholder analysis serve in project management?

To understand and categorize stakeholders for effective communication Signup and view all the answers

In the Power/Interest Grid, what characterizes stakeholders in the 'High Power/High Interest' category?

They are significant stakeholders that deserve sustained management attention Signup and view all the answers

How should management address stakeholders with 'High Power/Low Interest'?

They should seek to raise awareness and develop a positive interest Signup and view all the answers

What is a recommended approach for stakeholders characterized as 'Low Power/High Interest'?

Management should encourage conditions to increase their power Signup and view all the answers

What does the category 'Low Power/Low Interest' suggest about stakeholders?

Management should increase their power to mitigate negative impacts Signup and view all the answers

Which stakeholders are referred to as 'The Crowd' in the Power/Interest Grid?

Stakeholders with low power and low interest Signup and view all the answers

What is emphasized in managing stakeholder expectations?

Following the Communication Plan effectively Signup and view all the answers

What is typically the main focus of stakeholder analysis?

Understanding the influence and interest of stakeholders Signup and view all the answers

What is the primary purpose of creating a Stakeholder Profiles Register?

To document stakeholder interests and responsibilities Signup and view all the answers

Which stakeholder characteristic is NOT mentioned as part of their profile?

Communication style Signup and view all the answers

What type of stakeholders should be monitored closely throughout a project?

Stakeholders who can significantly impact the project Signup and view all the answers

What does the stakeholder's concern regarding parking indicate about their expectations?

Expectation of easy access to goods Signup and view all the answers

Which method helps in grouping stakeholders in the analysis phase?

Stakeholder Goals Analysis Signup and view all the answers

Which of the following quotes reflects the challenges of stakeholder management?

You can please some people all the time... Signup and view all the answers

What action should be taken based on stakeholder analysis?

Adjust stakeholder engagement strategies as needed. Signup and view all the answers

Which aspect is essential for stakeholder analysis to determine?

The level of participation needed from stakeholders Signup and view all the answers

Study Notes

Course Information

Course title: College of Business – BUSG 2002-2
Unit: Stakeholder & Communications Management
Assessment type: MCQ/Matching

Stakeholder Management

Stakeholders: Individuals or organizations impacted by the project, positively or negatively.
Project Management(PM) needs: Understand stakeholder expectations, roles, and how they can influence the project. Provide information about the project.
Communication Management: Distribute core messages through appropriate channels. Gather information and involvement from various stakeholders. Resolve issues and create project advocates. Manage project challenges.
Getting Project Support: Understand stakeholders and their potential impact. Engage the right stakeholders in project decisions. Develop good working relationships with stakeholders. Manage high-impact, high-influence stakeholders. Resolve issues promptly.

Stakeholder Management Process in PMBOK

Knowledge Areas: Initiating, Planning, Executing, Monitoring & Controlling, Closing
Processes: Identify Stakeholders, Plan Stakeholder Engagement, Manage Stakeholder Engagement, Monitor Stakeholder Engagement

Project Stakeholder Management Processes

Identify Stakeholders: Determine who the stakeholders are and their relationships with the project.
Plan Stakeholder Engagement: Define how and when stakeholders will be involved based on needs, expectations, and potential impact.
Manage Stakeholders: Communicate and work with stakeholders to meet their needs, address issues, and create appropriate involvement.
Monitor Stakeholder Engagement: Track stakeholder relationships to ensure alignment with the plan and make necessary adjustments.

Identify the Stakeholders

Definition: A person or organization involved in or affected by the project.
Profile Register: First step in creating a stakeholder register.
Analysis Questions: Who is the stakeholder? Can they be grouped with other stakeholders? What is their responsibility in the project? What do they want to get out of the project? What do they expect to happen? What are their concerns?

Analyzing the Stakeholders

Goal: Understand which stakeholders significantly influence the project (positively or negatively).
Analysis Questions: Which stakeholders have significant impact? What level of participation is needed from each stakeholder? What are the stakeholder groupings and their goals, expectations, and concerns related to the project?

Stakeholder Analysis

Purpose: Understand, categorize stakeholders to make project communication efficient and impactful.
Key Questions: How much power do stakeholders have to impact project outcomes? How interested are they in project outcomes? How involved are they in the project, and what is their influence level?

Analysis Techniques - Power/Interest Grid

Categories: Players (High Power/High Interest), Context Setters (High Power/Low Interest), Subjects (Low Power/High Interest), Crowd (Low Power/Low Interest)
Implications: Different categories require distinct management approaches.

Manage Stakeholder Expectations – Tools & Techniques

Interpersonal Skills: Building trust, resolving conflict, active listening, overcoming resistance to change
Management Skills: Presentation, negotiating, writing, and public speaking

Manage Stakeholder Expectations Outputs

Review, Analyze, and Update: Communication plan effectiveness, need for scope changes to meet stakeholder expectations, issue logs, stakeholder management strategy updates.

Communication Management

Communication management is a crucial process for smooth project execution and stakeholder satisfaction.
The goal is to keep all stakeholders on the same page regarding project objectives, expectations, roles and responsibilities, and issue resolution.

Project Communication Management Process

Plan the Communication: Define communication needs, format, timing, delivery, and desired outcome.
Manage the Communication: Collect, create, distribute, store, manage, monitor, and dispose of project information appropriately.
Monitor & Control the Communication: Engage stakeholders on their concerns promptly.

Effective & Efficient Communication

Effective: Informing the right people, through the right format, at the right time, with the appropriate impact (desired results).
Efficient: Communication only when needed.

Goal of Communication Management

Project goals and objectives should be clear to all stakeholders.
Stakeholder expectations should be managed effectively.
Roles and responsibilities should be clearly defined.
Issues should be resolved promptly.

The Anatomy of Communication

Basic: Message, recipient, sender, method, frequency, desired response
Comprehensive: Includes everything in the basic plan, formality level, and sensitivities/cultural considerations

Monitoring & Controlling Communications

Ensures information needs of stakeholders are met.
Involves continuous monitoring and adjustments to ensure the communication management plan and stakeholder engagement plan are effective.

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Description

Test your knowledge on stakeholder and communications management as outlined in BUSG 2002-2. This quiz covers the roles, expectations, and influence of stakeholders in project management. Engage with the processes necessary for effective communication and project support.