Stakeholder Management
and Risk Management
IMPORTANT ANNOUNCEMENTS
1. Presentation for Preliminary Evaluation: September 11(Wednesday)
a. By group (the same group as in the Delivery Method)
b. Case Study. Each group will come up with the following: (all on Manila Paper,
Handwritten)
i. Some parts of the Project Charter ( I will specify on the day itself)
ii. Delivery Method Recommendation
iii. Stakeholder Engagement Plan
iv. Risk Management Plan
c. I will collect the Manila papers after the class period ends.
d. Half of the class will report on September 14 while half will report on Sept 18. The
groups who will submit the Manila papers earlier than the rest will have the
privilege of choosing their dates of reporting.
e. Everyone must have a part in the reporting.
IMPORTANT ANNOUNCEMENTS
1. Presentation for Preliminary Evaluation: September 11(Wednesday)
f . Grading
Correct: 5
Complete:5
Attendance: 5 if the whole team is present. -1 for every absent
Reporting: 10 (Individual) Correct concepts,Volume and Clarity of
reporting. Can answer correctly if I ask questions.
Review
Topics covered so far…
1. Understanding of Construction
2. Defined what a project is
3. Functions of a Project Manager
4. Project Lifecycle: Initiation
a. Described the different Delivery Methods
b. Identified Stakeholders and their Roles
c. Stakeholder Engagement Plan
d. Risk Management Plan
e. The Contract
5. Project Lifecycle: Planning
a. Work Breakdown Structure
Project Initiation
Initiating Process stresses the selection of a project worth doing and then the
development of a vision and the establishment of goals for the project.
• Recognizing that a project should be done.
• Determining what the project should accomplish.
• Defining the overall project goals.
• Defining general expectations of customers, management or other
stakeholders as appropriate.
• Defining the general project scope.
• Writing and agreeing on the statement of work or contract for the project.
• Establishing the “rules” for the project including levels of authority,
communication channels and the chain of command
Project Planning
involves defining the work necessary for completion of the project, Identifying the
resources required to complete the project, devising a schedule and developing a
budget for the project.
● Refining the project scope, which includes identifying the balance required
among results, time and resources.
● Listing tasks and activities that will lead to achieving the project goals.
● Sequencing activities in the most efficient manner possible.
● Developing a workable schedule and budget for assigning resources to the
activities required to complete the project.
● Getting the plan agreed to and approved by the appropriate stakeholders.
Stakeholder Engagement
Plan
Stakeholder Engagement Plan
documents the involvement and influence of your project stakeholders. It also
outlines how you plan to communicate with stakeholders.
KEY INFORMATION TO REFLECT:
● Stakeholder name: Identify who your stakeholder is.
● Interest level: Give stakeholders labels based on what level of interest or engagement they have in
the project. See the five levels of stakeholder engagement below.
● Influence level: Give stakeholders rating labels from very high to very low based on how much
influence they have on the project.
● Communication frequency: Identify how often you’ll communicate with this stakeholder.
● Communication channel approach: Identify what communication tool you’ll use to communicate
with this stakeholder.
● Information type: Identify the type of information you’ll deliver to this stakeholder when
communicating.
steps to create an SEP
steps to create an SEP
1. Identify your stakeholders
NOTE:
Stakeholders can either be individuals from within your team or external parties
that are impacted by your work.
● Internal stakeholders may include project managers, operations teams,
department heads, and board members.
● External stakeholders may include clients, customers, investors, suppliers,
company partners, or shareholders.
2.Identify your stakeholders
The five levels of stakeholder engagement
● Leading: A leading stakeholder is aware of the project’s impact and is actively
involved.
● Supporting: A supporting stakeholder is aware of the project’s impact and
supports the project.
● Neutral: A neutral stakeholder is aware of the project’s impact but neither resists
nor supports the project.
● Resistant: A resistant stakeholder is aware of the project’s impact but resists
change.
● Unaware: An unaware stakeholder doesn’t know about the project or its impact.
2. Identify your stakeholders
The scale of stakeholder influence
● Very high: A stakeholder with very high influence has a significant amount of
control over key project decisions.
● High: A stakeholder with high influence can cause others to take action.
● Medium: A stakeholder with medium influence is often part of the decision-making
process.
● Low: A stakeholder with low influence can offer opinions on decisions and express
their concerns, but you may not always take their ideas into consideration.
● Very low: A stakeholder with very low influence can engage in the project when
they desire, but they won’t have control over any decisions.
2. Map on
Interest/Influence
Grid
3. Build a Communication Plan
There are two steps to creating a communication plan:
1. Identify your different communication channels. Which
communication channels does your team regularly use? What is
each communication channel for?
2. Identify what type of communication each stakeholder quadrant
needs. Communication isn’t one-size-fits-all. Figure out how
you’ll communicate and educate stakeholders during the project
lifecycle.
See Template
Risk Register
Definition
A risk register is a guide that helps you track and address potential risks within a
project.
It doesn’t work to just document potential risks and forget about them. Instead, you
need to continuously track and address risks throughout the project lifecycle
Should include:
● Risk description: A brief description of the risk—like “unexpected
production costs” or “quality issues.”
● Risk identification date: The date when your team spotted the risk.
● Risk owner: The person responsible for developing and executing a risk
response plan.
● Due date: The timeline for when your team should complete each risk
mitigation plan.
● Risk category: The project area most impacted by the risk—like “budget,”
“schedule,” or “quality.”
Should include:
● Risk likelihood: The probability that the risk will actually happen. Risk
probability can be as simple as “not likely,” “likely,” and “very likely.”
● Potential impact: Also called a risk assessment or risk analysis, this
documents the extent to which the risk could disrupt your project. Most
teams opt for a five-point scale to document risk impact, ranging from one
(very low) to five (very high).
● Risk priority: The relative importance of each risk. This accounts for the
likelihood that the issue will occur, plus its potential impact.
References
https://asana.com/resources/stakeholder-engagement-plan-template
https://asana.com/templates/risk-register
