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January 27, 2014 / Vicki James

Stakeholder Management – It’s Catching On!

stakeholder

by Vicki James
 

I don’t know if it is coincidence or a theme, but I stopped by projectmanagement.com the other day and noticed five articles dedicated to stakeholder management. WOW!!! That was just grazing the headlines. What would I find if I started digging into the content of the other articles? I had noticed that it getting easier to spot articles on stakeholders when viewing media and social media sites. This is fantastic news as it tells us that the importance of good stakeholder management is more recognized.

All stakeholders are important to projects. Each one has the opportunity to influence the success or failure of the project. Yet one stakeholder still reigns as ‘the single most important stakeholder’. That is the sponsor. The sponsor holds the single most influence over the project. They hold the purse strings and have veto rights over all other stakeholders, including the project manager.

Strategies for Project Sponsorship was written to help project managers, sponsors, and organizations better understand and build a successful working dynamic. While the strategies are written specifically for the project manager and sponsor, most of the strategies hold true across all stakeholders.  Chapter 4, Managing Your Project’s Stakeholders specifically addresses stakeholder management including instructions in developing your stakeholder matrix and influence map.  Perhaps the concepts are catching on.

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