Project Management

STAKEHOLDERS ANALYSIS

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Stakeholder’s analysis

Introduction

Communication is a key aspect of managing any project. This stakeholder is important for the project manager as it entails a clear selection of best-suited stakeholders. This stage is very critical as the poor choice will lead to failure of the project. The inputs of each and every individual to be included in the project should be arranged in accordance with its importance to the project. The prioritization of importance of the stakeholders, their interest and as well as influence on the project should be given utmost importance. Communication during the whole process is of importance as well. This essay will entail the analysis of the stakeholders with the main aim of selecting the best-suited stakeholders for the project for the communication's management plan.

Communication Stakeholders

They are a few stakeholders who are the potential candidates for the selection. According to Harrington (2016), the first step in stakeholder's analysis is brainstorming for potential stakeholders. The various stakeholders for the will include the following types of stakeholders;

Executive stakeholder

This will be responsible for sponsoring the project, provide funding, solve problems and give a presentation of the top management. This position will require a person with high managerial experience and knowledge of the field of the project.

Project sponsor

This will be responsible for the normal day-to-day running of the functions of the project. The person represents the interests of the executive sponsor. The stakeholders formulate decisions on the ground too.

Customer-project manager

The stakeholder is responsible for personnel responsible for the project. The stakeholder must have a specialty in the type of project. For instance, if the project is IT then the stakeholder should liaise with the IT manager (Eskerod, & Jepsen, 2016).

Suppliers

These are people who supply products to the company. The products may be software, hardware or even services.

Project manager

This is the person-in-charge of project execution. His roles are monitoring the project, control as well as the closure of the activities of the project.

Stakeholder’s prioritization

The second step in communication planning is the prioritization of the stakeholders. According to O'Donovan (2017), helps in understanding the influence each and every stakeholder has on the project. Understanding their influence is critical as it helps in prioritizing the stakeholders to enable succession of the project. This is understanding which of the stakeholders to satisfy more and which ones to just listen to.

High power: high interest should be well satisfied. This is due to their high influence and interest in the project.

High power: less interest requires satisfaction on a regular basis while avoiding excessive attention that can lead to boredom.

Low power: high interest needs to be constant communication to avoid conflicts. They are important in the provision of project details.

Low power: less interest requires monitoring while offering only minimized communication.

This prioritization provides more information on how to come up with an effective way of treating the stakeholders (White & Zaccagnini, 2017).

Management of stakeholders

This is the final process of the plan. The process involves understanding the stakeholders well in relation to their personal interests, their interest in the project, finance and lastly their power on the project. This process will entail the characterization of each of the stakeholders. The process will entail a few questions which will require answers (Bourne, 2016).

Based on the information above, the following stakeholders for various positions will be chosen as follows:

Project sponsor

Jim will fill the position of the executive stakeholder. Although his skills have not been stated, he has since represented the interests of the stakeholders, made decisions and efforts to ensure that the interest of the project is given utmost importance.

Customer-project manager

Melissa Grant will occupy the position of the Customer-project manager based on her experience in risk management, project management knowledge as well as business analysis. This gives her an upper hand in liaising between the project manager and other stakeholders while solving conflicts that may come in. risk management will enable her to evaluate the prior conflicts which may hinder project success and thus best suited for the position.

Suppliers

Sara Jenkins will fill the position of supply stakeholder. This is based on her prior experience in procurement. She also has experience in electrical engineering which equips her with the basics of communication for the project.

Project manager

Mike Green with experience in public relations as well as marketing uplifts his qualification and fitness for the position. Communication requires a high interest in liaising with other stakeholders and a good understanding of information technology which will enable the stakeholder to perform his roles best.

The positions allocated to the stakeholders are all of the high power and high interest. This is because the choices have been made first based on the qualification and second on the interest areas of each of the candidates. This will require proper satisfaction of the stakeholders and constant communication.

Conclusion

Communication is a very important aspect in the management of a project. With better-positioned stakeholders, the objectives of the project will be fully met. As seen from the analysis of the stakeholders above, the selection should base on both the influence power as well as interest in order to enable maximum communication and success from the stakeholders.

References

Bourne, L. (2016). Stakeholder relationship management: a maturity model for organizational Binder, J. (2016). Global project management: communication, collaboration, and management across borders. Routledge.implementation. Routledge.

Eskerod, P., & Jepsen, A. L. (2016). Project stakeholder management. Routledge.

Harrington, H. J. (2016). Project Management (PM). The Innovation Tools Handbook, Volume 1: Organizational and Operational Tools, Methods, and Techniques that Every Innovator Must Know, 311.

O'Donovan, G. (2017). Solvency II: stakeholder communications and change. Routledge.

White, K. W., & Zaccagnini, M. E. (2017). A template for the DNP project. The doctor of nursing practice essentials, 443-502.