1. How to define Stakeholders in the project
Stakeholders who are the heart of a successful project are groups and individuals who contribute to the project. Program management is to lead the stakeholders by defining what their authority is, and to whom they report.
2. Types of Stakeholder
Types of stakeholders are: Sponsor, Resource, Decision Makers, and Customers.
- Sponsor = Company or organization
- Resource = Staff/Line managers
- Decision maker = Upper management such as CFO,CEO, School Principal Etc.
- Customers = who pay the bill or users
3. Stakeholder analysis using Matrix
There is a good tool to manage stakeholders. Use { Power - Interests } matrix to allocates stakeholders. This can categorize the stakeholders to 4 groups.
I = Monitor, II = Keep Informed, III = Keep Satisfied, IV = Manage Closely
Priority for management is set accordingly.
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