Stakeholder Management: PMP Questions to Study

Sometimes, stakeholders are people who have their own opinions of how the implementation of a project should go. Project Management seeks to understand, manage and meet the needs of all of these stakeholders and ensure that all expectations are met.

The stakeholder management process involves communication channels that facilitate feedback to meet the needs and expectations of such individuals and groups.

Stakeholder management is the practice of having an active role in managing the expectations and requirements of the project stakeholders. For example, in a typical project, multiple stakeholders will be concerned about how this project will affect their daily lives, security, and sales.

PMP certification ensures that project managers have the knowledge required to lead and manage project teams toward completing projects. This can only be achieved by having a thorough understanding of the Project Management Body of Knowledge (PMBOK) and experience in applying the concepts, skills, and techniques associated with project management.

PMP certification is an international standard for professional certification for project managers.

Identify stakeholders

The first step in stakeholder management is to identify all of the stakeholders that may have an interest in your project. This list should include those who will benefit from your project and those who could be adversely affected by it.

Each stakeholder group has its own needs and expectations, so it's essential to understand these differences before moving on to the next steps.

Plan for stakeholder management

As the PMP, you manage stakeholder expectations, understand their needs, and determine how best to engage with them. Therefore, you must take the time to identify stakeholders throughout each project phase. This process will help you anticipate where issues may arise during implementation and be proactive in dealing with those problems.

 Once you have identified them, create an action plan for each participant that includes identifying the type of communication needed (frequency, mode, etc.) and what actions they need to take to remain informed regarding this specific project.

Manage stakeholder engagement

Managing stakeholder engagement, a large part of the Commitment Management process, boils down to understanding your relationship with that stakeholder.

You need to know who they are, what motivates them, and how they want to be engaged. You also need to understand when there might be variations in how that stakeholder participates in the project and how you can plan for those situations.

Finally, make sure that when you plan for changes or variations in your stakeholders' behavior, you document everything you learn about those changes so you can use that information when it comes time to respond appropriately.

Monitor stakeholder engagement

To maintain stakeholder engagement, you need to monitor and keep an eye on the engagement of each stakeholder. Project managers should understand how stakeholders impact the project and take actions to balance those impacts.

Project managers should also understand how stakeholder engagement affects project performance and how they can correct any variations to bring attention back to normal through good relationships.

Takeaway: PMP Stake Management Question

Which of the following is true concerning work performance data and performance information?

1. Work performance information represents raw observations and measurements.
2. Work performance data is used at the organizational level, while work performance information is used at the project-level
3. Work performance data is collected from monitoring and controlling processes.
4. Work performance information is more valuable than work performance data.

Which of the following is not a classification of stakeholder engagement?

1. Resistant
2. Unaware
3. Participating
4. Leading

Which of the following does not identify someone as a stakeholder during stakeholder analysis?

1. Someone who creates a need
2. Someone who proposes a solution
3. Someone who would be affected by the solution
4. Someone who is affected by the need

The primary purpose of the stakeholder register is:

1. To serve as a project directory
2. To keep a list of all project stakeholders
3. To record stakeholder issues on the project
4. To map functional requirements but to originate in stakeholder

What are the dimensions measured on a stakeholder grid?

1. Motive and opportunity
2. Expertise and influence
3. Access and availability
4. Interest and power