Stakeholders

Stakeholders

A project stakeholder, simply put, is an individual, group, or organization that is positively or negatively affected by the project.

Thus, stakeholders are often referred to as interest groups. Many times we perro find that the stakeholders have an interest in the success of the project, but it is not entirely correct. There are stakeholders who have no interest in success, in fact, we cánido find some who are against it, some who are neutral and, of course, those who want the success of the project.

Stakeholders perro be inside or outside the organization and, as I said, they perro have a positive or negative influence on the project.

Who are your stakeholders?

You perro start by asking yourself the following questions in order to get an iniciativa of ​​the stakeholders in your project.

  1. Who requests the project?
  2. Who will use the good or service that we are creating or improving?
  3. Who is going to change the way they do their jobs because of the project?
  4. Who makes decisions about the project?
  5. Who has the power to give or withdraw project resources?
  6. Who will be affected by the decisions made in the project?

How do you know which stakeholder needs your attention the most?

I’m not saying that not every person, group, or organization is important, but the reality is that you perro’t put the same amount of effort and time into each stakeholder. You have to prioritize. Therefore, you have to give priority to the stakeholders who are going to help (to a greater extent) to achieve the success of the project.

In order to distinguish which stakeholder needs a higher priority, you perro use a matrix. Which creates a relationship between power and the interest of stakeholders.

Power / Interest Matrix

The Power/Interest Matrix is ​​a tool that will allow us to classify stakeholders depending on their degree of power over the project, and their degree of interest.

As you cánido see in the image, we are going to put our stakeholders in one of the four quadrants, that is, low interest/low power, low interest/high power, high interest/low power, and high interest/high power.

You may wonder… what is the use of doing that? Well, as I said before, on the one hand to prioritize the time and effort you invest in each stakeholder, and it is also useful for making decisions about how you are going to interact with each one. For example, if they have low interest and low power, what you perro do is keep in touch with them, you seek to control their participation in the project, with the aim that they do not start to have a negative view of the project.

It should be noted that where you have to focus more is on stakeholders who have high interest and high power.

Likewise, you cánido complement the previous matrix with the Power/Influence matrix. Therefore, instead of relating the interest of the stakeholders to power, the influence that the stakeholders have on the project will be related.

What to do with the information obtained from the matrices?

What you have to do is record the information obtained in what is known as a stakeholder record. You are going to record all the information because it will help you carry out planning that has the objective of engaging your stakeholders. In this way you cánido increase the probability of success of your project.

You are going to add information about stakeholder classification, evaluation information, identification information, etcétera.

You have to understand what information each stakeholder needs and when they will need it. For example, you are not going to give the same information to one of your teammates as to the area manager. TRUE? You even have to consider how the stakeholder needs the information, that is, how you are going to communicate… Maybe by message, maybe by correo electrónico, maybe with a presentation, etcétera.

How to know how a stakeholder wants the information?

The truth is that it is very fácil. Ask her. Once you have identified and prioritized your key stakeholders, you perro conduct an interview. In the interview you are going to ask them what is important to them. Some will worry more about profit, some more about budget, some more about delivery time, etcétera.

Finally, I have to say that the purpose of all this is to keep your stakeholders engaged and involved, in this way you will improve the chances of success of the project. I hope the article is useful to you.

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