PM/310 v2 Stakeholder Analysis. Mark is a project manager at a financial institution where data security is a top priority.

Stakeholder Analysis

Project teams include everyone who has a say in what happens during the project life cycle. The project manager needs to be able to coordinate the project’s milestones with everyone on the project team, as well as coordinate who among the stakeholders has the interest and power to complete the various milestones.

In this assessment, you will create a power/interest grid and develop a stakeholder matrix to analyze the stakeholder relationships and how to improve the collaboration for successful project implementation.

Assessment Preparation

Read the following scenario:

Mark is a project manager at a financial institution where data security is a top priority. Akeasha, the head of IT, has launched a project to replace any illegally installed software on the organization’s workstations with legal versions. Mark’s role is to collaborate with employees and department heads to ensure the project’s success. While most stakeholders are supportive, Angela, the head of investments, and Enrique, the head of customer relations, have been challenging to work with. Angela often claims she does not receive Mark’s emails, while Enrique only responds to Mark in person due to his busy schedule.

Mark’s goal is to improve his collaboration with Angela and Enrique while maintaining strong engagement with other stakeholders to successfully implement the project.

Assessment Deliverable

Complete the Stakeholder Analysis worksheet.

PM/310 v2 Stakeholder Analysis

Complete Parts 1–3.

Part 1: Stakeholder Matrix

In this table, you will identify stakeholders and their expectations, engagement, actions, and management approach. Note: The italicized first row is an unrelated example and should be deleted prior to submission. Use this row as a guide and complete the following:

• In the Name and Role column, identify the name of the stakeholder and their role from the scenario.
• In the Expectation column, briefly describe the extent of how involved the stakeholder is in the project, in approximately 5–15 words.
• In the Engagement column, briefly describe how effectively each stakeholder is currently collaborating on the project and of the stakeholder, in approximately 5–15 words.
• In the Action column, briefly recommend ways to improve the engagement of the stakeholder, in approximately 5–15 words.
• In the Management Approach column, assign one of the following management strategies to the stakeholder: manage closely, keep informed, keep satisfied, or monitor with minimal effort.

Part 2: Stakeholder Engagement Matrix

Classify each stakeholder’s power, interest, and current level and desired level of engagement within the project. Note: The italicized first row is an unrelated example and should be deleted prior to submission. Use this row as a guide and complete the following:

• In the Name and Role column, identify the name and role of the stakeholder.
• In the Power column, indicate if the stakeholder has high or low power in the project.
• In the Interest column, indicate if the stakeholder has high or low interest in the project.
• For the remaining columns, assign each stakeholder a C and D in the column that aligns with their level of engagement. The column options are: unaware, resistant, neutral, supportive, leading.
• Use a “C” to indicate their current level of engagement.
• Use a “D” to indicate their desired level of engagement.

Part 3: Analysis

Write a 350- to 700-word analysis in which you:

• Explain how Angela’s and Enrique’s positions in the power/interest grid (High/Low) affect how much they will be involved in the project. This may include discussing how their positioning affects their motivation, influence, and communication style.
• Examine the stakeholders with low or medium engagement level. Identify ways to improve their level of engagement closer to effective collaboration. This may include examining what impact low engagement can have on the project, especially when it comes to potential misalignment, resistance, or inefficiencies, and examining team dynamics.
• Describe how you would use the stakeholder register to develop the communication plan for collaborating as a team. This may include discussing various engagement techniques, proactive approaches, or examples from personal experiences or case studies.
• Create a communication plan that indicates the frequency of meetings, types of meetings, and level of engagement for each of the stakeholders.

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