How do you develop and maintain a stakeholder management plan and strategy? (2024)

The first step is to identify who your stakeholders are and what their roles and interests are in the project. You can use various methods to do this, such as brainstorming, interviewing, reviewing documents, or using stakeholder maps. You should create a list of all the people, groups, or organizations that have a stake in the project outcome, such as sponsors, customers, users, team members, suppliers, regulators, or competitors.

The next step is to analyze your stakeholders and understand their level of influence, power, interest, and expectations in the project. You can use various tools to do this, such as stakeholder analysis matrices, power-interest grids, or influence-impact charts. You should classify your stakeholders according to their importance and attitude towards the project, and prioritize them accordingly. You should also identify any potential conflicts, risks, or opportunities that may arise from your stakeholders.

The third step is to define how you will engage with your stakeholders and what level of involvement and communication they need and want in the project. You can use various frameworks to do this, such as the RACI matrix, the stakeholder engagement assessment matrix, or the communication matrix. You should define the roles and responsibilities of each stakeholder, the frequency and mode of communication, the type and format of information, and the feedback and reporting mechanisms.

Developing a stakeholder management plan is the fourth step, which is a document that outlines your strategy and approach for managing stakeholders. It should include a stakeholder register with roles, interests, expectations, and contact details, a stakeholder analysis summarizing the results of your analysis and classification, and a stakeholder engagement plan specifying how to engage with each group and what actions to take to meet their needs and expectations. Additionally, the plan should detail how to communicate with each group and what information to share and receive, as well as identify and mitigate any potential risks or issues that may arise from your stakeholders.

The fifth step is to implement your stakeholder management plan and execute your stakeholder engagement and communication activities. You should follow your plan and ensure that you deliver on your promises and commitments to your stakeholders. You should also monitor and measure the effectiveness of your stakeholder management plan and strategy, and collect feedback and input from your stakeholders. You should use various tools and techniques to do this, such as surveys, interviews, meetings, reports, dashboards, or metrics.

The sixth and final step is to review and update your stakeholder management plan and strategy regularly and as needed. You should recognize that your stakeholders may change over time, as well as their needs, expectations, and concerns. You should also evaluate the impact of any changes in the project scope, schedule, budget, quality, or risks on your stakeholders. You should revise your plan and strategy accordingly, and communicate any changes to your stakeholders. You should also celebrate and acknowledge any achievements or successes with your stakeholders, and thank them for their support and collaboration.

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

Project Leadership

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