Describe the project management framework by providing example of stakeholder?

Answer 1

Who are the Project Stakeholders?

Project stakeholders are individuals and organizations whose interests are affected (positively or negatively) by the project execution and completion. In other words, a project stakeholder has something to gain from the project or lose to the project. Accordingly, the stakeholders fall into two categories-positive stakeholders, who will normally benefit from the success of the project, and negative stakeholders, who see some form of disadvantage coming from the project. The implications obviously are that the positive stakeholders would like to see the project succeed and the negative stakeholder's would be happy if the project was delayed or even better cancelled.

Identifying all the project stakeholders might be a difficult task, but the following are the obvious stakeholders in any project:

Project Sponsor

Project Manager

PMO

Project Team

Program Manager (If Applicable)

Portfolio Manager (If Applicable)

Portfolio Review Board

Functional Manager

Operational Management

Sellers

Business Partners

Customers

Project Management Knowledge Areas

Managing projects requires applying knowledge, skills, and tools and techniques to project activities in order to meet the project objectives. You do this by performing some processes at various stages of the project, as discussed in the previous chapter. That means processes are part of the knowledge required to manage projects. Each aspect of a project is managed by using the corresponding knowledge area. For example, each project has a scope that needs to be managed, and the knowledge required to manage scope is in the knowledge area called project scope management. To perform the project work within the project scope, you need human resources, which need to be managed; the knowledge used to manage human resources is called human resource management.

I guess, by now you have a fair idea of where we are getting to.

Each process belongs to one of the nine knowledge areas:

1. Scope Management

2. Time Management

3. Cost Management

4. Human Resource Management

5. Procurement Management

6. Risk Management

7. Quality Management

8. Integration Management &

9. Communication Management

Each knowledge area has its own place in the project lifecycle and they are all equally important from a project managers point of view. In practical experience you might fine one or more areas to have a greater impact on the outcome of the project, but nonetheless they are all important and play a vital role in the success or failure of a project.