PMP in a Snap

Identifying Stakeholders

June 06, 2023 Kaye B Episode 36
Identifying Stakeholders
PMP in a Snap
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PMP in a Snap
Identifying Stakeholders
Jun 06, 2023 Episode 36
Kaye B

Identifying stakeholders is an ongoing activity. It analyzes and documenting relevant information regarding their interests, involvement, interdependencies, influence and potential impact on project success.  All lessons are based on the PMBOK®, 7th Edition.
 
CAPMP, PMP and PMBOK are registered marks of Project Management Institute, Inc.

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Get ready to ace the PMP exam like never before with Interactive PMP! Our interactive course is a game-changer, combining fun games and bite-sized videos to help you conquer the PMP certification. From project planning to risk management, we've got you covered. Master complex concepts effortlessly, thanks to our engaging and interactive approach. No more boring textbooks or sleep-inducing lectures. With the Interactive PMP, you'll be on your way to PMP success in no time! Don't wait to turbocharge your career.

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Show Notes Transcript

Identifying stakeholders is an ongoing activity. It analyzes and documenting relevant information regarding their interests, involvement, interdependencies, influence and potential impact on project success.  All lessons are based on the PMBOK®, 7th Edition.
 
CAPMP, PMP and PMBOK are registered marks of Project Management Institute, Inc.

Get your PMP Study Planner to help you study for the PMP Exam. 

Sign up to get updates on new episode.

Get ready to ace the PMP exam like never before with Interactive PMP! Our interactive course is a game-changer, combining fun games and bite-sized videos to help you conquer the PMP certification. From project planning to risk management, we've got you covered. Master complex concepts effortlessly, thanks to our engaging and interactive approach. No more boring textbooks or sleep-inducing lectures. With the Interactive PMP, you'll be on your way to PMP success in no time! Don't wait to turbocharge your career.

Email us: info@pmnotebooks.com

PMNotebooks.com
Facebook | Instagram | Twitter | LinkedIn | YouTube

About Kaye B
Medium | LinkedIn

Identifying stakeholders is an ongoing activity. It analyzes and documents relevant information regarding their interests, involvement, interdependencies, influence and potential impact on project success. The key benefit of this process is that it enables the project team to identify the appropriate focus for the engagement of each stakeholder or group of stakeholders.

How can you identify your stakeholders? It can come in all forms. It could be in a PowerPoint presentation, it could be in a creative brief. It could even come from meetings. 

 

When identifying stakeholders, you should consider the environmental factors such as 

●     Organization culture 

●     Political climate, government or industry standards

●     Global, regional, or local trends and practices or habits

●     Geographical distribution of facilities and resources

Now, there are some techniques you can use to find stakeholders. One of them is your expert judgment. You just know from your personal experience who should be invited to the project party because you have done it before, or not and suffered the consequences. You can also do questionnaires and surveys or brainstorming. 

When you find your stakeholders, they can be in specific subsets. What I mean is that someone may have an interest in the project because they will be affected by a decision related to the project or its outcomes. Or they may have rights that can be legal or moral, like occupational health or safety or even legislation. Then someone could be an owner like of an asset or property. There also can be a specialist with specific knowledge that can beneficial with effective delivery of the project or someone can just contribute via funds or other resources. When you put this all together, you should document them in a matrix so you know who and when to involve a stakeholder. Common documentation is a RACI which stands for Responsible, Accountable, Consult, and Inform. List all your stakeholders and identify where they fall in the RACI because not everyone needs to be in the status meeting. Sometimes they just need to know what is happening and where to find the latest information. When you create any documentation, it’s good practice to share it with your team and even the stakeholders to make sure they have buy-in so there is no confusion. Over-communicate with stakeholders. They always conveniently forget what they said 5 minutes ago. 

 

That is your PMP in a Snap. Talk to you next week.