Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Application of project management concepts
Application of project management concepts
Application of project management concepts
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Application of project management concepts
Plan Stakeholder Management
The input elements of plan stakeholder management consist of a project management plan, stakeholder registry, enterprise environmental factors, and organizational process assets. The tools and techniques comprises of expert judgement, meeting and analytical techniques. Lastly, the outputs are stakeholders’ management plan and project documents (PMBOK, 2013, p. 399) (see figure 2). Note: Reprinted from " Project Management Institute”, A guide to the project management body of knowledge, Copyright 2013 by Project Management Institute, Inc. Reprinted without permission.
Figure 2. 13.2 Plan Stakeholder process
I. Project Management Plan
The project management plan is used to create a collage of management planning
…show more content…
The organizational process assets are a combination of practices, artifacts, and knowledge from all areas of the organization that was involved in a project (PMBOK, 2013). The organization process assets should be treated as a living document that requires continuous updates and editing for future project managers to pull from. Lessons learned not only save time and money, but it also increases the success rate of a …show more content…
Tools and Techniques
Applying the necessary tools and techniques to manage stakeholders is an undertaking that requires constant engagement at each stage of the project. Using expert judgement a project manager may engage senior stakeholders early in the project to secure support and remove any impediments from the project (PMBOK, 2013). Expert judgment is particularly important at the beginning of a project. Simply having the senior stakeholders at the kickoff meeting will tacitly display to other stakeholders and team members the significance of the project.
In order to create a solid stakeholder management plan, expert judgement should be pursued. This consist of subject matter experts within the organization such as project team members, individuals with specialize skills, senior management, other project managers, and key stakeholders (PMBOK, 2013).Vigilance should be taken to adjust for the changing level of engagement from stakeholders as the project
Identifying stakeholders for an intervention is essential. Stakeholders are all of the individuals who are affected by and issue or problem (BOOK). The stakeholders are going to be the individuals who can work towards changing the problem and who deal with the concern at the front lines (BOOK).
Stakeholder analysis is important for successful implementation of projects and/or strategic activities within any organisation. It is used to analyse the stakeholders in order to understand them and classify them according to their power, influence and interest. Stakeholders are people who have an interest in a commercial entity including those within the organisation and outside. These include the boss, senior executives, customers, suppliers, government, your co-workers, the team and others. All these people are important in the implementation and success of strategy.
Graham, R. J. & Randall, L., Creating an Environment for Successful Projects: The Quests to Manage Project Management, second ed. San Francisco: Jossey-Bass, 65-113, 2003.
Mainardes, E., Alves, H., & Raposo, M. (2011). Stakeholder theory: Issues to resolve. Management Decision, 49(2), 226-252. http://dx.doi.org.ezproxy.liberty.edu:2048/10.1108/00251741111109133
The concept of a stakeholder approach to management, suggests that managers must formulate and implement many processes to satisfy the groups who have a stake in the firm. The main task in this process is to manage and integrate the relationships and interests of shareholders, employees, customers, suppliers, communities and the other groups in a way that ensures the long-term success of the firm.
Stakeholders’ analysis is the analysis which tells that how the company is dealing with the people which are directly or indirectly related with the company’s operations. These are called stakeholder and they include the employee, society, suppliers, buyers, shareholders, got and other tax related companies.
The project management team must identify the stakeholders, determine their requirements and then manage and identify those requirements to ensure a successful project. Stakeholder’s identification is often difficult. Key stakeholders on every project include: Project manager this is the individual responsible for managing the project. Customers are the individuals or organization that will use the project’s product. There may be multiple layers of customers. Project team members are the group that performs the work of the project and sponsor the individual or group within or external to the performance organization that provided the financial resources, in cash or in kind, for the project (Project Management institute, 2000)
Lastly, in order for this process to run smoothly constant communication, some giving and some losing has to happen between the stakeholders and the community. Doing all these things will keep the planning process organized, help eliminate setbacks and keep everyone on track and on the same page to bettering the
Another method for analysis is the stakeholder analysis (Savage, 1991). A stakeholder is any person or entity who can either be positively or negatively affected by actions or decisions that are taken by a company. Therefore a stakeholder analysis is a review of all the persons that will be affected by any decisions that are made by the company especially in the process of planning a new strategy. It is an analysis that needs to be conducted early on in the planning phase so that the business can ensure that all the required people and suggestions are included from the very beginning. A stakeholder analysis is crucial in determining whether a project or planning strategy will succeed or not. Poor stakeholder analysis will cripple the project
Stakeholders are people that are either directly or indirectly influenced by the decisions made inside a given business. For example, an internal stakeholder might be an employee or manager, and an external stakeholder could be society, shareholders, customers or the government. Stakeholders undoubtedly play a large role in the way BI strategies are conducted and the way in which decisions are made. The primary goal of a business is to offer a service and or product to sell to a customer. Hence it is in a business’s best interest to make decisions which have the best impact on stakeholders and it is also in their interest to prime their BI strategy to their stakeholders. As stated in the “Sustainability Matters” article from Oracle – “management teams must consider the needs of all stakeho...
With the help of the project team, the project is executed successfully. The second type of stakeholders are the the upper management. The upper management are the parties who select the project manager and the project team. They are also involved in different types of decisions that are made during a project. They also give the green go ahead to the project manager to go with the project execution decisions that were planned on. Lastly, there are the other outside stakeholders. These can include any investors, customers, and/or the government. These parties are someone outside from the company but they are effected by the project as well. Investors have financial tie up with the project, the customers may want quality goods for a reasonable price, and the government want the project to be executed according to the laws of the land. Thus, it is very important for
When planning a new project, how the project will be managed is one of the most important factors. The importance of a managers will determine the success of the project. The success of the project will be determined by how well it is managed. Project management is referred to as the discipline that entails the processes of carefully planning, organizing, controlling, and motivating the organization resources so as to foster and facilitate the achievement of specific established and desired goals and meet the specific criteria of success required in the organization (Larson, 2014). Over the course of this paper I will be discussing and analyzing the importance of project management.
Task two will be looking at what is a stake holder and will describe how a stakeholder management strategy would be constructed while sticking to company policies and procedures for this project. Also this document will include a brief description on the benefits from a stakeholder management system on the project.
Management must ensure that strategic decisions are reached after taking into account the possible impact on the stakeholders. Stakeholders are suppliers, customers, societies and anybody who is affected by the activities of the business. A socially responsible company treats stakeholders equally. Wider perspectives also have to be considered in terms of environmental and social impact of planned activities.
PMBOK Guide. (2013). A Guide to the Project Management Body of Knowledge (PMBOK Guide)-Fifth edition. In Project Management Institute. Retrieved January 31, 2014, from https://read.amazon.com/.