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Stakeholder Management Plan Template (Key Features)
The stakeholder management plan is a secondary plan in project management. Its function is to brief processes, needs, and techniques for indulging stakeholders based on evaluation of their requirements, abilities, and interests. The stakeholder management plan contains the techniques for handling both negative and positive project stakeholders.
It also includes a stakeholder register that encloses all the stakeholders and their contact information. Moreover, it also bears a stakeholder analysis document that reveals necessary information related to the needs of the stakeholders. As all the stakeholders are not alike, so the attention given to them may vary.
What is includes in Stakeholder Management Plan?
Project stakeholder management includes designing a management strategy for stakeholders that displays expectations, ensures stakeholders’ requirements are fulfilled, and rectifies uncertain conditions. It also takes care of the extent of communications among stakeholders. This evaluation portion is good for identifying risks that have to be mentioned in the risk management plan.
Importance Of Stakeholder Management Plan
Efficient stakeholder management is crucial to the success of the project. Key stakeholders usually exercise control over resources of projects like employees, budget, materials, or data important to success.
A well-documented plan for stakeholder management makes sure that the expectations and interests of the stakeholders are comprehended so that they can be managed accordingly. A plan allows you to communicate well with the team in order to work well.
The process of creating a plan also assists you to evaluate your stakeholders and understand them better.
HOW TO CREATE A STAKEHOLDER MANAGEMENT PLAN?
All the stakeholders might have different approaches depending upon the requirements of your project but there are always some common best practices for stakeholder management. Important ones are highlighted below;
Identification of Stakeholder:
To carry out the plan in the best possible is the target of a project manager and to start it right is critical. First of all, you need to understand the need of your proper and list out stakeholders accordingly. Then go for the best ones that fits the criteria of your business or project.
Each stakeholder has his/ her influence to the project. Prioritize the ones which can create greater impact to your project. With the help of an onion diagram, you can plot the impact of each stakeholder. The ones with the highest influence will take your project to a better state.
Knowing your stakeholder will help you work with them at better intensity. To develop better relation with a stakeholder conduct a formal meeting or interview session, which outlines questions that will help you know stakeholder in depth. Some of the questions you can add are mentioned below;
- How do you see this project?
- Which deliverable of this project drags your attention the most?
- What are your concerns regarding this project?
- Do you see any shift in the track of the project as it progresses?
Power Interest Grid of Stakeholder:
This power interest help you determine the power and interest of each stakeholder that is made the part of the project. The tool helps you to list the stakeholder in different categories.
Set and organize expectations For Stakeholder:
After the identification of the interest and involvement of the stakeholder, check where you can utilize the power of stakeholder. Figure out a communication plan with the stakeholder; develop healthy relation with the stakeholder. Make sure the whole process is transparent and there is no external involvement.
Importance of Stakeholder Management Plan for Project Manager:
For effective management of stakeholders just like other details in a project requires some plan. By the help of a proper management plan you can take things forward in a smooth way.
in addition, project manager is clearly aware about the power and impact of the stakeholder and can utilize their presence in the project in best possible way. The project’s team is always aware about the role and involvement of the stakeholder in the project which reduces the chances of hurdles or confusions as the project progresses.
Types of Stakeholder Management plan:
There are different templates for the stakeholder management; the project manager selects the best one suited for the project. Some examples of such templates are added here;
Stakeholder Engagement Plan:
Stakeholder engagement plan is also called stakeholder management plan template. The document has great importance in the project because it gives the stakeholder management a direction and outlines the methodology as well.
The core purpose is making a proper plan that will develop a plan of approach for the stakeholder management. It also develops a proper way to communicate the stakeholder.
Stakeholder Analysis Matrix Template:
The stakeholder matrix helps to map out the influence and interest in a project. It works as a great tool to monitor the influence with the minimum effort. The data is sorted in the quadrats which gives better clarity and grip over stakeholder management.
Related Article: Project Tracking Template
Stakeholder Communication Plan Template:
Simple communication plan can be adopted easily. The communication method and frequency is dependent on some variants like interest, influence of the stakeholder. With the help of communication plan tracking of the stakeholder management becomes better and easier.
Stakeholder Strategy Template:
The development of strategies for the engagement of stakeholder may differ according to the stages of the project hence to stakeholder strategy template can be used to sort the data and record it in a proper way. The strategies for each stakeholder will also be different as per the impact and interest of the stakeholder.
So, with the help of this Stakeholder Management Plan Template you can create a proper spreadsheet for the purpose.