Project Management, Essay Example

Why Is Stakeholder Analysis Of Importance To Project Managers?

Project managers play a crucial role in ensuring the successful completion of a project. In addition, project managers ensure that the project is on track and objectives of the project are achieved within the stipulated time. In order to achieve this, project managers must work in hand with other members of the project who comprise the stakeholder. During the assessment of the project, the stakeholders develop an analysis, which outlines their perception of the progress of the project. In my opinion, this analysis plays a crucial role in the project’s lifecycle and in ensuring accountability. In most cases, stakeholders have positive influences on the project because their main agenda is to ensure the success of the project and the attainment of the project’s objectives. Stakeholder analysis helps project managers to assess and analyze crucial information on the project. In addition, this analysis plays a crucial role in informing the manager on the notions and perceptions of the stakeholders on the project (Project Management Institute, 2008). Stakeholder analysis helps the project managers to identify suitable individuals to liaise with about the project. This analysis also has crucial information on the identification of the stakeholders and their roles, agendas, expectations and influence levels on the project. Most importantly, stakeholder analysis helps the manager to prepare for meetings and plan communications with the stakeholders, in addition to identifying relationships within, the project.

What Are The Best Tools That You Have Seen For Documenting Stakeholders And Their Concern?

Numerous and different tools exist for documenting stakeholders. These include procurement document, project charter, and organizational process asset and enterprise environment factors. In addition to these tools, other tools include stakeholder management strategy and stakeholder registry. These tools play crucial and different roles in the documentation process. The management strategy has information concerning stakeholder’s potential strategy and influence levels (Project Management Institute, 2008). The registry has information about the stakeholders and their interests, and the procurement document and project charter have information about the stakeholders involved with the project and their contacts. In addition, these two documents have crucial information on stakeholders concerns and project requirements. The analysis matrix of the stakeholders provides means for representing the stakeholder’s strategy on support and minimizing negative impacts on the project.

If A New Stake Holder Was Identified By A Member Of Your Project Team, What Actions Would You Take? Why?

Project management requires conscious selection of suitable individuals to include in the project team. This happens in order to protect the project from the negative influence and control of the project. Essentially an individual may identify individuals for the team with the aims of using these individuals as their puppets. In order to avoid these instances, I will introduce this stakeholder to the list of stakeholders with interest to the project (Panneerselvam, & Senthilkumar, 2010). This will enable the determination of the stakeholders influence level, expectations, requirements and interests. In addition, I will plan to communicate these events to the other members of stakeholders and finally manage the expectations of this stakeholder.

These actions are crucial in protecting the project from adverse changes in budget and scope. In addition, they are crucial in preventing delays and possible failures to the project. The objectives of the project surpass the interests of the stakeholders and these actions would aim at protecting the project or achieving maximum good for the project (Panneerselvam, & Senthilkumar, 2010).

 Reference

Project Management Institute. (2008). A Guide to the Project Management Body of Knowledge (PMBOK Guide) Fourth Edition. Newtown Square, PA: Project Management Institute.

Panneerselvam, R., & Senthilkumar, P. (2010). Project management. New Delhi: PHI Learning.