Stakeholder Management

Stakeholder Management

7.1 Stakeholder Identification

In adherence to the principles outlined in PMBOK® 6th edition, Section 13.2.3.1 introduces a methodical approach for

the identification, assessment, and engagement of stakeholders capable of exerting direct or indirect influence on a

project's trajectory, advancement, and ultimate outcomes, contingent upon their specific needs, concerns, interests,

influence, and authority. The meticulous identification of pertinent stakeholders emerges as a pivotal determinant for

the triumph of a project. In the context of the MM Cell Project, the project team harnessed the tools and

methodologies delineated in PMBOK® 6th edition Sections 13.1.2.1 (Expert Judgment) and 13.1.2.2 (Data Gathering)

to formulate a comprehensive roster of stakeholders during the Planning Phase. This exhaustive list is meticulously

catalogued in Appendix 4: Table 1 and Table 2, furnishing exhaustive details regarding each stakeholder's identity,

contact particulars, envisaged level of engagement in the project (Primary or Secondary), and their institutional

association with UNSW (Internal or External).

7.2 Stakeholder Analysis and Engagement

As learnt in the lectures and shown on PMBOK® 6th edition, the ratings of stakeholders are assessed based on their

power (impact on the project) and interest (impact of the project on them) on a scale of 1,2,3,4,5 from very low to

very high. Definitions for these ratings are provided in Appendix 4: Table 4. In the decision Matrix in Appendix 4: Table

5, these two metrics are used as decision criteria to determine the level of stakeholder engagement, which is then

linked to the four organizational capabilities (see Appendix 4: Table 6) to manage stakeholders effectively. Utilizing

this multi-faceted assessment empowers the Project Manager to efficiently involve every stakeholder throughout the

project's execution and decision-making processes, aiming to maximize their input and cater to their specific needs.

The detailed breakdown of the analysis and the recommended strategy for engaging with individual stakeholders is

provided in Appendix 4: Table 3.

7.3 Stakeholder Engagement Monitoring

It is essential to recheck the plan regularly in order to capture alterations in stakeholders’ information, which can

occur anywhere in the project. These updates have potential to expressively impact project objectives or stakeholder

contributions, leading to a revaluation of the management decisions for those stakeholders. Additionally, some other

sections of the Project Management Plan might be adjusted to integrate these changes, affecting areas such as

Project Schedule, Budget Management, Human Resource Management and Risks Management.

Monitoring stakeholders will be scheduled biweekly and after the completion of each milestone, aligning with the

frequency of Risk Audits in Risk Response Control. This process will identify new risks associated with stakeholders and

utilize tools from Risk Identification. Continuous monitoring and integration will promptly address emerging risks,

managing their impact on the project. Similarly, opportunities resulting from shifts in stakeholder power and influence

will be leveraged to maximize stakeholder value. Any modifications to the plan will follow the change management

process, requiring change requests when deem necessary