week-13-2PROJECT STAKEHOLDER MAN MANAGMENT

PROJECT STAKEHOLDER

1. Project Stakeholder Management: Managing & Controlling Stakeholders Instructor: Ms. Ameena Saeed Subject: IT Project Management Course Code: ITC-311

2. Maintaining Balance Among Stakeholders Balancing Stakeholder Interests : Stakeholders often have diverse and sometimes conflicting interests, such as financial goals, project scope, timeline expectations, or resource allocation. Managing these conflicting interests requires careful navigation to ensure that no single stakeholder's needs should compromised in the overall success of the project . Examples: Budget Constraints vs. Scope Expectations: Financial stakeholders may emphasize cost control, while project teams may push for expanded project scope. Balancing the budget without compromising project quality is a challenge.

3. Strategies: Stakeholder Analysis: Conduct a thorough stakeholder analysis to understand each stakeholder's needs, expectations, and potential points of conflict. Negotiation and Compromise: Facilitate open communication and negotiation sessions to find common ground and compromises that meet the majority of stakeholders' needs.

4. Prioritization Techniques : Prioritization involves identifying and focusing on key stakeholders who have the most significant impact on the project. Utilizing prioritization techniques helps allocate resources and attention effectively. Prioritization Techniques: Power/Interest Grid: Classifies stakeholders based on their power and level of interest in the project. High-power, high-interest stakeholders require the most attention. Influence/Impact Grid: Prioritizes stakeholders based on their ability to influence the project and the impact they can have on its success.

5. Benefits Resource Optimization: Ensures that project managers focus on stakeholders who can significantly affect the project's outcome. Effective Engagement: Tailoring communication and engagement strategies leads to more meaningful interactions with key stakeholders.

6. Effective Communication Strategies Communication is a cornerstone of stakeholder management. It involves conveying information, managing expectations, and building positive relationships. Various Communication Channels: Meetings: Face-to-face interactions are valuable for building bond and addressing complex issues. Reports: Detailed reports are effective for providing comprehensive project updates and documentation. Emails: Quick updates, announcements, and formal communication can be efficiently conveyed through email.

7. Integrating Stakeholder Management with Project Plan Aligning Stakeholder Goals with Project Objectives Alignment between stakeholder goals and project objectives is crucial for project success. When stakeholders and the project team share common goals, it enhances collaboration and ensures that everyone is working towards the same outcomes . Methods for Ensuring Alignment: Regular Updates: Provide stakeholders with regular updates on project progress, changes, and milestones. This keeps them informed and helps maintain alignment with project goals. Goal-Setting Sessions: Conduct sessions to collaboratively set goals and expectations. This involves stakeholders in the goal-setting process, fostering a sense of ownership and commitment. Feedback Mechanisms: Establish feedback mechanisms to gather input from stakeholders. This ensures that their goals and expectations are considered and addressed throughout the project lifecycle.

8. Cont … 2. Monitoring and Adapting : Stakeholder dynamics can change throughout the project. Continuous monitoring involves staying attuned to these changes and proactively addressing any shifts in expectations, concerns, or requirements . Indicators of Changing Stakeholder Expectations: Feedback Trends: Analyze patterns in stakeholder feedback. Consistent shifts in sentiment may indicate changing expectations. Scope Creep Requests: Frequent or unexpected scope change requests may signal evolving stakeholder needs. Communication Breakdowns: If communication breakdowns become more frequent, it may indicate misunderstandings or unmet expectations.

9. Practice task Case Study: Successful Stakeholder Management in an IT Project Scenrio : A large multinational corporation initiated a complex IT project aimed at implementing a new enterprise resource planning (ERP) system. The project involved various stakeholders, including internal departments, external consultants, end-users, and executive leadership. You have to identify the following: Challenges Strategies Employed Positive Outcomes

10. Cont … Challenges: Resistance to Change: Many employees were resistant to adopting new technologies and processes, fearing disruptions to their daily routines. Diverse User Needs: Different departments had varied requirements, and aligning these needs with the overall project objectives was a challenge. Budgetary Constraints: The organization had strict budget constraints, necessitating careful cost management throughout the project Strategies Employed: Stakeholder Analysis: Communication and Training : User Engagement Workshops : Positive Outcomes: