Pmp Exam Prep Must Review Stakeholders And Related Data

By Author: Kimberly Bloch
Total Articles: 16
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PMP exam prep must review stakeholders and related data.

Identifying stakeholders is the process of identifying people or organizations that are impacted by the project and documenting information concerning their interests, level of involvement, and impact on the success of the project.

Most projects will have many stakeholders and it is important to identify them and their level of involvement early on in the project. This will help the project manager focus on the stakeholder relationships that will help the project be successful.

IDENTIFY STAKEHOLDERS – INPUTS:

Project Charter: This can provide information about the internal and external parties involved in or affected by the project. These may include: project sponsors, customers, team members, groups participating in the project and those affected by the project. PMP exam prep will include examples of charters.
 
Procurement Documents: If a project is the result of procurement activity or is the result of an established contract, the parties named in the contract are key project stakeholders. Other relevant parties that ...
... are part of the contract (such as suppliers) are also stakeholders.
 
Enterprise Environmental Factors: Company culture and structure and government or industry standards may also influence the Identify Stakeholders process.
 
Organizational Process Assets: Stakeholder register templates, lessons learned from previous projects, and stakeholder registers from previous projects can influence the Identify Stakeholder process. PMP exam prep will include examples of these.

IDENTIFY STAKEHOLDERS – TOOLS AND TECHNIQUES:

Stakeholder Analysis: This is the process of gathering and analyzing information in order to determine which interests are most important during the project.

Step 1: Identify potential stakeholders and their roles, interests, etc. Key stakeholders are usually easily identified as they are in management roles and directly impacted by the project outcome. Other stakeholders are usually identified by interviewing the current known stakeholders.
 
Step 2: Identify the influence each stakeholder has in the project and classify
them in order to devise an approach strategy. When there is a large number of stakeholders, it is necessary to prioritize the key stakeholders so that their expectations are met.

Stakeholder Analysis (Step 2 continued):

Some of the classification models include:

Power/Interest grid where the stakeholders are grouped based on their authority (“power”) level and their interest in the project outcomes

Power/Influence grid where the stakeholders are grouped by their “power” and their active involvement ("influence”) in the project

Influence/Impact grid where the stakeholders are grouped based on their “influence” in the project and their ability to make important changes to the project (“impact”).

Salience model: This model groups the stakeholders based on their “power”, need for attention (“urgency”), and legitimacy (their appropriate involvement in the project).

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