Project management is all about effectively delivering a product, service, or result that meets the needs of stakeholders. In order to achieve this, it is important to identify and understand the stakeholders involved in the project from the very beginning. A stakeholder register is a document or tool used to identify and track all stakeholders involved in a project. In this article, we will discuss the importance of a stakeholder register, its purpose, and how to effectively use it in a project.
What is a Stakeholder Register?
A stakeholder register is a document or tool used to identify and track all stakeholders involved in a project. Stakeholders include any individual or group that has an interest or a potential interest in the project, whether they are directly or indirectly affected by the project’s outcome. The register typically includes information such as the stakeholders‘ names, roles, level of influence, interests, and expectations.
The purpose of a stakeholder register is to understand the stakeholders‘ needs, interests, and potential influence on the project. By identifying stakeholders early on, project managers can anticipate and manage their expectations, and effectively communicate project progress and changes.
Importance of a Stakeholder Register
Stakeholders can play a critical role in a project’s success, as they can influence the allocation of resources and the composition of the project team. For example, stakeholders may require specific team members to be included on the project, or they may have specific requirements that affect the project’s budget or timeline.
In the PMI world, “resources” refer to people, unless it specifically states “physical resources.” Therefore, stakeholders can have a direct influence on the project team, especially in a matrix organization.
A stakeholder register allows project managers to understand the interests and potential influence of stakeholders, which can help in developing effective communication and management strategies. It also helps project managers to identify potential risks and challenges that may arise due to conflicting interests among stakeholders.
Creating a Stakeholder Register
The process of creating a stakeholder register begins with identifying all the stakeholders involved in the project. This includes individuals and groups who will be directly or indirectly affected by the project’s outcome. Some examples of stakeholders include project sponsors, customers, team members, and regulatory agencies.
Once all stakeholders have been identified, it is important to gather information about each stakeholder. This information should include their name, role, level of influence, interests, and expectations. This information can be gathered through interviews, surveys, and other forms of communication.
It is also important to categorize stakeholders based on their level of influence and interest in the project. This will help project managers to prioritize communication and management strategies for each stakeholder.
Managing a Stakeholder Register
A stakeholder register is not a one-time effort, it must be regularly reviewed and updated to reflect any changes in stakeholders or their interests and expectations. This is important as stakeholders can change throughout the project’s life cycle, and the register must be kept current to ensure that all stakeholders’ needs and expectations are being met.
Project managers should also use the stakeholder register to track the communication and management strategies used for each stakeholder. This will help project managers to identify any issues or challenges that may arise, and make adjustments as necessary.
Conclusion
A stakeholder register is a valuable tool for project managers to identify and understand the stakeholders involved in a project. By identifying stakeholders early on, project managers can anticipate and manage their expectations, and effectively communicate project progress and changes. It also helps project managers to identify potential risks and challenges that may arise due to conflicting interests among stakeholders.