Stakeholder Management Approach and Strategies for Project Success

This document discusses the stakeholder management approach and strategies for project success. It covers stakeholder identification, stakeholder register, power/interest grid, stakeholder management strategies, and control stakeholder engagement. The document also includes attachments for further reference.

TABLE OF CONTENTS
Revisions and Distribution......................................................................................................................
Amendments......................................................................................................................................
Project Sponsor Approval.......................................................................................................................
Stakeholder Management Approach...................................................................................................3
Stakeholder Identification....................................................................................................................3
Stakeholder Register........................................................................................................................3
Power/Interest Grid.........................................................................................................................3
Stakeholder Management Strategies...................................................................................................3
Manage closely.................................................................................................................................3
Keep satisfied...................................................................................................................................3
Keep informed..................................................................................................................................3
Monitor.............................................................................................................................................3
Control Stakeholder Engagement........................................................................................................3
Attachments:........................................................................................................................................3

STAKEHOLDER MANAGEMENT APPROACH
Proper processes are required to identify people, groups or organizations that could impact or be
impacted by the project, to analyse stakeholder expectations and their impact on the project, and
to develop appropriate management strategies for effectively engaging stakeholders in project
decisions and execution.
 Identifying who are the project stakeholders
 Defining what is the current level of support & what are the influence on the project
 Determining what is the desired level of support & influence
 Defining what is the influencing tactics
 Creating action and communications plans for the project
All these approaches are necessary for the project for managing the stakeholders properly and
ensuring success in the project. Hence these approaches need to be properly identified and
integrated in the project as well for effectively executing the project.

STAKEHOLDER IDENTIFICATION
Describe the process how stakeholders will be identified and classified.

Stakeholder Register
Full name Position Role in the project Contact
information
Requirements Expectations Influence
level
Power
level
Brown, Kelvin CreateWealth,
Manager
Managing project
progress and project
team, review
company policy,
external rules and
regulation of
[phone]
Brown124@gmail.
com
1. implement project
according to the policy
2. Manage the steering
committee and their work
according to the project
scope and objectives.
High project involvement High high
Kyle, Elizabeth CreateWealth,
Secretary
Marketing,
promotion and
communication
[phone]
Kyle
[e-mail]
1. To create proper brand
image in the market and
connect people with
company and the project as
well.
2. keep the board of
Createwealth updated
about the project progress
High project involvement High Moderate
Kompany, Gideon CreateWealth,
Member
Technical/advisory
aspects
[phone]
Kompany
[e-mail]
1. Provide advice to the
committee for constructing
the pond for
accommodating the fish
properly.
2. Provide all kind of
technical advice related to
the fish farming process.
Moderate project involvement Medium Moderate

Full name Position Role in the project Contact
information
Requirements Expectations Influence
level
Power
level
Arey, Catherine CreateWealth,
Member
Budget and
resource allocation
[phone]
Arey
[e-mail]
Need to ensure that all the
projects activities has been
allocated the required resources
as per the working budget.
High project involvement High High
Aguero, Emmanuel CreateWealth,
Member
Monitoring and
Evaluation
[phone]
Aguero
[e-mail]
To monitor if the project
activities are being completed
as per the defined schedule.
High project involvement Moderate High
VictoryAlive Project funding [phone]
VictoryAlive
[e-mail]
m
to supervise the land mining Moderate project involvement Moderate Moderate
CreateWealth Project funding [phone]
CreateWealth
[e-mail]
m
Project planning, water control,
and pond management
High project involvement Moderate Moderate

Power/Interest Grid
Power
High
Keep satisfied Manage
closely
Low
Monitor Keep informed
Low high
Influence

STAKEHOLDER MANAGEMENT STRATEGIES
Following strategies are developed to effectively engage the stakeholders throughout the
project life cycle, based on their needs, interests, and potential impact on project success.
Manage closely
 regular status checking
 input solicitation
 collecting feedback through one-on-one conversations
Keep satisfied
 providing regular updates
 allowing to provide feedback to the project
Keep informed
 explaining change in the project at the right time
Monitor
 close monitoring of the stakeholders
 considering concerns raised by these stakeholders for properly managing them in the
project

CONTROL STAKEHOLDER ENGAGEMENT
The process through which the project will monitor and possibly adjust the stakeholder
involvement is the following:
 Accurate and effective identification of the stakeholders and correct categorization of
the stakeholder as per the requirements, interest on the project and the influence on
the project.
 Creating issues log and updating it regularly. It will be considered for identifying the
issues and their impact on the project across various aspects such as scope impact,
schedule impact and cost impact on the fish farming project by the CreateWealth
organization.
 Arrange for productive meetings for sharing communication and engaging stakeholders
properly for effective control on stakeholder engagement.
 Manage conflict with the stakeholders through detailed assessment of the issues and
the requirements.
 Communication of projects documents with the stakeholders without delay.

ATTACHMENTS:
Attachment 1
Attachment 2