Analysing Stakeholder Management Strategies For Projects

Adeniyi SalauApril 18, 2023

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Understanding Stakeholder Management Strategies For Projects

What Is Covered

In my previous articles, I have looked at all that you need to know about stakeholder management and identification for projects. In this article, I want to look at all that you need to know about stakeholder management strategies for projects. Follow me as we will look at that together in this article.

Stakeholder management strategies are management strategies that are created to ensure maximum support and minimise the negative impacts of stakeholders throughout the project life cycle.

The stakeholder management strategy is created by the project manager with identifying stakeholders. The strategy information is ideally represented in a stakeholder analysis matrix.

Typical example…

A typical stakeholder management strategy document could include:

Stakeholders identification: A list of the identified stakeholders along with their identification-related information.
The stakeholder map: a chart showing the interest of different stakeholders and the level of participation required from each identified stakeholder.
The stakeholder analysis influence and importance matrix. A matrix that describes the stakeholders based on their influence and importance to the project.
The stakeholder list- a list of various stakeholder groups involved in the project and their management.
Stakeholder communication: a description of how the project will engage various stakeholders, the communication routes, and the frequency of communication for each stakeholder, or group of stakeholders.
Communication efficiency: specifies how the efficiency of the communication process will be measured.

Stakeholder analysis…

The stakeholder analysis matrix is a document that lists the project stakeholders and describes the ways in which they influence the project. The stakeholder analysis matrix is a shared document, and therefore it is imperative that the project manager exercises proper judgment and due caution with regard to the kind of information and details that need to be included in it.

Now Procurement documents …

Procurement documents are the documents that are submitted to prospective sellers and service providers to solicit their proposals for the work needed.

Different types of procurement documents are available. This type of document used will depend on the project and the product or service being procured.

Typical example…

A Request for Proposal is a specific type of procurement document. A company seeking a new advertising agency for a marketing campaign will send out RFPs to several agencies.

An RFP describes the company’s marketing needs and requests for proposals that describe the agency’s qualifications and past campaigns, the key employees’ work history, and their approach to creating a campaign.

Action Point
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I know you might agree with some of the points that I have raised in this article. You might disagree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you can drop your comment. Thanks in anticipation.

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