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.
