Serrador_Stakeholder_Management2.pdf - Project Management...

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Project Management Institute Logout Welcome, Constance Emerson Home About Join Contact Help My Profile Home > Learning > Answers by Topic > Stakeholder Management Stakeholder Management Pedro Serrador, MBA, PMP, PEng Serrador Project Management Abstract Stakeholder management is one of the key soft skills a project manager needs. Keeping the stakeholders engaged and happy is critical to project (and project manager) success. Those who have failed know the pitfalls. This paper will give an overview of stakeholder management as well as provide some practical tips to improving communication and relationships with stakeholders. It will cover the following areas: identifying and analyzing stakeholders, managing stakeholders, dealing with problem stakeholders, and listening to stakeholder concerns. Introduction The following is how A Guide to the Project Management Body of Knowledge (PMBOK Guide) —Fourth Edition (Project Management Institute [PMI], 2008) defined stakeholder management: Stakeholders are persons or organizations (e.g., customers, sponsors, the performing organization, or the public), who are actively involved in the project or whose interests may be positively or negatively affected by the performance or completion of the project. Stakeholders may also exert influence over the project, its deliverables, and the project team members. The project management team must identify both internal and external stakeholders in order to determine the project requirements and expectations of all parties involved. Furthermore, the project manager must manage the influence of the various stakeholders in relation to the project requirements to ensure a successful outcome. Exhibit 1 illustrates the relationship between the project, the project team, and other common stakeholders. (PMI 2008, p. 23) ® ADVERTISEMENT Facebook LinkedIn Twitter Email More Reprints & Permissions Search Articles & Topics Search for Articles & Topics Related Articles Zombie Risks Toward High Reliability Project Organizing In Safety-Critical Projects Security Spending Soars myPMI Certifications Membership Learning Events Business & Government PMBOK Guide & Standards ® Store
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Exhibit 1: Project relationships (PMI, 2009, p. 24) What Are Other Definitions of a Stakeholder? Here are some other definitions of stakeholder: 1. A person, group, organization, or system who affects or can be affected by a project's actions. (Wikipedia 2009) 2. Stakeholders are the specific people or groups who have a stake, or an interest, in the outcome of the project. (Visitask, 2009) 3. A person, group, or authority who is involved in or may be affected by project activities and who could act against the project if their needs are not considered. (Wideman, 2002 To me the last one is the best definition: “Someone who could act against the project if their needs are not considered.” (Wideman, 2002)This type of stakeholder needs to be kept happy by delivering a successful project to him or her.
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