All language subtitles for KU PMGT 840 Session 6 (Part A)- Stakeholder Identification and Analysis

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These are the user uploaded subtitles that are being translated: 1 00:00:01,680 --> 00:00:05,280 Hello everyone and welcome to Part A of Session 6 in Project Leadership. 2 00:00:05,600 --> 00:00:09,280 In this session, we will focus on one of the most important aspects of 3 00:00:09,280 --> 00:00:12,680 leadership in project management, that is leading project stakeholders. 4 00:00:13,280 --> 00:00:17,720 As a project leader, your ability to identify, understand, and engage 5 00:00:17,720 --> 00:00:21,320 stakeholders can significantly influence your project's success. 6 00:00:21,700 --> 00:00:26,160 This module will provide you with tools and strategies to manage a stakeholder's 7 00:00:26,160 --> 00:00:27,180 expectations effectively. 8 00:00:27,980 --> 00:00:32,439 Let's get started on exploring what it means to lead a stakeholder with clarity 9 00:00:32,439 --> 00:00:33,440 and purpose. 10 00:00:40,560 --> 00:00:44,620 In this part of the module, we will focus on identifying and analyzing 11 00:00:44,620 --> 00:00:46,600 stakeholders in a project setting. 12 00:00:47,180 --> 00:00:51,480 Understanding who your stakeholders are and what matters to them is the first 13 00:00:51,480 --> 00:00:52,960 step toward effective engagement. 14 00:00:57,420 --> 00:01:01,940 a project must consider the needs of everyone in touch, not just clients, but 15 00:01:01,940 --> 00:01:03,440 also users and other stakeholders. 16 00:01:03,880 --> 00:01:08,740 A stakeholder is anyone who uses the project's outcomes, is affected by the 17 00:01:08,740 --> 00:01:11,220 project, or can influence it in some way. 18 00:01:11,700 --> 00:01:16,140 Each stakeholder group brings a unique perspective and their level of power and 19 00:01:16,140 --> 00:01:17,640 interest can vary widely. 20 00:01:18,020 --> 00:01:22,680 That's why identifying them correctly from the start is essential for a strong 21 00:01:22,680 --> 00:01:25,000 stakeholder engagement throughout the project. 22 00:01:27,850 --> 00:01:32,130 When identifying the stakeholders, a useful question to ask is who will be 23 00:01:32,130 --> 00:01:34,910 affected by or could impact this project. 24 00:01:36,010 --> 00:01:40,150 Stakeholders can come from inside or outside the organization and may have 25 00:01:40,150 --> 00:01:41,890 different roles and levels of influence. 26 00:01:42,470 --> 00:01:47,730 For example, internal stakeholders include the sponsor, project manager, 27 00:01:47,730 --> 00:01:48,568 team members. 28 00:01:48,570 --> 00:01:53,270 On the other hand, external stakeholders might be vendors, clients, regulators, 29 00:01:53,630 --> 00:01:54,730 or even the public. 30 00:01:56,320 --> 00:02:00,100 Recognizing the full range of stakeholders early can help you plan 31 00:02:00,100 --> 00:02:02,000 engagement strategies later on. 32 00:02:06,080 --> 00:02:10,560 Stakeholder identification usually happens early in the project and is 33 00:02:10,560 --> 00:02:11,920 tied to the initiating stage. 34 00:02:12,360 --> 00:02:16,340 The name of key stakeholders are formally documented in the project 35 00:02:16,760 --> 00:02:21,320 Later, during the planning phase, this list is reviewed again and expanded to 36 00:02:21,320 --> 00:02:23,360 support effective communication and engagement. 37 00:02:24,240 --> 00:02:28,720 At this stage, we also begin to outline strategies for how we will interact with 38 00:02:28,720 --> 00:02:29,760 each stakeholder group. 39 00:02:30,360 --> 00:02:34,860 The most important outcomes of this process is the stakeholder register, 40 00:02:34,860 --> 00:02:38,380 becomes a vital tool for tracking and managing the stakeholders' involvement 41 00:02:38,380 --> 00:02:39,600 throughout the project. 42 00:02:43,160 --> 00:02:47,580 Analyzing and prioritizing a stakeholder is a critical step in managing a 43 00:02:47,580 --> 00:02:48,580 project successfully. 44 00:02:49,130 --> 00:02:53,750 It helps us recognize who needs attention, how to engage them, and how 45 00:02:53,750 --> 00:02:55,390 respond to their needs and concerns. 46 00:02:55,770 --> 00:03:00,270 A great way to clarify rules and responsibilities is by using the RACI 47 00:03:00,730 --> 00:03:05,370 This tool helps us define who is responsible for doing the work, who is 48 00:03:05,370 --> 00:03:09,650 accountable for final decisions, who must be consulted, and who should be 49 00:03:09,650 --> 00:03:15,090 informed. Clear rule definitions lead to fewer misunderstandings and also a 50 00:03:15,090 --> 00:03:17,310 smoother collaboration throughout the project. 51 00:03:19,910 --> 00:03:24,670 1. Now let's look at a real -world example of how stakeholder rules can be 52 00:03:24,670 --> 00:03:25,870 mapped using a RACI matrix. 53 00:03:26,270 --> 00:03:30,570 In this case, the project is to design and launch an official website that 54 00:03:30,570 --> 00:03:32,950 showcases services and engages customers. 55 00:03:33,450 --> 00:03:38,290 Each task, like defining objectives, writing content, or launching the 56 00:03:38,530 --> 00:03:43,610 has specific stakeholders who are responsible, accountable, consulted, or 57 00:03:43,610 --> 00:03:44,610 informed. 58 00:03:44,680 --> 00:03:49,200 For example, the sponsor approves key decisions while the web developer leads 59 00:03:49,200 --> 00:03:50,200 technical implementation. 60 00:03:50,820 --> 00:03:55,760 As you can see, this table helps us see how stakeholder roles are clearly 61 00:03:55,760 --> 00:03:58,100 distributed across the project lifecycle. 62 00:03:58,640 --> 00:04:03,120 This minimizes confusion and improves coordination throughout the project 63 00:04:03,120 --> 00:04:04,120 lifecycle. 64 00:04:05,080 --> 00:04:10,980 One helpful way to analyze the stakeholders is by using the power 65 00:04:11,550 --> 00:04:15,550 This tool helps us categorize the stakeholders based on two key factors. 66 00:04:15,890 --> 00:04:20,250 First, how much power they have to influence the project. And second, how 67 00:04:20,250 --> 00:04:22,330 interested they are in the project outcomes. 68 00:04:22,990 --> 00:04:27,630 Once we place each stakeholder in the appropriate quadrant, we can decide on 69 00:04:27,630 --> 00:04:28,690 best engagement strategy. 70 00:04:29,330 --> 00:04:34,230 For example, stakeholders with high power and high interest should be 71 00:04:34,230 --> 00:04:35,230 closely. 72 00:04:35,340 --> 00:04:40,260 By contrast, those with low power and low interest may only need occasional 73 00:04:40,260 --> 00:04:41,260 monitoring. 74 00:04:44,300 --> 00:04:49,040 And now we can flash back to our earlier example by applying the power interest 75 00:04:49,040 --> 00:04:52,520 grid to define engagement strategies for each stakeholder. 76 00:04:53,320 --> 00:04:58,360 As you can see, the project manager and sponsor both have high power and high 77 00:04:58,360 --> 00:05:02,720 interest, so they need to be managed closely and involved in key decisions. 78 00:05:03,470 --> 00:05:08,650 The CEO has high power but lower interest, which means we should keep 79 00:05:08,650 --> 00:05:10,710 satisfied with milestone updates. 80 00:05:11,610 --> 00:05:16,190 Stakeholders like marketing manager or content writer are in the keep informed 81 00:05:16,190 --> 00:05:21,190 group and the IT manager is involved only when technical validation is 82 00:05:21,530 --> 00:05:27,130 And that chart on the right helps us visualize where each stakeholder falls 83 00:05:27,130 --> 00:05:29,010 how we can engage them most effectively. 84 00:05:32,490 --> 00:05:37,610 This example tells the story of Emma, a seasoned project manager tasked with 85 00:05:37,610 --> 00:05:40,050 leading the construction of a regional hospital. 86 00:05:40,430 --> 00:05:44,890 She understood that effective stakeholder engagement would be critical 87 00:05:44,890 --> 00:05:45,890 project's success. 88 00:05:46,290 --> 00:05:50,810 Emma used key questions and tools like the stakeholder register and power 89 00:05:50,810 --> 00:05:52,810 interest grid to guide her analysis. 90 00:05:53,850 --> 00:05:58,090 Stakeholders with high power and interest, such as the health department, 91 00:05:58,090 --> 00:05:59,730 engaged through regular meetings. 92 00:06:00,360 --> 00:06:05,220 Meanwhile, the local community with lower power but high interest received 93 00:06:05,220 --> 00:06:07,240 public updates to stay informed. 94 00:06:07,820 --> 00:06:12,760 By customizing care approach for each group, Emma helped build trust, reduce 95 00:06:12,760 --> 00:06:15,700 delays, and support the shared vision for the hospital. 96 00:06:20,110 --> 00:06:24,030 And that brings us to the end of part A. Thank you very much again for watching 97 00:06:24,030 --> 00:06:28,090 this video. And if you have any questions, please feel free to reach 98 00:06:28,090 --> 00:06:30,370 an email, or post it on the discussion board. 8934

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