Organization Mgt

Stakeholder Management:

Effective stakeholder management is one of the many issues facing business and organizations in today’s marketplace. The effective management of stakeholders requires project managers to understand the needs and wants of all parties that have a vested interest in the project. A stakeholder in the Acme Mexico City Project is defined as individual that can positively or negatively influence the outcome of the project. The Acme Mexico City Development team will use a stakeholder analysis tool to identify key stakeholders as well as assess interest, positions, intentions, alliances and the influence or resources they have on the decision-making process. This information will used to develop strategies for managing internal and external stakeholders as well as provide the project team the opportunity to detect and take measures to avoid misunderstandings and potential oppositions to the project.

In the Acme Mexico City Development project, the identification of the major contributors to the project is the first step in a stakeholder analysis. It is imperative for the project manager to identify and list all potential internal and external stakeholders for the Acme Mexico City development project. Potential external and internal stakeholders in this project are, but not limited to, the project sponsors, project team members, project managers, support staff, top management, functional managers and internal customers, project customers, competitors, suppliers, government officials, citizens, and vendors. After the identifying stakeholders, the project manager must segment stakeholders into power/ interest groups and analyze intentions, interrelations, agendas, interests, and influences or resources these individuals have on the decision-making process. The team will utilize a stakeholder expectation questionnaire to analyze specific stakeholder influences and analyzes.

Figure 4: The Acme Mexico City Development project stakeholder...