2 - Stakeholder Management

Question 1

What is the Iceberg Model?

Answer 1

Idea not all stakeholders are immediately identifiable - the iceberg is biggest below the surface

Implies a stakeholder may be driven by something not immediately identifiable - what behaviours or pressures are affecting them?

• Events (what happened)
• Patterns (what are the trends)
• Structures (what influences / connects the patterns)
• Mental models (what values shape the system)

Question 2

What is a stakeholder analysis matrix?

Answer 2

Plots the level of interest and power of a stakeholder to drive the engagement plan with them.

Question 3

What are the main four quadrants of a stakeholder matrix?

Answer 3

Bottom left: Monitor
Top Left: Keep satisfied (meet the spec)
Bottom Right: Keep informed (don’t give them power)
Top Right: Manage Closely

Question 4

What steps should you take when undertaking stakeholder management?

Answer 4

• Identify
• Assess
• Plan
• Engage
• Review and update

Question 5

What guidance notes are there from RICS that talk about stakeholders?

Answer 5

Stakeholder Engagement Guidance Note

Question 6

What is in the Stakeholder Engagement guidance note?

Answer 6

• Produced with the APM
• Set out 10 principles connected to case studies of how to engage
  1) Consult Early and Often
  2) Plan It
  3) Relationships are key
  4) Just part of managing risk
  5) Compromise
  6) Understand what success is
• Difficult to predict reactions
• Influencing one can affect another
• No single approach

Question 7

What is a stakeholder

Answer 7

Anyone that can affect or is affected by what you are trying to achieve

Question 8

What is engagement?

Answer 8

All the things we might do with a stakeholder:
CLUC
- Consult
- Listen
- Understand
- Communicate