Guide: Stakeholder Prioritization for PMI-ACP Exam

Why it is Important:
Stakeholder Prioritization is a critical component in project management. It helps in deciding how to allocate resources and manage relationships among the various stakeholders of a project. This, in turn, affects the direction, execution & success of a project.

What it is:
Stakeholder Prioritization is the process of ranking stakeholders based on their influence, power, interest and impact on the project. It helps in guiding stakeholder engagement activities, communication efforts and mitigating potential issues.

How it works:
Stakeholder Prioritization typically involves identifying stakeholders, assessing their interest, influence and impact on the project and prioritizing them based on these factors. Various tools and techniques like Power-Interest matrix, Stakeholder Engagement Matrix etc. can be used for this purpose.

How to answer questions regarding Stakeholder Prioritization in an exam:
Understanding the principles and tools used in Stakeholder Prioritization is key to answering questions on this topic. You need to apply the principles in different scenarios that might come up in the exam. Always consider the project's objectives and the stakeholders' interests and levels of influence while answering.

Exam Tips: Answering Questions on Stakeholder Prioritization:
- Show a clear understanding of the tools and techniques used for Stakeholder Prioritization.
- Demonstrate the ability to effectively prioritize stakeholders in different scenarios.
- Do not overlook stakeholders with lower influence; they may have high interest and can impact the project.
- Understand that Stakeholder Prioritization is dynamic and needs re-evaluation as the project progresses.