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Stakeholder Management
Home PDU for the PMP® / Leadership

Stakeholder Management

USD 10.00
instructor
Instructor
Alan Fata
Category
Leadership
Difficulty
Easy
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Course Highlight Curriculum Course Content Take The Test
A project is successful when it achieves its objectives and meets or exceeds the expectations of the stakeholders. But who are the stakeholders? Stakeholders are individuals who either care about or have a vested interest in your project. They are the people who are actively involved with the work of the project or have something to either gain or lose as a result of the project. When you manage a project to add lanes to a highway, motorists are stakeholders who are positively affected. However, you negatively affect residents who live near the highway during your project (with construction noise) and after your project with far-reaching implications (increased traffic noise and pollution).

The project sponsor, generally an executive in the organization with the authority to assign resources and enforce decisions regarding the project, is a stakeholder. The customer, subcontractors, suppliers, and sometimes even the government are stakeholders. The project manager, project team members, and the managers from other departments in the organization are stakeholders as well. It’s important to identify all the stakeholders in your project upfront. Leaving out important stakeholders or their department’s function and not discovering the error until well into the project could be a project killer.

NOTE: Key stakeholders can make or break the success of a project. Even if all the deliverables are met and the objectives are satisfied, if your key stakeholders aren’t happy, nobody’s happy.

Other course details:
  • This is an introductory course that does not require any prerequisite.
  • This course can be taken on a standalone basis.
  • This course is chapter 5 in the book titled "Project Management".
  • It provides 1 PDU (Leadership skill) towards your PMP professional development education.
Course Features
Credits:
2 PDU
Skill Section:
Leadership
Access:
Lifetime
Test Questions:
15
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