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Stakeholder Analysis

5 minutes 5 Questions

Stakeholder Analysis is another crucial process which comes after Stakeholder Identification. It involves analyzing and understanding the stakeholders' needs, expectations, relationships among stakeholders, and the influence they bring to a project. Stakeholder analysis is critical as different stakeholders have different levels of interest and power over the project. This analysis will help determine the level of attention each stakeholder requires and help in mitigation or leveraging of their impact on the project.

Guide: Stakeholder Analysis

Stakeholder Analysis is a technique crucial to project management and more specifically in the PMI-ACP exam. It involves identifying, assessing, and understanding stakeholders in order to effectively engage them during the project cycle.

Why it is Important:
Effective stakeholder analysis is essential as it allows for better communication, identifies the influence and interest of stakeholders, and aids in risk management by predicting stakeholders' reactions to different scenarios.

What it is:
Stakeholder analysis is a systematic process used in project management that involves identifying all vital stakeholders for a project, determining their needs and influence, and managing their expectations.

How it Works:
Stakeholder analysis typically involves four steps:
1. Identifying Stakeholders: Determine who has an interest in the project.
2. Analysing Stakeholders: Understand stakeholders’ interest, power, and potential impact on the project.
3. Prioritizing Stakeholders: Prioritize them based on their impact and influence.
4. Engaging Stakeholders: Make a plan on how to engage stakeholders throughout the project.

How to Answer Questions Regarding Stakeholder Analysis in an Exam:
1. Understand the Concept: Make sure you're well-versed with the basics of stakeholder analysis and why it's essential.
2. Apply Practical Knowledge: Use your understanding of real life projects to answer questions.
3. Remember the Steps: The process of stakeholder analysis is a key part of understanding and answering related questions.

Exam Tips: Answering Questions on Stakeholder Analysis
1. Understand the terminology: Make sure you are familiar with terms related to stakeholder management such as 'stakeholder register', 'engagement level' etc.
2. Scenarios: Be prepared to answer scenario-based questions that require application of the concept.
3. Watch the language: PMI-ACP exam often uses tricky language. Be sure to read questions thoroughly and understand what is being asked before answering.
4. Remember, always keep the overall project goals and stakeholder needs in balance.

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PMI-ACP - Effective Stakeholder Engagement Example Questions

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Question 1

During a stakeholder analysis, you identify a stakeholder who exhibits high power but low interest in the project. However, this stakeholder suddenly starts attending project meetings and asks probing questions. What should be your approach as the project manager?

Correct Answer: Re-evaluate the stakeholder's engagement level and update the stakeholder engagement plan accordingly

The best approach is to re-evaluate the stakeholder's engagement level and update the stakeholder engagement plan accordingly. As a project manager, it is essential to continuously monitor and assess stakeholder engagement throughout the project lifecycle. If a stakeholder who was initially identified as having low interest starts showing increased involvement and asks probing questions, it indicates a potential shift in their engagement level. By re-evaluating the stakeholder's engagement and updating the stakeholder engagement plan, the project manager can ensure that the project team is prepared to effectively communicate and collaborate with this stakeholder moving forward. This approach allows for adaptability and proactive management of stakeholder relationships. The other options are not as effective because: - Continuing with the current plan and assuming the behavior change is temporary may lead to missed opportunities for stakeholder engagement and potential misalignment. - Informing the stakeholder that their involvement is not required based on the initial assessment may damage the relationship and overlook the value they can bring to the project. - Assigning tasks to the stakeholder without first understanding their interest and expectations may lead to confusion and potential resistance.

Question 2

A project manager is updating the stakeholder register for a software development project. Which of the following changes requires the most immediate attention for stakeholder analysis?

Correct Answer: A new executive sponsor has been assigned

From the perspective of project management, a change in the executive sponsor requires the most immediate attention for stakeholder analysis. The executive sponsor typically has high influence, power and interest in the project. Consequently, any change related to them can have significant impacts on the project's direction, priority, resource allocation and outcomes. It is important for the project manager to update the stakeholder register to reflect this change, analyze potential impacts, and develop strategies to manage this new stakeholder's expectations and influencesOn the other hand, 'A team member has been promoted internally' is less likely to have as much impact unless the promotion is to a key decision-making role. 'A previously uninterested client has provided positive feedback' may lead to potential new opportunities but doesn't usually require immediate stakeholder analysis. Feedback is often used as an input in the communication management process rather than the stakeholder management process. As for 'A vendor has upgraded their software tools', while it may have some impact, it is typically handled within the project's risk or procurement management processes rather than stakeholder management.

Question 3

During a highway construction project, a project manager is conducting stakeholder analysis to identify the main stakeholders. Which of the following is not a stakeholder?

Correct Answer: A filmmaker living in another city

In the context of project management, a stakeholder is any individual, group, or organization that can affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project. In the case of a highway construction project, the local government, residents living nearby, and environmental protection agencies are stakeholders because the project may directly affect them, for example through changes in traffic patterns, noise, or environmental impacts. On the other hand, a filmmaker living in another city would not be a stakeholder unless the construction project somehow affected their work or livelihood, which seems unlikely. Therefore, 'a filmmaker living in another city' is the best answer because it is the least likely to be a stakeholder in the highway construction project.

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