Plan Stakeholder Management

00:01 Hello and welcome.

00:03 This module will focus on the plan stakeholder management process in the Pim Bot guide. The difficulty is rated as medium.

00:12 It's a Planning process, but an important Planning process.

00:16 There's no new concepts here, so the memorization is rated as low and because it is a Planning process, the exam importance is ranked as medium as well.

00:29 The planned stakeholder management process is one of four processes in total and the stakeholder management knowledge area.

00:37 The particular domain task that plan stakeholder management process helps us understand better is Planning task 13.

00:46 And this is develop the stakeholder management plan by analyzing needs, interests and potential impact in order to effectively manage stakeholders expectations and engage them in project decisions.

01:03 And that's what our plan is going to guide us to do to effectively manage stakeholders expectations.

01:11 But we need to first identify them, and we've done that already with identify stakeholders. And once we've done that, engage them and project decisions.

01:20 Remember, our key focus of stakeholder engagement activities is to get stakeholders to support our project or at least not oppose it.

01:31 The key theme of this process is that it's the process where you develop the stakeholder management plan and the stakeholder management plan will go on to provide guidance for all the rest of your stakeholder management activities.

01:46 So like any other plan, it becomes part of the project management plan.

01:51 It's a subsidiary plan and it guides the rest of our activities.

01:55 And as we know, good project management starts with good and appropriate planning. And this is the plan we do to manage stakeholder expectations and engagement on our project.

02:10 The particular inputs that we may find useful in the development of our stakeholder management plan include the Project Management Plan and all of its subsidiary plans, documents and baselines because contained within all those other plans, documents and baselines will be information about our stakeholders. And we'll be able to get information that helps us develop an effective stakeholder management plan.

02:36 We'll have an indication of the extent of stakeholders on our project, what their key interests are, what some of the hurdles were faced already, perhaps with our cost management and schedule management activities and what interests stakeholders took and different elements of the project.

02:54 We'll also want our stakeholder register, which is an output from the Identify Stakeholders process, the stakeholder register gives us ongoing and iterative information about our stakeholders.

03:07 So we'd want that in order to figure out a management plan for them.

03:12 We may also look to appropriate enterprise environmental factors and our own organizational process assets, such as a blank stakeholder management plan in our project management methodology.

03:28 The particular tools and techniques that we may choose to use, if appropriate, include expert judgment.

03:35 Now in the development of any of our plans, we see that expert judgment is the primary tool used. This is because you are an expert project manager and you've done projects before and you've gained expertise in the development of management plans and in this instance, the stakeholder management plan.

03:56 You're also probably going to turn to your project sponsor and your project team members, particularly those with experience in the past and similar projects, you will run meetings either directly focused on the development of the stakeholder management plan or as part of general update meetings. You'll include elements of stakeholder management until the plan is developed and signed off.

04:20 You'll also undertake some analytical techniques.

04:24 These will be analyzing your project and perhaps your wider organization's approach to stakeholder management and the importance of places on proactive stakeholder management.

04:35 This may be linked closely to your level of risk tolerance or risk aversion.

04:41 Organizations with a high risk tolerance may decide to not pay that much attention to stakeholder influencing, choosing instead to deal with the consequences if they arrive.

04:53 An organization with a high level of risk aversion, on the other hand, may place a lot of emphasis on successful stakeholder identification and management as well. So carry out some analysis of what your appetite is for stakeholder management on your project.

05:11 After we've taken those inputs and applied the right tools and techniques to them, we will produce our stakeholder management plan.

05:20 Now keep in mind, just like any of the other management plans that we've developed, they can be summary or detailed and this will reflect the level of complexity and the duration of our projects.

05:32 It's all about appropriate planning, but our particular stakeholder management plan, whether it's summary or detailed, will provide guidance on how we go about managing stakeholder expectations.

05:44 It will also provide guidance on how we monitor and control our stakeholder management work as well.

05:51 We may also choose to update relevant project documents.

05:56 These may feed back into other elements of our project management plan, but also our lessons learned documentation as well.

06:06 So in summary, the planned stakeholder management process has been about the production of an appropriate stakeholder management plan, which we will then use to guide all of our stakeholder work, and this includes ongoing identification beyond the initiation of the stakeholder register. And also the influencing of stakeholders to support our project or at least not oppose it, and also the monitoring and controlling of our stakeholder management activities.

06:39 So thank you very much.

06:40 This has been an overview and an introduction to the plan stakeholder management process in the PMBOK guide.