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Stakeholder Management according to PMBOK Guide Seventh Edition

Why it is important:
Stakeholder Management is crucial because it establishes a clear communication path between the project team and stakeholders. It ensures that stakeholders are appropriately involved and their needs are met, thereby contributing to project success.

What it is:
Stakeholder Management is a process of identifying, analyzing, planning, and implementing actions towards managing stakeholders' expectations and engagement levels in the project.

How it works:
Stakeholder Management consists of four processes: Identifying stakeholders, planning stakeholder engagement, managing stakeholder engagement, and monitoring stakeholder engagement. This includes classes of stakeholders, proactive management techniques, and tools like a stakeholder register and others.

Answering Questions on Stakeholder Management in an exam:
Understand the key concepts of stakeholder management, such as stakeholder analysis, engagement assessment matrix, and others. Consider the project scenario and the stakeholder's current and desired engagement level before answering the questions. Be aware of the impact of successful stakeholder management on project success.

Exam Tips: Answering Questions on Stakeholder Management:
1. Always consider the project's perspective and understand the role of stakeholder management in it.
2. For scenario-based questions, remember that effective communication is paramount in stakeholder management.
3. Use the PMBOK Guide Seventh Edition as reference material for your preparation.
4. Stakeholder identification is not a one-time activity; it happens throughout the project life cycle.
5. Engagement plans should be tailored to each stakeholder or group thereof.

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Stakeholder Management practice test

Stakeholder Management involves identifying the individuals, groups, or organizations that can impact or be impacted by the project, and developing strategies to manage their expectations and engagement. Stakeholder management focuses on effective communication, inclusion, and feedback mechanisms to ensure that stakeholders' needs and expectations are understood and managed appropriately. A project manager needs to master interpersonal and communication skills to build and maintain strong relationships with stakeholders, which can significantly influence the project's success.

Time: 5 minutes   Questions: 5

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Project Management Professional Preparation Package (2024)

  • Earn 35 PDUs needed for your PMP certification
  • 12955 Superior-grade Project Management Professional practice questions.
  • Accelerated Mastery: Deep dive into critical topics to fast-track your mastery.
  • Unlock Effortless PMP preparation: 5 full exams.
  • 100% Satisfaction Guaranteed: Full refund with no questions if unsatisfied.
  • Bonus: If you upgrade now you get upgraded access to all courses
  • Risk-Free Decision: Start with a 7-day free trial - get premium features at no cost!