The new PM Knowledge Area: Project Stakeholder Management

Recently the Project Management Institute (PMI) issued the fifth edition of the Project Management Body of Knowledge (PMBOK5Ed.).  This new edition brings a new PM Knowledge Are titled “Project Stakeholder Management”.

Project Stakeholder Management includes the processes required to identify the people, groups, or organizations that could impact or be impacted by the project, to analyze stakeholder expectations and their impact on the project, and to develop appropriate management strategies for effectively engaging stakeholders in project decisions and execution. Stakeholder management also focuses on continuous communication with stakeholders to understand their needs and expectations, addressing issues as they occur, managing conflicting interests and fostering appropriate stakeholder engagement in project decisions and activities. Stakeholder satisfaction should be managed as a key project objective. (PMBOK5Ed.)

Probably you are asking what why a new PM Knowledge Area and what are the differences.  Well, lets see differences starting with a briefly review of the PMBOK4Ed.

PMBOK4Ed.

This edition does not dedicate a knowledge area for Stakeholder Management.  Only the PM Communication Management Knowledge Area discusses briefly the Stakeholder Management in terms of Stakeholder Management Strategy.

The stakeholder management strategy defines an approach to increase the support and minimize negative impacts of stakeholders throughout the entire project life cycle. It includes elements such as key stakeholders who can significantly impact the project, level of participation in the project desired for each identified stakeholder, and stakeholder groups and their management (as groups). (PMBOK4Ed.) 


PMBOK5Ed.

In this edition recognizes the importance of the Stakeholders Management.  The simple definition of Stakeholder clearly demonstrate impacts stakeholders might have in a project: An individual, group, or organization who may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project. (PMBOK5Ed.)

Stakeholder Management is covered from Initiating Process Group to Monitoring & Control Process Group.  I recommend including Stakeholder Management in the Closing Process Group as part of the lessons learned exercises and the communication of them.

  

The Project Stakeholder Management processes include the following:

Identify Stakeholders (Initiating Process Group)

The process of identifying the people, groups, or organizations that could impact or be impacted by a decision, activity, or outcome of the project; and analyzing and documenting relevant information regarding their interests, involvement, interdependencies, influence, and potential impact on project success. (PMBOK5Ed.)

It is important to identify the stakeholders.  If you have any doubt in the identification for a stakeholder, just include the stakeholder as part of the analysis for applicability.  The following are steps included in the Stakeholder Identification:

• Stakeholders Analysis
• Stakeholder Mapping (Power/Interest Grid)
• Stakeholders Register

Plan Stakeholder Management (Planning Process Group)

Plan Stakeholder Management is the process of developing appropriate management strategies to effectively engage stakeholders throughout the project life cycle, based on the analysis of their needs, interests, and potential impact on project success. The key benefit of this process is that it provides a clear, actionable plan to interact with project stakeholders to support the project’s interests. (PMBOK5Ed.)

Manage Stakeholder Engagement (Executing Process Group)

Manage Stakeholder Engagement is the process of communicating and working with stakeholders to meet their needs/expectations, address issues as they occur, and foster appropriate stakeholder engagement in project activities throughout the project life cycle. The key benefit of this process is that it allows the project manager to increase support and minimize resistance from stakeholders, significantly increasing the chances to achieve project success. (PMBOK5Ed.)

Control Stakeholder Engagement (Monitoring & Control Process Group)

Control Stakeholder Engagement is the process of monitoring overall project stakeholder relationships and adjusting strategies and plans for engaging stakeholders. The key benefit of this process is that it will maintain or increase the efficiency and effectiveness of stakeholder engagement activities as the project evolves and its environment changes. (PMBOK5Ed.)

Projects cannot be executed alone, they need people and those people might be affected in a positive or negative way by the project.  If you want to complete a successful project, perform an active and effective Stakeholder Management.

Comments and/or questions are welcome.