What is a Stakeholder Management Strategy?
A stakeholder management strategy is a plan for engaging with stakeholders in order to effectively manage their expectations and interests. It involves understanding the needs, goals and objectives of stakeholders, communicating with them, and making sure their voices are heard and taken into account when making decisions. The strategy should also include a plan for resolving any disputes or disagreements that may arise between stakeholders.
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 strategy template is designed for project managers and teams across all industries to identify, analyze, and manage stakeholders throughout a project lifecycle. The template provides a clear structure for each step of the planning process and assigns measurable targets (KPIs) to each objective. This ensures that the objectives are met and that the project is successful.
1. Define clear examples of your focus areas
A focus area is a broad area of work or activity that is integral to the success of a project. In this stakeholder management template, the focus areas are: Identify & Analyze Stakeholders, Manage Stakeholder Communications, and Monitor & Respond to Stakeholder Needs. Each focus area has a set of objectives that need to be achieved in order to complete the project.
2. Think about the objectives that could fall under that focus area
Objectives are specific goals that need to be achieved in order to complete the focus area. For example, under the focus area 'Identify & Analyze Stakeholders', the objectives could be to identify stakeholders and analyze their needs. Under the focus area 'Manage Stakeholder Communications', the objectives could be to establish stakeholder communications and to monitor stakeholder feedback.
3. Set measurable targets (KPIs) to tackle the objective
KPIs (Key Performance Indicators) are measurable targets that need to be achieved in order to successfully complete the objective. For example, under the objective 'Identify stakeholders', the KPI could be to identify 5 stakeholders in the project timeframe. Under the objective 'Analyze stakeholder needs', the KPI could be to gather 2 sets of stakeholder data.
4. Implement related projects to achieve the KPIs
A project (or action) is a set of initiatives that need to be completed in order to achieve the KPI. For example, under the KPI 'Identify 5 stakeholders in the project timeframe', the related project could be to analyze stakeholders. Under the KPI 'Gather 2 sets of stakeholder data', the related project could be to research stakeholder needs.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
Cascade Strategy Execution Platform enables project managers and teams to manage their strategies, track progress, and measure success. It allows teams to rapidly develop and implement strategies, track progress, and measure success in real-time. Cascade's intuitive user interface and powerful analytics provide teams with the insights they need to reach their goals faster and with greater accuracy.