Project Management Fundamentals - Stake Holder Management

4.4 (1369)
Learning paid
1 hour coourse
Course by Udemy
$ 189.99
$ 189.99
What will you learn?
Stakeholder Life Cycle Management
How to Make Success Factors
How To Make Stake Holder Management Models
How To Kiss Serious Butty
Stakeholder Identification Strategy
Stakeholder Analysis
Stakeholders Power And Interest
How To Keep Your Friends Close and Your Enemies Closer
Stakeholder Prominence
Stakeholders Management
Management Skills
Interpersonal Skills
Stakeholder Engagement Strategies
Key Performance Indicators
About the course

Do you want to Create healthy partnerships with your stakeholders and build a win-win environment for your business then this course is right for you. In this course, author and PMP Luke Angel shows you how to manage stakeholders with savvy communication strategies that increase engagement in the final project. Learn how to analyze stakeholders, map power structures, keep open lines of communication, and use interpersonal skills to connect.

  • Stakeholder Life Cycle Management
  • How to Make Success Factors
  • How To Make Stake Holder Management Models
  • How to kiss serious Stakeholder But
  • Identification Strategy
  • Stakeholder Analysis
  • Stakeholders Power And Interest
  • How To Keep Your Friends Close and Your Enemies Closer
  • Stakeholder Prominence
  • Stakeholders Management
  • Management Skills
  • Interpersonal Skills
  • Stakeholder Engagement Strategies
  • Key Performance Indicators
Hi, I'm Luke Angel and this is Managing Project Stakeholders. This course covers how to effective identify, engage, and manage your project stakeholders. We'll begin by exploring the big picture and looking at the business need for stakeholder management. Then I'll review success factors in project management and how stakeholder management fits in. Next, I'll guide you through a review of strategies to identify stakeholders and create a stakeholder map.
Exercise Files
I've included some background information for our Kinetico Alternative Energy Company to provide some framework for the showcased wind energy project we'll use in this program, along with examples and templates to show you what's possible for your projects. I think it will help provide some real world connections by pairing our course content with a case study to show how to apply the concepts we explore.
Introduction To The Test Project
I've included a case study project with this course to provide illustrations on use of concepts and templates we discuss during the program. The sample fictitious project we will use throughout this course is the development of a large wind turbine farm on a site located east of Fort Collins, Colorado, in the United States of America. The electricity produced, as a result of this wind energy project, will be sold to the local electricity utility companies to provide electrical power to both residential and commercial customers.
Understanding Stakeholder Definitions
The term stakeholder means: "An organization, group, or individual "who could impact or be impacted by your project." They literally "have a stake in" or are affected by an activity, decision, or outcome of your project work. It's often easy to spot key stakeholders, those who have money, resources, or power on the project. Yet a good project team will be certain to identify all stakeholders for ultimate project success.
Stakeholder Life Cycle
Throughout the project, you'll interact with stakeholders in various and different ways depending on the stage of your project. Stakeholders and their roles must be identified early in the project, as the stakeholders needs and wants are critical elements in the determination of your project requirements and deliverables. While creating the project charter, the key stakeholders at the highest levels, are typically identified to review the charter and sign off on the project. Once the project is approved and proceeded to the project team, a deeper dive is done to identify all stakeholders.
Success Factors
The Standish Group has been notoriously publishing their CHAOS Report with IT project success, failure, and challenged rates for many years. While their report happens to focus on IT projects, the study can provide insight on all types of projects. Their report will list those things that, if present, will lead to success and, if absent or challenged, could lead to project failure. The most recent research report showed the top 10 as Executive support, User involvement, Clear business objectives, Emotional maturity, Optimizing scope, Agile process, Project management expertise, Skilled resources Execution, Tools & Infrastructure.
Stake Holder Management Models
We can find guidance on stakeholder management from a number of different sources and professional organizations. From a project management perspective, we can look to project management body of knowledge, or PMBOK, published by the project management institute in the United States, to projects in controlled environments, also known as PRINCE2, created by the cabinet office in the United Kingdom, along with a commercial entity for European professional standards. Or Agile groups and organizations with their many forms from extreme programming to scrum.
Stakeholder Identification
When a project like our wind energy initiatives under consideration, mature organizations will write a business case and draft a project charter first. Then, present the idea to an oversight committee or governance board to review the cost of the project, compared to the benefits the project generates. If the project is select, the governing committee or board will then sign the charter. The charter includes our senior stakeholders and decision makers.
Stakeholders Power And Interest
You've gathered the stakeholder's identifying information, their positions, locations, role, and contact details in the analysis worksheet or stakeholder register. Next, assessment information about the stakeholder's requirements and expectations are elicited along with potential influencers and phases of the project in which each stakeholder has the most interest. You've made note of the stakeholder's commitment to the project, and their relationship to others involved with the project.You also classified the stakeholders as internal or external, and supporter or advocate, a bystander or a potential resistor. Your next step is to create a power and interest grid to plot the individual information gathered into a diagram that represents the entire stakeholder group. On the vertical axis, you capture the power as Low, Medium, or High, and on the horizontal axis, track their interest in the project as Low, Medium or High.
Stakeholder Prominence
You've seen in our wind energy project that there are many stakeholders. Each project stakeholder has varying expectations. Stakeholder prioritization can be challenging on large projects. You have documented your stakeholder analysis in the stakeholder register and examined the Power Interest grid. Let's see how the Salience Model helps put project stakeholders into perspective. Unlike the Power Interest, or Power Influence grids, the Salience Model uses three parameters to categorize stakeholders: Power, Legitimacy, and Urgency.
Stakeholder Engagement Strategies
The purpose of designing a stakeholder engagement strategy is to find the required level of stakeholder involvement, and the associated scope of activities each stakeholder will ideally support. This step also helps set expectations about when and how stakeholder groups will be engaged throughout your project's life cycle. Proper planning and communication will allow you to proactively manage activities to sustain your stakeholders' level of engagement, build buy-in and commitment, and address any potential roadblocks.
  • A general understanding of Agile would be good but not required
  • A want to finish projects quicker
Luke Angel
Luke Angel
Sr. Technical Cross Platform Program Manager
Udemy courses are suited to professional development. The platform is organized in such a way that it is experts themselves that decide the topic and when the course will start. All supporting documents are made available to you for lifetime access. On this platform, you can find a course on about any subject, and that is no exaggeration – from a tutorial on how to ride a motorcycle, to managing the financial markets. The language and the course format are established by the teacher. This is why it is important to read the information about the course carefully before parting with any money.
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