Assessment of stakeholders (analysis) - Revision history

S193995: /* Conclusion */

2023-05-09T19:23:37Z

Conclusion

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	In conclusion, stakeholder assessment is a critical process that can significantly impact the success of any project or business strategy. Stakeholder engagement encompasses a wide range of factors, and it is crucial to carefully choose the tools and approaches that align with the specific objectives one aims to achieve. It should not be viewed as a strictly linear process, but rather as an iterative one that emphasizes the selection and application of appropriate tools and theories suitable for the situation. Through stakeholder analysis and evaluation, organizations can identify and prioritize stakeholders, understand their needs and interests, and develop strategies for effective engagement and management.		In conclusion, stakeholder assessment is a critical process that can significantly impact the success of any project or business strategy. Stakeholder engagement encompasses a wide range of factors, and it is crucial to carefully choose the tools and approaches that align with the specific objectives one aims to achieve. It should not be viewed as a strictly linear process, but rather as an iterative one that emphasizes the selection and application of appropriate tools and theories suitable for the situation. Through stakeholder analysis and evaluation, organizations can identify and prioritize stakeholders, understand their needs and interests, and develop strategies for effective engagement and management.

	The key steps in the stakeholder assessment process can help any project be better suited at turning the project into a success. The process includes identifying stakeholders, analyzing their interests and potential, evaluating their power and influence and finally maintaining the achieved outcome through continuous stakeholder monitoring and engagement. The use of various tools and techniques such as stakeholder mapping, stakeholder and ~~power~~-~~interest grid~~ can help to facilitate the assessment process. Achieving a favourable project outcome involves striking a balance among stakeholders' interests, recognizing their different types, and determining appropriate ~~modes~~ of interaction. It is also essential to be aware of the potential challenges and limitations associated with stakeholder assessment.		The key steps in the stakeholder assessment process can help any project be better suited at turning the project into a success. The process includes identifying stakeholders, analyzing their interests and potential, evaluating their power and influence and finally maintaining the achieved outcome through continuous stakeholder monitoring and engagement. The use of various tools and techniques such as stakeholder mapping, stakeholder and Power-Interest Grid can help to facilitate the assessment process. Achieving a favourable project outcome involves striking a balance among stakeholders' interests, recognizing their different types, and determining appropriate ways of interaction. It is also essential to be aware of the potential challenges and limitations associated with stakeholder assessment. While the tools and techniques in this field of project management are never-ending, the list of tools is a non-exhaustive one and the works presented here a merely a suggestion on how to navigate the vast topic of stakeholder assessment.

	~~Overall~~, stakeholder assessment is ~~a crucial~~ process ~~to identify~~, ~~understand~~, ~~prioritize~~ and ~~implement,~~ and it can contribute significantly to the success of projects and strategies. Mastering the art of stakeholder assessment allows the project manager to execute the endeavour and thereby obtain the desired outcomes of a project, portfolio or programme.		To summarise, stakeholder assessment is an important process that revolves around the identification, interpretation, prioritisation and implementation of knowledge and learnings in relation to the stakeholders of a project. It can contribute significantly to the success of projects and strategies. Mastering the art of stakeholder assessment allows the project manager to execute the endeavour successfully and thereby obtain the desired outcomes of a project, portfolio or programme.

	= Bibliography =		= Bibliography =

S193995: /* Challenges and Limitations */

2023-05-09T19:18:28Z

Challenges and Limitations

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	=== Conflict of Interest ===		=== Conflict of Interest ===

	~~One of the most~~ significant ~~challenges~~ in stakeholder assessment is dealing with conflicts of interest. Stakeholders may have conflicting interests, which can make it difficult for organizations to determine which stakeholder groups to prioritize. For example, a company may be faced with the competing interests of its shareholders, employees, and customers <ref name="Freemann"></ref>. As Kujala et. al. puts it: "''Conflict may arise from differing goals, expectations, or the clashing of cultural norms'' "<ref name="Kujala"></ref>. ~~In such cases~~, it is essential to establish a ~~fair~~ and transparent process for stakeholder engagement, where all stakeholders have an opportunity to express their concerns. Stakeholder assessment involves dealing with diverse interests and opinions, which can be challenging to manage. It is essential to ensure that all stakeholders are engaged in a meaningful and respectful way, and that their concerns are taken seriously <ref name="Kujala"></ref>.		A significant challenge in stakeholder assessment is dealing with conflicts of interest. Stakeholders may have conflicting interests, either internally or externally, which can make it difficult for organizations to determine which stakeholder groups to prioritize. For example, a company may be faced with the competing interests of its shareholders, employees, and customers <ref name="Freemann"></ref>. As Kujala et. al. puts it: "''Conflict may arise from differing goals, expectations, or the clashing of cultural norms'' "<ref name="Kujala"></ref>. To be prepared for this, it is essential to establish a just and transparent process for stakeholder engagement, where all stakeholders have an opportunity to express their concerns. Stakeholder assessment involves dealing with diverse interests and opinions, which can be challenging to manage. It is essential to ensure that all stakeholders are engaged in a meaningful and respectful way and that their concerns are taken seriously <ref name="Kujala"></ref>.

	=== Unequal Access to Resources ===		=== Unequal Access to Resources ===

	Another significant challenge is the unequal access to resources. Different stakeholders may have different levels of access to information, resources, and decision-making processes. This can cause ~~power~~ imbalances among the stakeholder and ~~makes~~ it difficult for the project owner to meet stakeholder needs. The occurrence of stakeholder perception gaps can cause a mismatch of interests and values for stakeholder engagement. This is a threat to any project. It is essential to establish processes that enable all stakeholders to have equal access to ~~information and~~ resources. Furthermore, it is crucial to ensure that each stakeholder is engaged in a respectful way in order to manage diverse interests and opinions <ref name="Kujala"></ref>.		Another significant challenge is the unequal access to resources. Different stakeholders may have different levels of access to information, resources, and decision-making processes. This can cause imbalances among the stakeholder and make it difficult for the project owner to meet stakeholder needs. The occurrence of stakeholder perception gaps can cause a mismatch of interests and values for stakeholder engagement. This is a threat to any project. It is essential to establish processes that enable all stakeholders to have somewhat equal access to resources. Furthermore, it is crucial to ensure that each stakeholder is engaged in a respectful way in order to manage diverse interests and opinions <ref name="Kujala"></ref>.

	=== Clear definitions and structured planning ===		=== Clear definitions and structured planning ===

	~~Making decisions~~ based on clear definitions and sufficient available information is ~~crucial as~~ a project manager. Kujala et. al.'s paper suggests that there is a need for a more detailed view of the negative impacts derived from stakeholder management and why they occur. The article differs between unintentional and intentional negative consequences in relation to the origin, aims, activities and impacts of projects. ~~Nevertheless~~, operating with unified and clear definitions is beneficial for stakeholder management as a whole <ref name="Kujala"></ref>. Bendtsen et. al. backs this statement by identifying the lack of definitions of key concepts like "stakeholders" as well as the challenge of determining the individual power and influence of each stakeholder <ref name="Bendtsen"></ref>.		Decision-making based on clear definitions and sufficient available information is important for a project manager. Furthermore, it is important that all stakeholders - and especially the project team - are aligned on the objective. Kujala et. al.'s paper suggests that there is a need for a more detailed view of the negative impacts derived from stakeholder management and why they occur. The article differs between unintentional and intentional negative consequences in relation to the origin, aims, activities and impacts of projects. In relation to that, operating with unified and clear definitions is beneficial for stakeholder management as a whole <ref name="Kujala"></ref>. Bendtsen et. al. backs this statement by identifying the lack of definitions of key concepts like "stakeholders" as well as the challenge of determining the individual power and influence of each stakeholder <ref name="Bendtsen"></ref>.
	Furthermore, it is key to have a structured and systemic approach to stakeholder assessment, as it can cause major problems in projects to have a lack or weakness of structured planning ~~for~~ all aspects of the project. This entails an effective way of identifying and communicating with stakeholders <ref name="Ibraheem"></ref>.		Furthermore, it is key to have a structured and systemic approach to stakeholder assessment, as it can cause major problems in projects to have a lack or weakness of structured planning as it affects all aspects of the project. This entails an effective way of identifying and communicating with stakeholders <ref name="Ibraheem"></ref>.

	= Conclusion =		= Conclusion =

S193995: /* Company A */

2023-05-09T19:12:21Z

Company A

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	=== Company A ===		=== Company A ===

	In this example, Company A had already completed the initial steps in the stakeholder assessment process. However, revisiting the prioritization of stakeholders allowed them to reevaluate their approach and improve ~~their handling of the issue~~. This exercise also ~~led to~~ a more streamlined process for future projects. Initially, Company A created an organization diagram to gain an overview of relevant ~~entities~~ related to the project. Specifically, the Sales Department's ~~regular~~ input ~~of data~~ was crucial ~~for better~~ forecasting of supply and demand.		In this example, Company A had already completed the initial steps in the stakeholder assessment process. However, revisiting the prioritization of stakeholders allowed them to reevaluate their approach and improve how they engaged in issues related to stakeholders. This exercise also resulted in a more streamlined process for future projects. Initially, Company A created an organization diagram to gain an overview of relevant stakeholders related to the project. Specifically, the Sales Department's data input was crucial to optimize the forecasting of supply and demand, which was a major part and partial objective of the strategy.

	Through interviews, Company A discovered a lack of buy-in from the Sales Department. By mapping the most important stakeholders, particularly in relation to gaining buy-in for the overall project, Company A was able to develop effective engagement strategies tailored to the Sales Department. This stakeholder mapping exercise provided a ~~deeper~~ understanding of the problem.		Through interviews, Company A discovered a lack of buy-in from the Sales Department. By mapping the most important stakeholders, particularly in relation to gaining buy-in for the overall project, Company A was able to develop effective engagement strategies tailored to the Sales Department. This stakeholder mapping exercise provided a greater understanding of the problem.

	[[File:PowerInterestGrid.png\|400px\|border\|thumbnail\|center\|'''Figure 7:''' Power-Interest Grid applied to Company A (analysis applied to company in the DTU course APPPM)]]		[[File:PowerInterestGrid.png\|400px\|border\|thumbnail\|center\|'''Figure 7:''' Power-Interest Grid applied to Company A (analysis applied to the company in the DTU course APPPM)]]

	The applied Power-Interest Grid ('''Figure 7''') illustrates that the Slaughtering Department had low power and interest regarding this project aspect, making them not relevant in this context. The Sales Department, on the other hand, showed a low interest in data input, but had the primary control and power over the data collection process. Company A's top management department, ~~depicted~~ with high power and high interest in the project, would typically be the main stakeholder to monitor. However, since they were already fully on board and motivated, they were not the primary focus for increasing stakeholder buy-in.		The applied Power-Interest Grid ('''Figure 7''') illustrates that the Slaughtering Department had low power and interest regarding this project aspect, making them not relevant in this context. The Sales Department, on the other hand, showed a low interest in data input, but had the primary control and power over the data collection process. This was a clear conflict of interest. Company A's top management department, illustrated with high power and high interest in the project, would typically be the main stakeholder to monitor from a classical perspective of the Power-Interest Grid. However, since they were already fully on board and motivated, they were not the primary focus for increasing stakeholder buy-in (as shown with the arrow).

	In that discussion, it is important to note that the Power-Interest Grid has limitations, and the project manager must leverage its strengths. In hindsight, adopting a different approach, such as changing the axis to impact on the project and probability of impact, may have been beneficial. This approach would have made more sense for the ongoing supply and demand forecasting project, giving greater attention to the Sales Department from the beginning and potentially ~~preventing~~ issues later on. However, such an adjustment would make it more challenging to create an overarching tool for stakeholder buy-in in future projects. Based on the analysis, increasing interest from the Sales Department was crucial, and the analysis served as a starting point for developing the necessary tools and strategies to enhance their engagement. Using the Power-Interest Grid and revisiting stakeholder prioritization allowed Company A to address the specific needs of the Sales Department and develop an effective engagement plan ~~tailored~~ to their ~~requirements~~.		In that discussion, it is important to note that the Power-Interest Grid has limitations, and the project manager must leverage its strengths. In hindsight, adopting a different approach, such as changing the axis to impact on the project and probability of impact, may have been beneficial. This approach would have made more sense for the ongoing supply and demand forecasting project, giving greater attention to the Sales Department from the beginning and potentially mitigating issues later on. However, such an adjustment would make it more challenging to create an overarching tool for stakeholder buy-in in future projects. Based on the analysis, increasing interest from the Sales Department was crucial, and the analysis served as a starting point for developing the necessary tools and strategies to enhance their engagement. Using the Power-Interest Grid and revisiting stakeholder prioritization allowed Company A to address the specific needs of the Sales Department and develop an effective engagement plan to cater for their needs.

	= Challenges and Limitations =		= Challenges and Limitations =

S193995: /* Monitoring: Stakeholder Action Plan */

2023-05-09T19:06:13Z

Monitoring: Stakeholder Action Plan

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	=== Monitoring: Stakeholder Action Plan ===		=== Monitoring: Stakeholder Action Plan ===

	Collecting all of the input from the previous step is key to maintaining good stakeholder management. Developing a stakeholder action plan is a great tool to do so. It specifies the specific actions needed to move the project forward and ensures consistent engagement with stakeholders to address concerns and challenges that may arise. It outlines specific actions, responsibilities, and timelines for engaging with stakeholders. In simple terms, it can be viewed as a register of all the data obtained in the previous steps. The plan should include a list of the stakeholders, a clear outline of roles and responsibilities, a timeline, communication and engagement strategies as well as space for evaluation and feedback to ensure continuous improvements <ref name="SMPT"></ref> <ref name="Ibraheem"></ref>.		Collecting all of the input from the previous step is key to maintaining good stakeholder management. Developing a stakeholder action plan is a great tool to do so. It specifies the specific actions needed to move the project forward and ensures consistent engagement with stakeholders to address concerns and challenges that may arise. It outlines specific actions, responsibilities, and timelines for engaging with stakeholders. In simple terms, it can be viewed as a register of all the data obtained in the previous steps and the rough strategy to remediate any existing challenges. The plan should include a list of the stakeholders, a clear outline of roles and responsibilities, a timeline, communication and engagement strategies as well as space for evaluation and feedback to ensure continuous improvements <ref name="SMPT"></ref> <ref name="Ibraheem"></ref>.

S193995: /* Prioritizing Stakeholders: Power-Interest Grid */

2023-05-09T19:04:45Z

Prioritizing Stakeholders: Power-Interest Grid

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	=== Prioritizing Stakeholders: Power-Interest Grid ===		=== Prioritizing Stakeholders: Power-Interest Grid ===

	The ~~power interest grid~~ is a tool used in stakeholder analysis to map stakeholders based on their level of power and interest in a project or organisation. It helps prioritize stakeholders and supports decision-making. The tool comes in various forms, such as Influence-Impact Grid or Influence-Interest Matrix designed to prioritize stakeholders, and the axes can be changed as the project manager desires.		The Power-Interest Grid is a tool used in stakeholder analysis to map stakeholders based on their level of power and interest in a project or organisation. It helps prioritize stakeholders and supports decision-making. The tool comes in various forms, such as Influence-Impact Grid or Influence-Interest Matrix designed to prioritize stakeholders, and the axes can be changed as the project manager desires.
	It helps to identify the stakeholders that require the most attention and prioritize the allocation of resources accordingly. The grid works as a grid with four quadrants, where stakeholders are plotted based on their level of power and interest relative to the project. The purpose of the Power-Interest Grid is to ensure that the identified stakeholders who are most interested in the project are kept informed and engaged throughout the process. Stakeholders in the "high-power/high-interest" quadrant should receive the most attention, followed by those in the "high-power/low-interest" quadrant, then those in the "low-power/high-interest" quadrant and finally "low-power/low-interest" quadrant should receive the least amount of attention. Irrespective of project size, is crucial for the success of the project that the relationships with powerful, influential, and interested stakeholders are managed properly <ref name="mendelow"></ref> <ref name="mindtools"></ref>.		It helps to identify the stakeholders that require the most attention and prioritize the allocation of resources accordingly. The grid works as a grid with four quadrants, where stakeholders are plotted based on their level of power and interest relative to the project. The purpose of the Power-Interest Grid is to ensure that the identified stakeholders who are most interested in the project are kept informed and engaged throughout the process. Stakeholders in the "high-power/high-interest" quadrant should receive the most attention, followed by those in the "high-power/low-interest" quadrant, then those in the "low-power/high-interest" quadrant and finally "low-power/low-interest" quadrant should receive the least amount of attention. Irrespective of project size, is crucial for the success of the project that the relationships with powerful, influential, and interested stakeholders are managed properly <ref name="mendelow"></ref> <ref name="mindtools"></ref>.

S193995: /* Analyse and categorise the stakeholder: Stakeholder Matrix */

2023-05-09T19:04:12Z

Analyse and categorise the stakeholder: Stakeholder Matrix

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	This tool, often also referred to as stakeholder register or engagement matrix, takes the input gained from qualitative and quantitative methods such as interviews, surveys and other relevant data collection and documents it <ref name="Forman"></ref>.		This tool, often also referred to as stakeholder register or engagement matrix, takes the input gained from qualitative and quantitative methods such as interviews, surveys and other relevant data collection and documents it <ref name="Forman"></ref>.
	While there are various ways to collect stakeholder insights, a classical stakeholder analysis matrix is optimal to keep track of the knowledge obtained. The tool can be customised to fit the needs of the project manager depending on the wanted level of detail and type of categorization. It usually involves the name of the stakeholder, area of interest, contribution, expectations and influence. It may also be used in relation to stakeholder buy-in as a stakeholder engagement matrix, where the purpose of the tool is to determine whether the stakeholder is unaware, resistant, neutral, supportive, or leading. With this tool it is easier to prioritize and be proactive towards stakeholders <ref name="Seb"></ref>.		While there are various ways to collect stakeholder insights, a classical stakeholder analysis matrix is optimal to keep track of the knowledge obtained. The tool can be customised to fit the needs of the project manager depending on the wanted level of detail and type of categorization. It usually involves the name of the stakeholder, area of interest, contribution, expectations and influence. It may also be used in relation to stakeholder buy-in as a stakeholder engagement matrix, where the purpose of the tool is to determine whether the stakeholder is unaware, resistant, neutral, supportive, or leading. With this tool it is easier to prioritize and be proactive towards stakeholders <ref name="Seb"></ref>. The tool below is a mix of both the stakeholder register and the engagement matrix.

S193995: /* Analyse and categorise the stakeholder: Stakeholder Matrix */

2023-05-09T19:03:26Z

Analyse and categorise the stakeholder: Stakeholder Matrix

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	=== Analyse and categorise the stakeholder: Stakeholder Matrix ===		=== Analyse and categorise the stakeholder: Stakeholder Matrix ===

	This tool, often also referred to as stakeholder register or engagement matrix, takes the input gained from qualitative and quantitative methods such as interviews, surveys and other relevant data collection <ref name="Forman"></ref>.		This tool, often also referred to as stakeholder register or engagement matrix, takes the input gained from qualitative and quantitative methods such as interviews, surveys and other relevant data collection and documents it <ref name="Forman"></ref>.
	While there are various ways to collect stakeholder insights, a classical stakeholder analysis matrix is optimal to keep track of the knowledge obtained. The tool can be customised to fit the needs of the project manager depending on the wanted level of detail. It usually involves the name of the stakeholder, area of interest, contribution, expectations and influence. It may also be used in relation to stakeholder buy-in as a stakeholder engagement matrix, where the purpose of the tool is to determine whether the stakeholder is unaware, resistant, neutral, supportive, or leading. With this tool it is easier to prioritize and be proactive towards stakeholders <ref name="Seb"></ref>.		While there are various ways to collect stakeholder insights, a classical stakeholder analysis matrix is optimal to keep track of the knowledge obtained. The tool can be customised to fit the needs of the project manager depending on the wanted level of detail and type of categorization. It usually involves the name of the stakeholder, area of interest, contribution, expectations and influence. It may also be used in relation to stakeholder buy-in as a stakeholder engagement matrix, where the purpose of the tool is to determine whether the stakeholder is unaware, resistant, neutral, supportive, or leading. With this tool it is easier to prioritize and be proactive towards stakeholders <ref name="Seb"></ref>.

S193995: /* Analyse and categorise the stakeholder: Stakeholder Matrix */

2023-05-09T19:02:31Z

Analyse and categorise the stakeholder: Stakeholder Matrix

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	=== Analyse and categorise the stakeholder: Stakeholder Matrix ===		=== Analyse and categorise the stakeholder: Stakeholder Matrix ===

	This tool, often referred to as stakeholder register or engagement matrix, takes the input gained from qualitative and quantitative methods such as interviews, surveys and other relevant data collection <ref name="Forman"></ref>.		This tool, often also referred to as stakeholder register or engagement matrix, takes the input gained from qualitative and quantitative methods such as interviews, surveys and other relevant data collection <ref name="Forman"></ref>.
	While there are various ways to collect stakeholder insights, a classical stakeholder analysis matrix is optimal to keep track of the knowledge obtained. The tool can be customised to fit the needs of the project manager depending on the wanted level of detail. It usually involves the name of the stakeholder, area of interest, contribution, expectations and influence. It may also be used in relation to stakeholder buy-in as a stakeholder engagement matrix, where the purpose of the tool is to determine whether the stakeholder is unaware, resistant, neutral, supportive, or leading. With this tool it is easier to prioritize and be proactive towards stakeholders <ref name="Seb"></ref>.		While there are various ways to collect stakeholder insights, a classical stakeholder analysis matrix is optimal to keep track of the knowledge obtained. The tool can be customised to fit the needs of the project manager depending on the wanted level of detail. It usually involves the name of the stakeholder, area of interest, contribution, expectations and influence. It may also be used in relation to stakeholder buy-in as a stakeholder engagement matrix, where the purpose of the tool is to determine whether the stakeholder is unaware, resistant, neutral, supportive, or leading. With this tool it is easier to prioritize and be proactive towards stakeholders <ref name="Seb"></ref>.

S193995: /* Monitor Engagement: Plan, implement and communicate */

2023-05-09T19:01:28Z

Monitor Engagement: Plan, implement and communicate

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	The final step in the stakeholder assessment process is to develop a plan to engage with the stakeholders, implement the plan, and communicate with them throughout the project lifecycle. This involves developing communication strategies that are tailored to the needs and interests of each stakeholder group, and ensuring that key entities are informed of the project's progress and changes that could impact them.		The final step in the stakeholder assessment process is to develop a plan to engage with the stakeholders, implement the plan, and communicate with them throughout the project lifecycle. This involves developing communication strategies that are tailored to the needs and interests of each stakeholder group, and ensuring that key entities are informed of the project's progress and changes that could impact them.

	By engaging with stakeholders throughout the project lifecycle, you can build trust and establish strong relationships that assist in making the project successful. This will ensure stakeholder buy-in and build the foundation for more successful projects. Monitoring stakeholder engagement is a reoccurring step, that will require you, as a project manager, to frequently check up on your stakeholders. Make sure that they are on board and following the project plan, and investigate if there are any challenges on the horizon and how you might remediate those challenges. <ref name="Forman"></ref>.		By engaging with stakeholders throughout the project lifecycle, you can build trust and establish strong relationships that assist in making the project successful. This will ensure stakeholder buy-in and build the foundation for more successful projects. Monitoring stakeholder engagement is a reoccurring step, that will require you, as a project manager, to frequently check up on your stakeholders. Make sure that they are on board and following the project plan. Also, be proactive and investigate if there are any challenges on the horizon and how you might remediate those challenges. <ref name="Forman"></ref>.

	[[File:P 1.jpeg\|1000px\|frame\|center\|'''Figure 2:''' Stakeholder Management Process\|link=https://www.pmi.org/learning/library/stakeholder-management-plan-6090]]		[[File:P 1.jpeg\|1000px\|frame\|center\|'''Figure 2:''' Stakeholder Management Process\|link=https://www.pmi.org/learning/library/stakeholder-management-plan-6090]]

S193995: /* Stakeholder Assessment Process */

2023-05-09T19:00:36Z

Stakeholder Assessment Process

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	= Stakeholder Assessment Process =		= Stakeholder Assessment Process =

	Each step is outlined to give the reader a context, however, the actual stakeholder assessment primarily takes place in steps 3 & 4, as illustrated in '''Figure 1''' or shown in the stakeholder management plan phase, step 2 & 3, of '''Figure 2'''. The tools connected to each step are merely suggestions and it is a non-exhaustive list of tools as stakeholder is a vast topic. The article will have a higher focus on the 3rd step and the tools that are relevant for this phase of stakeholder assessment, as it will be applied to a case company. It is relevant to note, that these steps recur in various other guides on stakeholder management and stakeholder analysis, and literature often uses these definitions interchangeably. In the section, "''Tools & Techniques'' ", selected tools and techniques are presented to equip the project manager with the necessary knowledge to perform each step of the stakeholder assessment. In the following to models, shows ~~two~~ classical ways of ~~understanding~~ stakeholder engagement and management processes <ref name="PMBOOK"></ref> <ref name="Irwin"></ref>.		Each step is outlined to give the reader a context, however, the actual stakeholder assessment primarily takes place in steps 3 & 4, as illustrated in '''Figure 1''' or shown in the stakeholder management plan phase, step 2 & 3, of '''Figure 2'''. The tools connected to each step are merely suggestions and it is a non-exhaustive list of tools as stakeholder is a vast topic. The article will have a higher focus on the 3rd step and the tools that are relevant for this phase of stakeholder assessment, as it will be applied to a case company. It is relevant to note, that these steps recur in various other guides on stakeholder management and stakeholder analysis, and literature often uses these definitions interchangeably. In the section, "''Tools & Techniques'' ", selected tools and techniques are presented to equip the project manager with the necessary knowledge to perform each step of the stakeholder assessment. In the following, two models shows classical ways of comprehenting stakeholder engagement and management processes <ref name="PMBOOK"></ref> <ref name="Irwin"></ref>.

	[[File:P2.png\|center\|frame\|'''Figure 1:''' Stakeholder Engagement Process by PMBOK ® Guide\|link=https://findit.dtu.dk/en/catalog/61f92f6644ccbf17cdd9f5c1]]		[[File:P2.png\|center\|frame\|'''Figure 1:''' Stakeholder Engagement Process by PMBOK ® Guide\|link=https://findit.dtu.dk/en/catalog/61f92f6644ccbf17cdd9f5c1]]
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	===== Identification: Brainstorm on and document stakeholders =====		===== Identification: Brainstorm on and document stakeholders =====

	Stakeholder identification is ~~crucial to~~ the success of any project, as it ensures that all individuals or groups affected by the project are identified and their needs and expectations are taken into account. This process is ongoing, iterative and requires effort to determine who will be impacted by the project, as well as to manage them throughout the project life cycle <ref name="Irwin"></ref>.		Stakeholder identification is important for the success of any project, as it ensures that all individuals or groups affected by the project are identified and their needs and expectations are taken into account. This process is ongoing, iterative and requires effort to determine who will be impacted by the project, as well as to manage them throughout the project life cycle <ref name="Irwin"></ref>.
	To start the identification process, ~~it is important~~ to review relevant project documents, organizational policies, and guidelines to identify stakeholders who ~~may~~ have ~~regulatory~~ requirements that need to be taken into account. Brainstorming with a diverse group of individuals can be beneficial to identify essential stakeholders ~~who may not have been~~ identified. A comprehensive stakeholder identification plan can be created using techniques such as stakeholder mapping, project charter, and stakeholder register, setting the project up for success <ref name="Smith"></ref>.		To start the identification process, one needs to review relevant project documents, organizational policies, and guidelines to identify stakeholders, who have various requirements that need to be taken into account. Brainstorming with a diverse group of individuals can be beneficial to identify essential stakeholders that are yet to be identified. A comprehensive stakeholder identification plan can be created using techniques such as stakeholder mapping, project charter, and stakeholder register, setting the project up for success <ref name="Smith"></ref>.

	===== Analysis: Categorize and analyze interests and potential =====		===== Analysis: Categorize and analyze interests and potential =====

	After stakeholders have been identified~~, documented~~ and brainstormed upon, it is crucial to classify and evaluate their interests and potential effects on the project. This entails reviewing how the project's objectives correspond with the expectations and concerns of the stakeholders. By obtaining this information a project manager ~~can~~ more easily comprehend their potential impact on the project and how to engage with them effectively. Use this step to find out what each stakeholder group's particular interests, demands, and expectations are. Surveys, interviews, focus groups, and one-on-one interactions are some tools that can be used to accomplish this. Take into account their goals for the project, their motives, and any potential conflicts of interest. Being able to clearly describe your project and the outcome of the project will improve the quality of this step <ref name="PMBOOK"></ref> <ref name="Forman"></ref>.		After stakeholders have been identified and brainstormed upon, it is crucial to classify and evaluate their interests and potential effects on the project. This entails reviewing how the project's objectives correspond with the expectations and concerns of the stakeholders. By obtaining this information a project manager may more easily comprehend their potential impact on the project and how to engage with them effectively. Use this step to find out what each stakeholder group's particular interests, demands, and expectations are. Surveys, interviews, focus groups, and one-on-one interactions are some tools that can be used to accomplish this. Take into account their goals for the project, their motives, and any potential conflicts of interest. Being able to clearly describe your project and the outcome of the project will improve the quality of this step <ref name="PMBOOK"></ref> <ref name="Forman"></ref>.

	===== Prioritization: Evaluate stakeholder power and influence =====		===== Prioritization: Evaluate stakeholder power and influence =====
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	===== Monitor Engagement: Plan, implement and communicate =====		===== Monitor Engagement: Plan, implement and communicate =====

	The final step in the stakeholder assessment process is to develop a plan to engage with the stakeholders, implement the plan, and communicate with them throughout the project lifecycle. This involves developing communication strategies that are tailored to the needs and interests of each stakeholder group, and ensuring that ~~stakeholders~~ are informed of the project's progress and ~~any~~ changes that ~~may~~ impact them.		The final step in the stakeholder assessment process is to develop a plan to engage with the stakeholders, implement the plan, and communicate with them throughout the project lifecycle. This involves developing communication strategies that are tailored to the needs and interests of each stakeholder group, and ensuring that key entities are informed of the project's progress and changes that could impact them.

	By engaging with stakeholders throughout the project lifecycle, you can build trust and establish strong relationships that assist in making the project successful. This will ensure stakeholder buy-in and build the foundation for more successful projects. Monitoring stakeholder engagement is a reoccurring step, that will require you, as a project manager, to frequently check up on your stakeholders. Make sure that they are on board and following the project plan, and investigate if there are any challenges on the horizon and how you might remediate those challenges. <ref name="Forman"></ref>.		By engaging with stakeholders throughout the project lifecycle, you can build trust and establish strong relationships that assist in making the project successful. This will ensure stakeholder buy-in and build the foundation for more successful projects. Monitoring stakeholder engagement is a reoccurring step, that will require you, as a project manager, to frequently check up on your stakeholders. Make sure that they are on board and following the project plan, and investigate if there are any challenges on the horizon and how you might remediate those challenges. <ref name="Forman"></ref>.