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[Virtual Presenter] Today's lecture is on stakeholder management. Stakeholders are individuals or organizations who are actively involved in a project, or whose interests may be positively or negatively affected by the execution or completion of a project. They may also exert influence over the project's objectives and outcomes. Effective stakeholder management is a key component of project management in order to deliver a successful project..
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[Audio] By the end of this lecture, you will be able to: Use different methods to identify project stakeholders Determine the best approaches to engage stakeholders and build trust Recognize how to work with stakeholders to proactively accept changes in the project Focus on active listening when stakeholders have concerns, issues or suggestions to promote organizational value.
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[Audio] A stakeholder can be defined as: "A group or individual who can affect or is affected by the achievement of the organization's objectives" "An individual, group or organization who may affect, be affected by or perceive itself to be affected by a decision, activity or outcome of a project" For example, in a hospital building project, stakeholders may include the hospital administration, doctors, nurses, patients, construction company, local residents, government agencies, etc..
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[Audio] The list of potential stakeholders for a project can be very large, depending on the organization, industry and nature of the project. For a hospital building project, stakeholders may include sponsors, project manager, project team, customers, users, suppliers, contractors, consultants, subject matter experts, local government agencies, environmental agencies, advocacy groups, media, and more. It's important to thoroughly identify all potential stakeholders early in the project to develop appropriate engagement and communications plans..