interacting with stackholders, types of stackholders, internal stackholders, external stackholders, stackholders interaction model, engaging stackholders, 10 Ways to Engage Project Stakeholders

2. INTERACTING WITH
STACKHOLDERS
Presented by :
Sadia Ejaz
Roll No:
17581556-092

3. What are stakeholders?
People or organisations with a special interest in a business.
This is normally because they are directly affected by the business
and how it operates – both now and in the future.

5. Examples of stakeholders in a project
The stakeholders in each particular project will vary depending on the type of
project and industry, but here are a few examples of the types of stakeholders
in project management you might need to consider:
Project manager Team members
Executives Senior management
Company owners Investors
Sponsors Financiers
Suppliers Vendors
Consultants Customers
End users Resource managers

6. Types of stockholders

7.  Stakeholders are individuals or organizations that are affected
by the consequences and outcomes of decisions.
 Internal stakeholders are those within an organization with an
interest in its success and failure, since they may be rewarded
or punished accordingly.
 Internal stakeholders include employees, managers,
executives, and stockholders and other owners.
Internal Stakeholders

8.  External stakeholders are individuals, groups,
and entities from outside that are affected by
the consequences and outcomes of an
organization's decisions.
 External stakeholders include customers,
suppliers, governments, and communities.
 External stakeholders can exercise different
types of power over an organization and try to
influence its decisions through applying
economic or political pressure.
External Stakeholders

9. TheStakeholder Interaction Model

10. Powerand influence
Some stakeholders are powerful.
They can influence how the
business operates.
Some stakeholders have little
power. The business can virtually
ignore their views.

11. Engaging stakeholders
The basic process for engaging with
stakeholders is very simple – it
consists of just five components.
It is implementing the process
rigorously that is hard work, and
sometimes difficult.
1.Identify
2.Analyze
3.Plan4.Act
5.Review

12. Step1: Identify
 Identify who your stakeholders are, and what your goals are for engaging with
them. Your stakeholders may be individuals, groups or whole organizations.
 The more widely you spread your net at this stage, the more robust your plans will
be. Also think about how you need to influence each stakeholder in order to achieve
the results you want.
.

14. Step 2: Analyze
• The more you understand about each
stakeholder, the more effectively you
can engage with them and influence
them.
• Because you will have limitations on
your time and resources, you need to
prioritize your interactions with them
and allocate your resources
accordingly
.

15. Step 3: Plan
• The third step is to draw up a campaign plan for engaging and communicating
with your stakeholders.
• This involves setting out the messages you will give, the approaches you will
take, who tackles each assignment and when, and how you will gauge and
handle the feedback you get.

16. Step 4: Act
• This is where you engage your stakeholders and seek to harness their
insights and influence their attitudes. Where you encounter resistance, you
will need to handle this positively in order to remove it where possible.
Step 5: Review
• The review cycle is critical to the success of your stakeholder engagement
campaign.
• Constantly monitor the outcomes of your communication with stakeholders
and reassess your plans where necessary.

17. 10 Ways to Engage Project Stakeholders
Let’s look at some practical ways that you can better engage and
influence your project stakeholders at the right times in your project
lifecycle.
1. Identify stakeholders early.
2. Get stakeholders talking to one another
3. Seek to understand before being understood
4. Listen, really listen.
5. Lead with integrity.
6. Engage your stakeholders in the estimates.
7. Work WITH your team.
8. Manage expectations.
9. Say thank you.
10. Communicate, communicate, communicate.