1

Running Head: PROJECT MANAGEMENT HISTORY & STAKEHOLDER

MANAGEMENT

Unit 1: Project Management History & Stakeholder Management

Submitted in Partial Fulfillment of the Requirements for

MGMT604

11th OCTOBER 2018

Introduction

Projects incorporate every unique sort of stakeholders. Stakeholders can be

internal or external. They can have fluctuating dimensions of impact on the venture.

Project stakeholders can be associated with the venture at different dimensions. By

appropriately recognizing the right dimension of both impact and contribution of the

project stakeholders and commitment can be overseen more adequately.

Identifying Stakeholders
 2
PROJECT MANAGEMENT HISTORY & STAKEHOLDER MANAGEMENT

The way toward distinguishing project stakeholders includes deciding the people

and groups who will influence or who will be influenced by the task and recording their

impact and contribution levels (“Project Management Institute”, 2013). Distinguishing

the project stakeholders starts with posting the names of the people and groups who are

identified with the venture. Along with the determining the stakeholders, their

dimensions of impact on the venture ought to be reported. Internal and external

stakeholders are the two important categories of stakeholders that should be considered.

Internal stakeholders comprise with the following stakeholders that are directly involve in

the project.

 Project manager

 Project Team

 Program or Portfolio manager

 Financer

 Sales and marketing

Stakeholders will apply distinctive dimensions of effect on a venture. An internal

client may apply a larger amount of impact on a task. For instance, an internal client may

impact a project extraordinarily to actualize another communication framework for that

sector. Stakeholders with lower dimensions of impact are normally the stakeholders who

are influenced by the task expectations however do not impact how the venture is

actualized. For instance, a venture to construct another client relationship administration

framework inside an association will not have the association's clients, who will profit by
 3
PROJECT MANAGEMENT HISTORY & STAKEHOLDER MANAGEMENT

a framework. External stakeholders comprise with the following stakeholders that are

indirectly involve in the project.

 Consumers

 Supplier

 Government

 Local community

Classification model is an effective tool to evaluate the interest and influence

level of project stakeholders which is known as power interest grid. A task stakeholder

who has a high enthusiasm for the venture yet a low impact level would be inside the

Keep Informed quadrant. While a stakeholder who has a high enthusiasm for the venture

and a high impact level would be overseen more closely and fall under the quadrant of

Manage Closely. The Monitor quadrant is saved for those stakeholders who have both

low interest levels and low impact levels in the venture. Stakeholders categorized in the

Monitor quadrant must be observed in light of the fact that their capacity, impact, interest

or effect could change over the term of the task. The Keep Satisfied quadrant contains

stakeholders who have a low enthusiasm for the venture yet have a high impact level.

Engagement of stakeholders can happen throughout the entire task. In the start of

the task, the end clients might be included vigorously as they help with the improvement

of the venture expectations. After the expectations have been recognized, the contribution

of the clients might be diminished to changes to the project expectations amid the task

execution. Every venture is different and clients might be included energetically

throughout the entire task.

 4
PROJECT MANAGEMENT HISTORY & STAKEHOLDER MANAGEMENT

Stakeholder register comprise with the following information.

 Name

 Department

 Title

 Role on Project

 Communication Types

 Stake in project

 Influence

Stakeholders have distinctive dimensions of obligations and expert while contributing

on a task. This dimension may vary as the task continues. It can extend from intermittent

commitments to full sponsorship. Some stakeholders may weaken from the achievement

of the task. These stakeholders require the project manager consideration amid the entire

a project cycle.

Recognizing the stakeholder is a continual procedure amid the whole project.

Distinguishing them, understanding their dimension of impact on a project, and fulfilling

their requests, needs, and desires is fundamental for the achievement of the successful

project. Stakeholders can influence project destinations positively or adversely, a venture

can be seen by the stakeholders as having positive or negative outcomes. One of the most

critical obligations of a project supervisor is to oversee stakeholder desires, which can be

 5
PROJECT MANAGEMENT HISTORY & STAKEHOLDER MANAGEMENT

dangerous as stakeholders have exceptionally conflicting goals (“Invensis Learning”,

2018).

Conclusion

Stakeholders are individuals who get influenced by venture or have any sort of

enthusiasm for it. They can be positive, negative, internal, external, high power, low

power, and so on. Though, to finish project effectively, it is necessary to deal with every

one of these stakeholders and satisfy their prospects.

References

Invensis Learning (2018). Who are Project stakeholders and why are they important for

project? Retrieved from, https://www.invensislearning.com/resources/pmp/who-

are-project-stakeholders-and-why-are-they-important-for-a-project

Project Management Institute (2013). The Value of Project Management. Retrieved

from, https://www.pmi.org/-/media/pmi/documents/public/pdf/white-

papers/value-of-project-management.pdf
 6
PROJECT MANAGEMENT HISTORY & STAKEHOLDER MANAGEMENT