BSBPMG538 Project Attacko

docx

School

Lonsdale Institute *

*We aren’t endorsed by this school

Course

538

Subject

Management

Date

Feb 20, 2024

Type

docx

Pages

Uploaded by JusticeGorillaPerson7776

BSBPMG538 Manage project stakeholder engagement Otgonbaatar Damdinragchaa

Project. 1. List four (4) forms (levels) of engagement with stakeholder. Informing/updating stakeholders Low-Interest/low-Influence stakeholders are the group that needs to be at the minimum level of engagement. Your job is to push information to them and keep them informed. The onus is on them to read what you publish. Post relevant information for them to digest and that they know where to find it: 1. Social Media Corporate Pages. Facebook, Twitter, LinkedIn, YouTube, etc. 2. Press Release Outlets. If you use an agency to do your press releases, these stakeholders must be informed about how to find them. If you do it internally, a link to an announcement should be pushed to them. 3. Project blogs and company blogs. Show them how to subscribe to the RSS feed so that the notifications of new content send an automatic notification. 4. Corporate websites. Your project should have a dedicated web page. 5. Digital newsletters and emails. They should be on the distribution list. Consulting stakeholders High-interest/low-influence stakeholders should be connected to everything you’re doing for the low-Interest/low-influence group as a starter. Beyond that, some additional consulting resources need to be put into play. You need to demonstrate consideration for their high level of interest regardless of their lack of influence.  Set up online discussion forums for these stakeholders to participate in if they have questions or feel the need to respond to other issues being discussed in the forum. This provides a path for ideation as you deal with important issues.

 Use E-polls and online surveys to gauge their reactions to changes in the projects as announced in the digital media. The responses they provide must be analysed and catalogued for future reference. Collaborating with stakeholders These are the bread and butter of your engagement. The collaboration process involves the high-interest/high-influence stakeholders of your project and you must treat them as part of your team.  Review the project risk register in real-time. Make it available as a shared file and make sure they are notified every time a change is made.  Involve them to co-author relevant process documents.  Invite them to provide guest posts to your project and company blogs. Take it to the next level by developing a list of topics that might be well-suited to the specific interest they have in your project.  Use them as your pseudo-board of directors for the project team management. Share cost, schedule and performance concerns with them and get their feedback and suggestions.  Give them a corporate email tied to your project and make sure they are on the distribution list for important information that will serve as a heads up for pending PR announcements and major project announcements.  They need to be part of your internal project management communication channels. If you use a project communication tool like Slack, they should be on it. If you are using a formal task management tool, they should be invited to each task list and given work to accomplish as part of the project schedule. 2. Describe five (5) stakeholder engagement methods. 1. Survey Your Stakeholders While your staff holds relationships with lawmakers through formal lobbying and advocacy, your stakeholders likely have existing personal relationships with legislators that you may not be aware of. Perhaps they went to college together, were neighbors growing up, or their kids

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

play on the same soccer team. By surveying stakeholders, you can learn what relationships exist in your network and use them to amplify the issues you care about. 2. Prioritize Your Stakeholders by Interest and Influence If your organization has a large number of stakeholders, it is an important part of your stakeholder engagement strategy to prioritize your stakeholders by their interest in being involved with your organization and their level of influence on particular issues. This can help segment your engagement. For example, if a stakeholder is less interested in being involved, you may want to be more limited in how often you communicate with them. Or, if a particular stakeholder has a lot of influence, you may want to be more personal with your outreach so that they are more excited about working with you. 3. Map Stakeholders to Measure ROI of Stakeholder Engagement How do you do that—by mapping your stakeholders (by whichever method your team chooses) at the beginning of the year, then tracking your engagement throughout the year, and re-mapping stakeholders at the end of the year, you can see how effective your team was at getting your stakeholders more engaged on the issues your team cares about. 4. Communicate Company Activity Regularly A key strategy for stakeholder engagement is consistently communicating company activity. For Coca-Cola, this means communicating with the launch of a new product, the promotion of a new community initiative, or the release of a Super Bowl ad—messages it calls “News from The Coca-Cola Company”. 5. Log Meetings to Maintain Institutional Knowledge Ever have a team member leave your organization and take all their relationships and institutional knowledge with them? Use a system to log meetings so that the information is maintained in an organized way rather than just in someone’s head. And institutional knowledge isn’t the only benefit of logging meetings. If your team is organized by issue and multiple team members are meeting with the same legislators, refer to notes from previous meetings so as not to cross wires and cause confusion with a legislator and their staff. Include notes on how good the meeting was and update your stakeholder map based on the quality of meetings with a given office. While taking a moment to log meetings can be an extra step in your work day, you’ll work smarter when your meeting notes are organized in a digital system.

3. How would you identify stakeholder interests and expectations? A stakeholder’s interest in a project will depend on a number of factors, which can alter and shape their perspective over time. Managers should aim to identify these contributing issues and judge how they affect the overall progression of the project – either positively or negatively. These factors include:  Their role in the project or organisation  History of commitment and associated relationships  The threats or benefits to their organisation  Risk of losing credibility  Prejudices or old alliances  Brand considerations  Desire for innovation The key to managing expectations is communication – and initiating a dialogue with the most influential stakeholders is a primary responsibility for project leaders. However, it is essential for managers to first understand why these particular stakeholders are important, what their requirements are, and whether their desired outcomes are realistic. A successful project manager should:  Define the project aims to stakeholders from the outset  Provide regular progress reports  Show how progress is resulting in value  Encourage delegation where necessary  Open up less formal lines of communication to accommodate busy stakeholders  Trace accountability and record decisions/agreements It is also important to be agile to changing market conditions that could ultimately affect stakeholder expectations.

Project managers must constantly reassess their existing preconception of stakeholder motivations and attitudes to account for the evolving business landscape. There is rarely a one-size-fits-all solution for every stakeholder, meaning a range of communication channels and approaches must be used to achieve optimal results. 4. What does stakeholder engagement theory involve?.  Principle of Entry & Exit – An entity should have clear rules for hiring, firing, and work profile of the employees with no ambiguity.  Principle of Externalities – The decisions taken by an entity may affect people who have no relations with the entity. The theory suggests that people who may be affected by the findings of a business are also to be treated at par with other stakeholders.  Principle of Agency – The shareholders appoint the company’s management to run the entity’s business. Management is not the owner of the entity but an agent acting on behalf of the company.  Principle of Governance – Any changes affecting the relationship between stakeholders and the company need to be approved by them unanimously.  Principle of Contract Cost – The stakeholder should bear any cost on an equal basis, i.e., one should not pay more than another. Furthermore, the cost-sharing should be similar or proportionate to the advantage gained.  Principle of Limited Immortality – The firm should operate with long-term objectives at focus and not for the motivation of short-term perks. Longevity ensures confidence in the stakeholders of the entity. A stakeholder is concerned with the long-term goals of the entity. 5.Describe four (4) types of project stakeholders.  Project sponsor The persons accountable and responsible for representing the sponsoring business  Customer or Client

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Representatives from the sponsoring business eho have a stake or role in the project such as providing requirements  Program Management A project may fall under a program or impact programs  Project Management Managers of the project or projects that are related or impacted. 6. What is a performance review? A performance review is a periodic assessment of an employee's overall performance and their contribution to the organisation. Typical of work appraisals, a work review entails identifying employee strengths and weaknesses, setting future goals and sharing feedback. Some companies conduct their performance reviews annually, while others do so monthly or quarterly. 7. Describe four (4) steps in a performance review.  Essay evaluation: The employee or the assessor writes a brief essay that summarises the strengths and weaknesses of each employee including supporting facts and case studies. While this approach results in a thorough assessment, it can be time consuming.  Self evaluation: HR asks each employee to fill out a self-assessment form, which lets them reflect on their performance, conduct and behaviour. Letting employees do a self-evaluation enables the management to compare their own assessment and what their employees think of themselves.  Checklist scale: This approach entails preparing and completing questionnaires with yes or no answers. The assessor answers specific questions that relate to the employee's performance, competencies and skills.  Critical incident: With this method, the employer maintains a logbook that details instances of positive and negative conduct among employees. For example, one

employee may have performed a project to a high level while another may have behaved poorly towards a customer or a colleague.

BSBPMG538 Project Attacko

Related Documents