PROJECT MANAGEMENT 2 Running Head: PROJECT MANAGEMENT 1 Project Management Name Institutional
PROJECT MANAGEMENT 2
Running Head: PROJECT MANAGEMENT 1
Stakeholder management is the systematic identification, planning, analysis and identification of actions which are designed to engage with the stakeholders. Stakeholders are the groups or the individuals who have an interest in a program, project, or portfolio due to their involvement in the work or because they are affected by the outcomes. Most projects have a variety of stakeholders who have competing or at times, different interests. Such individuals or groups may have significant influence over the failure or success of the task.
Stakeholder management involves a set of techniques which harnesses the positive influences while minimizing the effects which are associated with negative influences. It comprises 4 main steps and which include;
Identifying the stakeholders,
Assessing their interests and influences,
Developing communication management plans, and
Engaging with and influencing the stakeholders.
The management of projects “stakeholders” suggests that the projects will explicitly be explained in terms of institutions and the individuals who are sharing stake or interest in the venture. Thus, the team members of the project, suppliers, sub-contractors and clients are consistently relevant. The effect of the project decisions is identified in any of the rational approaches to the project management. The management should also put into consideration those who have an attention in the project and who are the stakeholders. Stakeholders are not bound by the power of the project manager, thus they always present the serious problems over the management (Soh, Chua & Singh, 2011).
While the project stakeholder management may presume that success is dependent on taking into consideration the potential impacts of the decisions of the project on every stakeholder during the span of the project, the management may face major challenges. When assessing and identifying the effects of project decision on a stakeholder who is subjected to the management authority, the management must put in to consideration how the attainment of the project objectives and goals will be affected or even affect the stakeholders outside their authority.
Stakeholder management is an essential part of organization’s strategic management. The economic, political, legal, social, competitive and technological systems affect the enterprise abilities to grow and survive in its environment. The project managers are required to recognize and intermingle with major institutions and individuals in the task “systems” environments.
Prof SOH Wai Lin, Christina’s article
According to Prof SOH Wai Lin, Christina’s article on stakeholder management, a substantial research examines the control of Information Systems (IS) projects, which, multiple of studies in the area only examined how one controller can manage la single group of controlees. However, most of the IS projects especially projects of enterprise systems (which often are initiated by the organizational corporate headquarters, and which involve the business unit consultants and users) have many stakeholders. The corporate headquarters (which is the task principal controller) simultaneously must ensure that the multiple stakeholders are aligned with the goals and project objectives despite their wide motivations, and that the stakeholders collaborate with one another towards the achievement of the accomplishment of the project.
Vinay Singh, article
In Vinay Singh article, when managing a project, it is vital to classify all the stakeholders correctly (both external, internal and any other who is affected indirectly) so that the project scope can be defined correctly and its benefits realized to the full. For any successful stakeholder management is sis always necessary to make sure that the plan is clearly defined and the stakeholder identification guidelines, stakeholder engagement and stakeholder analysis. Equally, it is important to come up with a communication plan or scheme for realization of a positive response and the project result.
Role of Communications
Project managers and executives around the globe have agreed that poor communication may contribute to the failure of a project. Communication is always essential when realizing the success of a strategic initiative and also it is an active component and integral part for strategic plan and execution process. 55 percent of project managers agree that an effective communication in regard to each and every stakeholder can be the most critical success factor in managing a project.
The finding that support from the principal controller allows controlee-initiated controls to effectively work across multiple groups and it is likely to hold true in every multi-stakeholder IS projects. This may be due to the controllers or controlees from particular stakeholder groups to have minimal influence over the other peer group’s members, so that the principal controller support is required for effective controls enactment which is initiated by the controlees.
Jan Terje Karlsen’s Article
According to Jan Terje Karlsen, currently almost each and every project takes place in a context where stakeholders carry out the main part in the accomplishment of a project. Often the project is sensitive to decisions and actions which the stakeholders tae. The stakeholders of a project may include; the end users, clients, contractors, labor unions, consultants public authorities, line organization, insurance companies, financial institutions, media, controlling organizations, competitors, and third parties.
First, research indicates that the end users and clients are the most significant stakeholders in a project. Secondly, the collected data shows that end users, clients, suppliers, contractors, line organization together with the open establishment are equal when it comes to causing uncertainty and problems for a project. Third, fin doings have indicated that more efforts should be applied in providing new insights in project stakeholder management.
Furthermore, Karlsen article describes a systematic and a formal project stakeholder management process. The process involves six steps which are;
In this article, the results can be used by the project manager in many different ways. First of all, arguing that much concentration should be given to the stakeholders. Secondly, in the stakeholder management, the project managers may choose to follow the presented process. Thirdly, the results of the survey can provide the project manager with an idea of which stakeholders they should put their focus into in trying to understand them better.
As seen in the Karlsen article, the project managers should be more externally oriented and stakeholders given more attention. Through performing the survey, the results provides the project manager with an idea on the stakeholders which he or she is supposed to focus on. Through the performance of the stakeholder management process, it will prepare the project team for the possible adverse actions by the stakeholders (Karlsen, 2002).
Soh, C., Chua, C. E. H., & Singh, H. (2011). Managing diverse stakeholders in enterprise systems projects: A control portfolio approach. Journal of Information Technology, 26(1), 16-31. doi:http://dx.doi.org/10.1057/jit.2010.13
Karlsen, J. T. (2002). Project stakeholder management. Engineering Management Journal, 14(4), 19-24. Retrieved from http://ezproxy.csp.edu/login?url=http://search.pro…