Unboxing PMBOK, PMP – Post#8 Understanding the stakeholders of the project

Anybody who is affected positively or negatively, by doing a project or by not doing a project, or by delaying a project is a stakeholder of the project. The common stakeholders of the project are;

  • Sponsor / Sponsors ā€“ Those who are funding the project
  • Project managers
  • Consultants
  • Engineering heads
  • Team members
  • Customer
  • Suppliers
  • Trade unions
  • Government agencies
  • Auditors etc.

During the project initiation, we identify the key stakeholders and prepare a Stakeholders register which is maintained throughout the project.

Classification of Stakeholders

High power / high interest stakeholders

They have very high degree of power and they have lot of interest in the project. Since they are extremely powerful, and have lot of interest in the project they can be the real supporters of the project, if their expectations are met or exceeded throughout the project. Sponsors of the project is a good example for this category of stakeholders.

High power / low interest stakeholders

They have lot of power and at the same time may not have lot of interest in your project. Still their expectations must be met or exceeded. CEO of your organization can be a good example for this category. She is very powerful, and at the same time do not have lot of interest in your project as it is just one of the many projects running in the organization.

Low power / high interest group

They are low power and at the same time have lot of interest in the project. End users of the software application you are building is a good example. They are the opinion leaders, hence their expectations also must be met or exceeded.

Low power / Low interest group

They neither have much interest in the project nor have any power to influence the project outcomes. Just ignore them.

External stakeholders

They are external to the project organization. Competitors, suppliers, Government agencies etc are good examples.

Internal stakeholders

They are internal to the project organization. Project manager, team, engineering managers etc are good examples for internal stakeholders.

Direct and Indirect stakeholders

When I was preparing for my PMP certification, I was a direct stakeholder and my wife and daughter were indirect stakeholders. šŸ™‚

Unboxing PMBOK/PMP master list

The Wrench SmartProject team supports me to write these blog posts to evangelize professional project management. Their flagship product Wrench SmartProject helps organizations to monitor and control projects real time. Click on the Wrench SmartProject logo below to know more about SmartProject.

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