How to Conduct Stakeholder Management (Registration, Analysis, Execution) 【Excel template】
Deprecated: get_the_author_ID is deprecated since version 2.8.0! Use get_the_author_meta('ID') instead. in /home/twicneg9/public_html/econoshift.com/wp-includes/functions.php on line 5211
Deprecated: the_author_posts_link was called with an argument that is deprecated since version 2.1.0 with no alternative available. in /home/twicneg9/public_html/econoshift.com/wp-includes/functions.php on line 5505
The article is about Stakeholder Management. Its important processes are: Stakeholder Registration, Analysis, Engagement Assessment, Action Plan Composition and Execution, and Engagement Re-assessment at each project milestone.
DOWNLOAD ← Click this to download the “Stakeholder Management Tool” Template file.
＜＜ Related Videos ＞＞
- DMAIC: Define Phase – Define your project for success 【The U.S.’s PMP Situation】
- DMAIC: 4 Steps of the Improve Phase – 1 of 2 【Design a new business process】
What’s Stakeholder Management?
Hi, this is Mike Negami, Lean Sigma Black Belt.
I received another video topic request from a viewer.
“I was looking for your lecture on Stakeholder Analysis but appears not available from your website.”
I’m very grateful for requests. If you have any requests or questions, please write them in the comment section below. This request mentions a Stakeholder Analysis. It is actually one of the steps in Stakeholder Management, therefore, I’ll talk about Stakeholder Management first.
Since each project always has a purpose, there are people who affect the project’s success. We would like them to be very supportive by building a good relationship rather than neglect them and have them be against the project. That is the purpose of Stakeholder Management.
The fifth edition of the PMBOK, PMP’s famous textbook, has given considerable coverage on Stakeholder Management. I’ve made a Stakeholder Management tool template conforming to the PMBOK. Click the link below and try the tool.
- DOWNLOAD ← Click this to download the “Stakeholder Management Tool” Template file
How to use the Stakeholder Management Tool
This is the template. This file uses some macros, so enable them by clicking these buttons.
(Click the image below to enlarge the image.)
1) Stakeholder Registration
The first thing to do is a Stakeholder Registration. Have a meeting with your team. List up all the stakeholders on the whiteboard such as your project owner, your boss, vendors and/or team members who may cause problems, etc. Among those, select and type only the people who you have to monitor during the project, in the blue cells on the first table.
2) Stakeholder Analysis Chart
Next, do a Stakeholder Analysis in order to prioritize them. Consider the two indicators: the degrees of “Authority” and “Involvement”. Put a number from 1 to 10 for each index, then, that person’s name appears on the chart below. Put all the numbers for all the stakeholders like this.
The stakeholders whose names appear on the “Manage Closely” quadrant in the upper-right have highest priority. The 2nd priority is the “Keep Satisfied” quadrant in the upper-left. The 3rd one is the “Keep Informed” in the lower-right, which has low authority, but high involvement. The last one, “Only Monitoring”, follows in the lower-left.
3) Stakeholder Engagement Assessment
Next, conduct a Stakeholder Engagement Assessment. Record how much each stakeholder has been involved with your project at the beginning. There are 5 measurements such as “Unaware”, “Resistant”, “Neutral”, “Supportive” and “Leading”. Their explanations are following:
- Unaware: Unaware of project and potential impacts.
- Resistant: Aware of project and potential impacts and resistant to change.
- Neutral: Aware of project yet neither supportive nor resistant.
- Supportive: Aware of project and potential impacts and supportive to change.
- Leading: Aware of project and potential impacts and actively engaged in ensuring the project is a success.
Each measurement has 3 cells in the table.
When you click a green cell, a ‘B’ for ‘Beginning’ will appear. If clicking a white cell, a ‘C’ for ‘Check’ will appear, if clicking a pink cell, a ‘D’ for ‘Desired’ will appear. Since we’re recording the beginning engagements, use only green cells.
Next, consider each stakeholder’s desired engagement. Although it’s not good if all stakeholders are “Leading” level, it’s best if all of the stakeholders are “Supportive” or more. Or, at least more than “Neutral”. Record each desired engagement by clicking on the pink cells. These will become your targets.
4) Stakeholder Management Action Plan
Consider the previous results and make Action Plans for each stakeholder. Write their key interests, your action plans and communication requirements in each column in Section 4.
Since communication is especially important in projects, you should clarify how and how often you will communicate with each stakeholder in the ‘Communication Requirement’ column. For example, sending a weekly report by e-mail, or having a monthly progress meeting.
5) Re-assessment of Stakeholder Engagement
This is the final result for the beginning, but as your project makes progress, conduct the Stakeholder Engagement Assessment in Section 3 occasionally. Review and re-assess each stakeholder’s engagement level and record them by clicking one of the white cells. Then, compare the results with each desired engagement level, and update the action plans in Section 4, if needed.
That was how to conduct Stakeholder Management.
Thank you very much for viewing. Please click the ‘Subscribe’ button. Also click and watch my other related videos. Thanks.