Stakeholder Management

Question 1

What is the RICS guidance on Stakeholder Management?

Answer 1

RICS professional Guidance, Stakeholder Management
2014

Question 2

What are the 10 principles
of Stakeholder Management?

Answer 2

1. Communicate
2. Consult early and often
3. They are only human
4. Planning
5. Build relationships
6. Simple but not easy
7. Management of risk
8. Compromise
9. Understanding success
10. Taking responsibility

Question 3

What is a stakeholder?

Answer 3

‘anyone that can affect or is affected by what you are trying to achieve’. Or, ‘those with an interest in the projects outcome’.

In a project environment the list of stakeholders might include:
client staff, landowners, local authorities,
tenants, ecologists

Question 4

How do you identify stakeholders?

Answer 4

Identified parties connected with the project that be impacted by a decision, activity, or outcome of the project.

Question 5

Now that you have identified your project stake holders, how do your prioritise them?

Answer 5

One method is to use Mendelow’s power interest matrix. Where you analyse the stake holders against two criteria: 1) How much influence does the stakeholder hold, 2) How much interest does the stakeholder have in the project.

Stakeholders are the prioritised according to the quadrant into which they fall. If the stake holder has low interest and influence, they will naturally be a lower priority in engagement. The oppsite for those with high interest and influence.

e.g. High interest/High Influcence = Key Player, High interest/Low Influence = Keep informed, Low Interest/High Influence = Keep Satisfied, Low Influence/Low interest = Monitor/Minimal effort.

Question 6

Internal vs external stakeholder?

Answer 6

Internal project stakeholders are individuals or groups within the organization that are directly involved in the project or have a vested interest in its successful execution and outcomes. They typically have a direct relationship on project: landowner, client, local authority

External project stakeholders, on the other hand, are individuals, groups, or organizations that are not part directly related to the project but may still have a vested interest. For example, neighbours, ecologists

Question 7

Tell me of a time that stakeholders have had conflicting priorities and how you managed the situation?

Answer 7

Across my Cadent Concrete Canvas job, I had to reach out to landowners and schedule in a programme of works for shallow cover remediations. Some of the ditches were located alongside crop fields that were actively in the growth period. I liaised with my client to shuffle the order of works around so that these would be completed post-harvest

Question 8

What is a stakeholder management plan

Answer 8

Stakeholder management plan is a document that outlines how stakeholders will be identified, engaged, and managed throughout the duration of a project

Question 9

What is contained in a stakeholder management plan?

Answer 9

Stakeholder Identification
Stakeholder Analysis and mapping
Stakeholder Engagement Strategy
Communication Plan
Identification of stakeholder Needs and Expectations
Stakeholder Engagement Activities
Stakeholder Management and Mitigation of risks and potential issues