Stakeholder management the focus is on engagement a key goal for the stakeholder management is how to attain effective engagement for all appropriate stakeholders. Project stakeholder management involves identification of stakeholders, analysis of their expectations and influences, development of appropriate strategies to work with the stakeholders and executing the process. Some examples of key stakeholders are creditors, debtors, directors, employees, government and its agencies, owners shareholders and its suppliers, unions and the community from which the organisation draws its resources. He has a bachelors degree in mathematics from imperial college, london, and is anassociate of the royal college of science, london. As part of the manage stakeholder expectations process, the project manager works with the stakeholders, understands and addresses their needs and expectations. This paper explains how project managers can use traditional risk management practices to assess the threats and opportunities in managing stakeholders. Notes on stakeholder management pmo perspectives blog.
Stakeholder management is a renewed area of focus for project managers. Although you can find the posts on the homepage as well, i am listing all of the topics again here with easy click through. This research has yielded some results that can improve the knowled ge of project stakeholder management. Stakeholder management plan project management institute. Print copy of our 396page course manual shipped directly to your. We focus on the latter here, because it is the most complex. On the other hand, a negative stakeholder see the outcome and may be. As you can also learn in the pmp certification training, all these project management knowledge areas include the processes which need to be performed in its own discipline this article will provide you a general mapping of which processes belong to which project management.
The project management institutes a guide to the project management body of knowledge. Pmi has published its syllabus for pmp exam in an ebook titled pmp examination content outline in a pdf form on. Pmbok 6th edition pdf is a sixth publication of pmbok guide by pmi. In large projects, defining a formal role for a project stakeholder manager is adequate. This is contained in or is a subsidiary of the project management plan.
Domain iii stakeholder engagement is the knowledge about engaging current and future interested parties by building a trusting environment that aligns their needs and expectations and balances their requests with an. From the data analysis it see ms that the project stakeholders play a major ro le in p. He nce, the importance of stakeholder management is not limited on day to day business. Make sure that there is no operational disruption during migration. The study notes explain topics that are important for pmp exam preparation, and. Large projects may have hundreds or even thousands of stakeholders. Many of us make the mistake of thinking that pmbok is the only pmp study material that required for pmp exam. What you should know about stakeholder management plans. Perform a stakeholder analysis for the pmp certification.
Stakeholder management is a task for many roles in a project. Project stakeholder management project management in. For the pmp certification, its important that you understand which stakeholders are influential, which are concerned, and which can help or harm your project and are necessary to help you develop strategies to maximize the influence of project supporters while minimizing the influence of resistors. As it stands, all of the 47 processes have been summarized. Not all stakeholders have the same degree of influence on. These are all those developments that affect at least particular stakeholders. Stakeholder management rita pmp notes flashcards quizlet. Lecture notes project management principles course notes.
These stakeholders help the project management team to complete the project successfully. Weve put together the ultimate pmp study notes pdf to help you with the transition. It is important in any project to identify all stakeholders. It is interesting to note that resolved issues is an output of the manage. Analysis of three themes emanating from this literature leads to the development of. If we know the things that our stakeholders value, we have a much clearer sense of whats at risk. Quizlet flashcards, activities and games help you improve your grades. The project manager is responsible for all of the following during stakeholder management except. Theory and practice fran ackermann and colin eden this article explores how top management teams can increase the robustness of their strategies by attending to important concepts emerging from the stakeholder literature. Stakeholder management is critical to the success of every project.
Communications management plan communications management plan can be formal or informal, highly detailed or broadly framed based on project needs. He is certified as a project management professional pmp by the project management institute pmi and is a member of the pmi france chapter. Hope the notes will help you preparing for your pmp certification exam. Pmp certification allinone for dummies, 2nd edition. Project stakeholder management according to the pmbok. Pmp exam study notes pmp summary notes pmp important.
As the name implies, this site is a free source of project management information. Expert judgment, meetings, and stakeholder analysis. It is useful to provide the studentstrainees with a reader and introduce the context before the role play. A look at drawing information out of the right stakeholders in the risk process by carl pritchard, pmp, evp stakeholder management is a critical component of risk management. Stakeholders in project management pm study circle. Here are some of the models you need to know for your pmp exam. For further information on project stakeholder management, consult edwels pmp textbook 5th edition. Pmp chap project stakeholder management details slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Stakeholder analysis is a technique used to identify the stakeholders, and their interest, experience and influence on the project.
Pmp certification study notes project stakeholder management by edward chung, pmp, pmiacp, itil foundation march 26, 2018 updated for the new pmp exam thru 2020. For example, you can develop a strategy based on the grid cell that you placed your stakeholders when analyzing their engagement. Planning effective stakeholder management strategies to do the. Stakeholder management overview project management. Expectation alignment is important to ensure a successful management for stakeholders approach. Stakeholder management plan defines the processes, procedures, tools and techniques to effectively engage stakeholders in project decisions and execution based on the analysis of their needs, interests, and potential impact. Pmp stakeholder management pmp training videos pmp. Project stakeholder management martina huemann, wuvienna university of economics and business, project management group, austria pernille eskerod, webster university vienna, department of business and management, austria claudia ringhofer, wuvienna university of economics and business, project management group.
Pmp exam study notesread these notes to understand tough concepts on this page i am providing you with a list of all blog posts published on this and my other blog. Here is what you receive with our full pmp exam prep class. Stakeholder management strategy defines the approach to increase the. Pmp certification study notes project stakeholder. I originally created the notes for my pmp certification preparation which helped me to pass the pmp exam with 4 proficient and 1 moderately proficient. Note that stakeholders in the high influencehigh importance quadrant would be considered. One of the primary benefits of the pmbok guide is to create a common language for the project management. Additionally, a few processes have been added and a few processes will get their names changed. The following explanation is sourced from deep fried brain project.
Stakeholders are individuals who get impacted by the project. This paper focuses on how to set and manage expectations same of the. Lessons in project management basics pm exam smartnotes. It identifies and analyzes two items for each stakeholder. My signature indicates approval of this stakeholder management plan. Therefore, this paper fills a void in the literature by using stakeholder theory and the strategic management process as the theoretical lenses through which to analyze the case study of the dod lighter. On the contrary, it is primarily concerned with long term strategic decisions. Stakeholders are not experts capable of contributing to the overall effort but also individuals driven by their own interests and desires, professionals with the ability to influence a projects outcome. Stakeholder analysis involves gathering information to analyze your stakeholders. Pmp certification study notes project stakeholder management. A guide to the project management body of knowledge pmbok guide 6th. Preface thank you very much for downloading the pmp study notes based on pmbok guide 5th edition by edward chung, pmp. Stakeholder engagement in these situations is often limited to random hallway.
Note that, project management processes are documented and controlled by the help of project management templates. Busy might not have much time for general training. Managing stakeholder satisfaction as a key deliverable. Difference between project management plan and project documents. A stakeholder management plan can be very highlevel. Stakeholders can affect or be affected by the organisations actions, objectives and policies. The major change is that the pmbok will include agile in all the knowledge areas. Project stakeholder management includes the processes required to identify the people, groups, or organizations that could impact or be impacted by the project, to analyze stakeholder. Pmp and capm exam study resources to ace your exam. Note that this plan contains potentially sensitive information, so distribution. Those study notes were written by me based on my experience passing the pmp exam from the first trial, i wrote them based on pmbok guide 6 th edition and pmp exam prep 9 th edition for rita maclhys, while i was preparing for the pmp exam, highlighting ittos of the 49 processes, important tips on each process, terms and concepts you need to be aware of for the exam, on the left side. Learn how to control stakeholder management effectively and know the roles and responsibilities of a stakeholder. Identify stakeholders is a continually process throughout the project lifecycle. Whether you are interested in becoming a certified project management professional pmp or just enhancing your project management knowledge in.
According to the pmbok 6 guide, the project management knowledge areas help to achieve an efficient project management. A positive stakeholder sees the projects positive side and benefits from its success. Top three skills and competencies of a pmo director. Stakeholder management was introduced as a separate knowledge area in pmbok 5th. The stakeholder management plan, a component of the overall project management plan, is created to specify how the project will interact with each stakeholder.