20 Questions
What is the primary purpose of creating a Participation Matrix Table for stakeholders?
To assess the impact of stakeholders on the project's success
At which stage of the project should stakeholders be involved to ensure guaranteed success?
Early in the business analysis process
What is the benefit of helping stakeholders realize their personal gains from the project?
It helps to avoid conflicts
Why is it important to maintain confidentiality when dealing with sensitive issues involving stakeholders?
To win the trust of stakeholders
What is the primary purpose of stakeholder mapping and analysis?
To understand stakeholder needs and expectations
At which stage of the project should stakeholders be involved to ensure their needs are met?
During all of the above stages
What is the primary goal of Step 5 in stakeholder management?
To prioritize, reconcile, and balance stakeholders' needs
When identifying stakeholders, what question should be asked to determine their interest?
What direct benefit do stakeholders expect to get from the project?
What is the primary objective of communicating with stakeholders?
To encourage stakeholder exchange and feedback
What is an important aspect to consider when dealing with stakeholders' needs?
The potential conflicts of interest amongst stakeholders
What is the primary focus of Step 6 in stakeholder management?
Aligning stakeholders' needs with organizational strategies and actions
What should be considered when assessing a stakeholder's influence?
The stakeholder's degree of negotiation power in the organization
What is the primary purpose of stakeholder analysis and mapping?
To determine whose interest should be taken into account
When should stakeholder analysis be done?
At the beginning of a project
What is a log frame?
A general approach to project planning, monitoring, and evaluation
How many categories are stakeholders categorized into?
Two
What is the first step in the process for stakeholder analysis?
Identify your stakeholders
What should be done with high power, interested people according to stakeholder type?
Manage closely
What is the purpose of step 4 in the stakeholder analysis process?
To identify areas of conflicts
Why is stakeholder analysis important in project management?
To help project leaders and managers access a stakeholders’ interest, positions, alliances and knowledge
Study Notes
Stakeholder Analysis
- Stakeholder Analysis and Mapping is done to identify and map the interests of stakeholders in a project.
- It helps project leaders and managers to understand stakeholders' interests, positions, alliances, and knowledge related to the project.
Importance of Stakeholder Analysis
- Stakeholder analysis is essential at the beginning of a project to inform the drafting of a log frame.
- It is also useful during mid-term reviews or annual monitoring of a project.
Stakeholders Categorization
- Internal stakeholders: employees and management within the organization.
- External stakeholders: government, trade associations, and others outside the organization.
Process for Stakeholder Analysis
- Identify stakeholders: consider bosses, team members, senior executives, prospective customers, and others.
- Assess how stakeholders could be impacted or have an effect on the organization.
- Prioritize stakeholders based on their power and interest.
- Identify areas of conflict between stakeholders and the organization.
- Prioritize, reconcile, and balance stakeholders' needs.
- Align significant stakeholder needs with organizational strategies and actions.
Stakeholder Type and Expectation
- High power, interested people: manage closely.
- High power, less interested people: keep satisfied.
- Low power, interested people: keep informed.
- Low power, less interested people: monitor with minimum effort.
Dealing with Stakeholders
- Eliminate processes that do not add stakeholder value.
- Communicate effectively with stakeholders to encourage exchange and understanding of the project's value.
- Identify stakeholders' needs, expectations, and potential conflicts.
Attribute Check for Stakeholders
- Identification: who is paying for the project, who will receive deliverables, and who is the expert for the project domain?
- Interest: what direct benefits do stakeholders expect, and what changes do they need to make?
- Influence: what legitimate authority do stakeholders have, and what degree of influence do they carry?
- Impact: how much impact can stakeholders have on the project, and will it affect the project's success?
Participation Matrix Table
- Create a table to identify stakeholders' participation levels in various project stages, such as needs assessment, planning, implementation, and monitoring and evaluation.
Tips to Manage Stakeholders
- Accept stakeholders as they are.
- Involve key leadership and stakeholders early in the business analysis process.
- Ensure confidentiality and help stakeholders realize their personal gains from the project.
- Stakeholder mapping and analysis can help manage stakeholders effectively.
Learn about Stakeholder Analysis and Mapping, a process to identify and prioritize stakeholders' interests in a project. Understand its importance in project management and how it helps project leaders and managers.
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