stakeholder-management

Vocabulary Word

Definition

When we say 'stakeholder-management,' we mean looking after the people who have an interest in a project or can impact it in any sort of way. It's like managing a team where everybody has different priorities and targets.

Examples in Different Contexts

In project management, stakeholder management involves identifying, understanding, and influencing those who have an interest in the project, to ensure its success. A project manager might say, 'Effective stakeholder management is crucial for gaining support, navigating challenges, and achieving project objectives.'

Practice Scenarios

Public-Policy

Scenario:

There's strong public opinion against our latest policy proposal. We need to ensure a balanced viewpoint to reduce backlash.

Response:

I agree, fine-tuning our stakeholder management approach to encompass a wider range of perspectives could possibly neutralize some of the negative response.

Business

Scenario:

We have a detailed product release plan, but some team members are concerned about lacking customer insight. Any thoughts on how we could address this?

Response:

To address these concerns, a robust stakeholder management plan might be needed, emphasizing direct client engagement.