What is a Stakeholder Management Strategy?
A Stakeholder Management Plan is used by project managers and teams to manage stakeholder expectations, interests, and involvement in a project. It is designed to help identify, analyze, and document the various stakeholders involved in a project and develop strategies for their engagement and management. It provides a framework for understanding the impact of stakeholders and managing their interests in alignment with the project objectives.
What's included in this Stakeholder Management Strategy template?
- 3 focus areas
- 6 objectives
- 6 projects
- 6 KPIs
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
Who is the Stakeholder Management Strategy template for?
This Stakeholder Management Plan template is for project managers and teams who want to ensure that the interests of all stakeholders are addressed and managed effectively. It is suitable for teams across all industries and can be customized to fit the needs of any project.
1. Define clear examples of your focus areas
Focus areas are the broad topics that will be addressed in the Stakeholder Management Plan. Examples of focus areas may include stakeholder management, communication, relationship building, and risk management. It is important to define these focus areas clearly and ensure that they are in line with the project objectives.
2. Think about the objectives that could fall under that focus area
Objectives are specific goals that you want to achieve within each focus area. For example, under the focus area of stakeholder management, objectives could include understanding stakeholder needs and expectations as well as increasing stakeholder involvement.
3. Set measurable targets (KPIs) to tackle the objective
KPIs are measurable targets that can be used to track the progress of objectives. These KPIs should be set at the beginning of the project and should be regularly monitored and adjusted as needed. Examples of KPIs include capturing stakeholder requirements, increasing stakeholder participation, and reducing communication errors.
4. Implement related projects to achieve the KPIs
Projects are related activities that should be implemented to achieve the KPIs. For example, under the focus area of stakeholder management, projects could include gathering stakeholder requirements and identifying opportunities for stakeholder involvement. These projects should be well-defined and tracked to ensure that the objectives are being met.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
Cascade is a strategy execution platform that helps project managers and teams track and manage their strategies more effectively. Cascade’s intuitive and powerful features enable teams to quickly and easily monitor progress, adjust strategies as needed, and collaborate with stakeholders to ensure successful project outcomes.