Introduction:
A stakeholder is an individual, group, or entity interested in a company because its activities impact them or have the potential to do so. Stakeholder management manages these relationships to align stakeholders' needs and potential contributions with the organization's goals.
This course offers insights into stakeholder management and provides the necessary skills to execute it effectively. Participants will learn about effective stakeholder management through hands-on experiences applying a stakeholder management plan.
Discover the meaning of stakeholder management and leverage stakeholder management tools to engage and manage stakeholders effectively. By understanding the definition of stakeholder management and utilizing best practices, participants will master the stakeholder management process, including internal stakeholder management.
This Stakeholder management training is integral to learning how to manage various stakeholder groups and implement stakeholder management strategies within any stakeholder management system. Recognizing why stakeholder management is important will help you appreciate its advantages. It is an important step towards achieving a practical approach to stakeholder management and realizing its benefits.
Targeted Groups:
- Senior leaders and managers.
- Novice supervisors and managers.
- Competent supervisors and employees, especially those in HR and finance.
- Individuals who need to understand stakeholder involvement.
- People are participating in transformational initiatives.
- PMO, project, and program staff.
Course Objectives:
At the end of this stakeholder management course, participants will be able to:
- Understand the importance of stakeholder management in project success.
- Identify and categorize stakeholders effectively.
- Analyze stakeholder needs, expectations, and influence.
- Develop effective communication strategies for different stakeholder groups.
- Create and implement a stakeholder management plan.
- Utilize tools and techniques for stakeholder engagement and management.
- Resolve conflicts and manage stakeholder relationships.
- Monitor and evaluate stakeholder engagement activities.
- Enhance negotiation and influencing skills for managing stakeholders.
- Ensure alignment of stakeholder objectives with project goals.
Targeted Competencies:
By the end of this stakeholder management training, participants' competencies will:
- Stakeholder Identification.
- Stakeholder Analysis.
- Communication Strategy.
- Conflict Resolution.
- Relationship Management.
- Engagement Techniques.
- Negotiation Skills.
- Influence and Persuasion.
- Project Alignment.
- Performance Monitoring.
What is Stakeholder Management?
Stakeholder management involves systematically identifying, analyzing, planning, and implementing actions to engage stakeholders. It aims to build positive relationships with individuals or groups that can impact or be impacted by organizational activities.
Why is Stakeholder Management Important?
The importance of stakeholder management cannot be overstated. It leads to improved outcomes, ensures stakeholders' voices are heard in decision-making, and boosts project success and sustainability. Understanding the importance of stakeholder management allows for the creation of best practices for stakeholder management and the application of insights from case study scenarios. Professionals will take on stakeholder management responsibilities more effectively, employing tools and techniques.
Course Content:
Unit 1: Stakeholder Management Processes and Documentation:
- Describe how to identify and prioritize stakeholders, as well as how to understand their expectations.
- Create and distribute communications that encourage stakeholder engagement.
- Display an understanding of personality and behavior when managing stakeholder expectations and objectives.
- Present instances of cultural expressions and their impact on stakeholder perspectives.
- Conduct effective negotiations using ethical negotiating strategies.
Unit 2: Initiating Stakeholder Engagement:
- Overview of stakeholder management and engagement.
- The process of stakeholder inclusion and critical documents.
- Identify stakeholders.
- Create and evaluate stakeholder profiles and produce the stakeholder register.
- Assess positive and adverse interests.
- Analyze the gap between required and current stakeholder perceptions.
- Choose an Appropriate Stakeholder Management Strategy.
Unit 3: Crafting an Effective Communication Strategy:
- Prepare for stakeholder engagement communications.
- Identify and communicate key messages.
- Develop stakeholder communications.
- Organize and conduct stakeholder meetings.
- Address and escalate stakeholder concerns to higher management.
Unit 4: Communication Techniques for Stakeholder Management:
- Use empathy to foster stakeholder relationships.
- The foundation of trust in successful partnerships.
- Understand the differences between influence, persuasion, and manipulation.
- The impact of personality on stakeholder management.
- Behavioral interpretation of personality.
- Influence without formal authority.
- The role of emotional intelligence in stakeholder management.
Unit 5: Strategic Negotiation Skills
- The context and atmosphere of negotiations.
- Understanding reservation points, possible agreement zones, and best alternatives to negotiated agreements.
- Soft versus brutal negotiation tactics.
- Normative bargaining, active strategies, and critical choices.
- Protocols and procedures for negotiations.
- Techniques and tools for negotiation.
- Direction and control in negotiations.
Unit 6: Cultural Influence on Stakeholder Engagement and Management
- What does culture signify within an organization?
- Culture of a division or business unit.
- Communicating across different cultural backgrounds.
- Negotiating with various cultural groups.
- Course recap and the awarding of certificates.
Unit 7: The Rewards of Effective Stakeholder Management:
- The advantages of stakeholder management include better risk mitigation, more robust community relations, and increased project support.
- The benefits of stakeholder management extend to all aspects of an organization, promoting collaboration and trust.
- Applying stakeholder management principles ensures a balanced approach to engaging with all interested parties.
Conclusion:
This stakeholder management training course will empower participants to understand, plan, and execute strategies for effectively managing stakeholders and driving organizational success ethically and inclusively.
