The PM Podcast Episode 372: Stakeholder Analysis Reduces Project Risk

 

This interview with Dr. David Hillson was recorded at the 2016 PMI Global Congress in San Diego, California. We discuss his paper and presentation My Stakeholders are my biggest risk -- help!. Here are two passages from the paper:

Abstract:

Stakeholders can pose a real risk to our projects—at least some of them can—and project managers and their teams need to be aware of this and take steps to control risks to their project that arise from risky stakeholders. As with all risks, stakeholders present both positive as well as negative risks, and we need robust ways of identifying which stakeholders offer opportunities, and where potential threats might lie.

This paper presents a structured way of identifying risky stakeholders based on a best-practice stakeholder analysis model (The Stakeholder Cube). It explains how risky stakeholders might influence a project based on their power, interest, and attitude. Finally, the paper shows how applied emotional literacy can be proactively used to influence risky stakeholders in order to optimize the outcome for the project.

Conclusion:

A risk is any uncertainty that could affect achievement of project objectives. Some of the biggest risks in projects arise from stakeholders, and project managers and their teams need to be aware of these risks and manage them proactively. As with all risks, there are both positive and negative stakeholders, and it is important to identify which stakeholders offer opportunities, and where potential threats might lie—and then act appropriately.

David is retiring and this was his last active participation at a PMI Global Congress in North America. He plans on continuing to attending the EMEA congresses and he has offered to be available for interviews over Skype in the future.

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