BUS 528 Week 3 Assignment A-1

Assignment A-1
Chapter 3 ideas - Project Stakeholders.

Project consist of stakeholders - person involved in project. Most of the team, it's a group or team effort. Therefore it's important to pay attention on the Stakeholders relationship management to help:

1. Increase the success rate of the project.
2. Provide some cushion to weather the inevitable storms that occur on every project.
3. Provide an environment which is personally satisfying
4. Reducing project cycle time by keeping it from being bogged down in politics.
5. Streamlining the approval process.
6. Helping to ensure that project resources are available and remain focused.
7. Keeping information flowing.

4 steps involved in stakeholder managment :
1. Identify our project stakeholders
2. Collect and Analyze information about the stakeholders
3. Use that analysis to develop relationship strategies
4. Manage the ongoing relationships with the stakeholder

Responsible, accountable, consulted, and informed (RACI) is a great tool to identify the key stakeholders by level of project involvement and responsibility. These stakeholders are defined as follows:
1. Responsible - person is responsible for completing a task.
2. Accountable - person will be called to account if the task is not completed and may manage the person who is responsible for completing the task.
3. Consulted - person that consulted about aspects of the task (advisor)
4. Informed - The holder of this passive role is kept informed only.