What is Stakeholder Engagement Planning?
Stakeholder Engagement Planning Template is a systematic approach of identifying, implementing and organizing a design to draw the attention of the stakeholders and bring them under a single page to work for the project. Stakeholders are important assets of a business plan as they are the core investors. The influence of the strength of the stakeholders sets the direction of the project also, helps in the execution of a plan. Active participation of the stakeholder adds substance to the plan.
- Stakeholder Engagement Action Plan
- Stakeholder Engagement Process Steps
- RACI Matrix
- Stakeholder Analysis Planning
You can read a stakeholder’s related article and also get the template: Stakeholder Register Template Excel
Stakeholder Engagement Planning Template can be explained by these 3 parts mentioned below;
Set the criteria for the selection of the stakeholder. Check if the stakeholder is somehow related to the nature of the project and give better direction to the project. With the influence of stakeholders, you can carry out the activities in a better way. They also help to manage the communication system with the other parties.
Interaction with Stakeholders:
The next step is to figure out how you want to involve the stakeholder. Look for ways to engage the identified stakeholder in the planning and the implementation of the business plan. This is how you’ll get to know how the stakeholder is going to deal with the time of crisis in the project or react to the success of the plan.
Stakeholder Engagement Plan:
Now make a plan; finalize the events or activities in which you will look upon the share or engagement of the stakeholder. Set meetings with the stakeholder to communicate, share ideas with them, and get advice on the important matters of the project. Define the mode of communication already either one-to-one meetings or email/phone calls etc. Also, mark the days of availability of the stakeholder and plan accordingly.
You can read a Project Management related article and also get the template: Project Management Transition Plan Template
Who engaged in the strategic planning process?
Key persons and stakeholders who have a keen interest in the company’s success are engaged in strategic planning for the productive project progress. They include every person who is attached directly or indirectly with the project for the success and betterment of the organization e.g., partners, owners, employees, team line members, contractors, vendors, suppliers, shippers, customers, supply chain partners, regulatory authorities, security agencies and other persons who are dependent o organization internally and externally as well. Employees are the main assets of organizations and have deep knowledge and a keen sense of their official territory’s strengths and weaknesses.
You can read a Project Management related article and also get the template: Team Resource Planning Template
Stakeholder Engagement Planning through RACI Matrix?
RACI is an acronym with the following description.
R stands for Responsible
The one responsible to perform activities and tasks, as per the plan also works on the implementation of the plan. Responsibility can be of different grades and is defined by the accountable person. The role assigned can be shared as well.
Stands for Accountable
The person who has the authority to accept or reject a matter. Responsibility can be shared but not accountable.
C stands for Consulted
The person who is required for the consultation before the execution of the task. After consultation finals decisions are made. It’s a 2-way communication process.
I stand for informed
The person who is informed after taking a particular action or decision. It is a one-way communication system.
In short RACI matrix is used for the quick analysis of the engagement and responsibility of the stakeholder. You can set up rows and columns as per the requirement of your plan. As soon as the matrix is complete, responsibility or role distribution becomes easier. And the potential can be determined by analyzing the matrix. RACI is a simple model and project managers can incorporate this model into their management to gain clarity about the role and eliminate underlying possible confusion. Also, define the mode of communication between the stakeholders and the other operating team. The communication gap hinders the progress of the project.
Create Stakeholder Analysis Planning according to PMP
Stakeholder Engagement Planning Template provides benefits to your project. Stakeholder analysis helps to shape your project’s path and get an idea about the strengths of the stakeholder. It overall improves the quality of your project management. Getting stakeholders on the panel can create influence, are assets that can indirectly help you to gain profitable resources. Having good communication with the stakeholders can provide a better understanding to the other employees.
You can read a Project Management related article and also get the template: Employee Performance Plan Template
You can create a comprehensive stakeholder analysis plan by following these easy steps;
- Look for suitable stakeholders that will add value to your project. Choose the stakeholder that can influence other contractors or investors to join the project.
- Prioritize your stakeholder depending upon the influence and interest they have in the project. Best suitable options are shortlisted.
Knowing the importance of your key stakeholders will help you to keep up with the progress of the project.
You can read a Project Management related article and also get the template: Workload Management Template
Frequently Asked Questions Answers
Q.1. Why Stakeholder Engagement Planning?
Ans. The main purpose of stakeholder engagement planning is to manage the interaction of the stakeholders for completing all activities smoothly throughout the project life cycle.
You can read a Project Life Cycle related article and also get the templates: Project Management Life Cycle TEmplate
Q.2. How to control the stakeholder engagements?
Ans. Different strategies can be used to control the stakeholder engagement in a project, monitoring & tracking all aspects of a project, maintaining a healthy and productive relationship among all stakeholders, making sure stakeholders’ commitment, and tracing future issues.
Q.3. Is there any renewal fee or up-gradation charges on projectemplates’ products?
Ans. No, There’s only a one-time purchase, you are not supposed to pay any penny after in this regard.