Q:

What is a stakeholder map?

A:

A stakeholder map is a stakeholder management tool that identifies the stakeholders in a project or company, their interests, potential involvement in the project and the classification categories into which the stakeholders fall. Stakeholder maps are effective tools for project analysis. By correctly mapping stakeholders, the person in charge of a project can make sure that each person is adequately involved in project communication and decision making.

Stakeholder maps help to prioritize stakeholders by influence and participation in the project. To accomplish this, stakeholders must first be identified and named. After this, each stakeholder's interest in the project should be noted. Some stakeholders may have several interests in the project, such as funding, project content and project changes. Stakeholders with multiple interests may need to be classified as higher priority for communication purposes.

A stakeholder map notes what each stakeholder's involvement level in the project is, whether they take an active or passive role in the implementation of the project. By prioritizing stakeholders, the project manager can better facilitate the needs of each stakeholder in order of importance. This helps the manager to make sure that each stakeholder is adequately apprised of the progress of the project and receives the correct information to address that stakeholder's concerns.

Learn More

Related Questions

  • Q:

    How do you start a Roth IRA?

    A:

    Opening a Roth individual retirement account requires the owner to set aside money to put towards retirement savings, pick a financial institution to establish the Roth IRA account and satisfy the financial institution's new-account requirements, notes the Retire by 40 website. The owner can then choose an investment plan.

    Full Answer >
    Filed Under:
  • Q:

    What is FDI?

    A:

    FDI, the abbreviation for Foreign Direct Investment, refers to an investment into a company or entity by an entity that is based in a different country. FDIs typically grant the investing company a larger degree of control and influence compared to indirect investment methods.

    Full Answer >
    Filed Under:
  • Q:

    What is a primary market transaction?

    A:

    Primary market transactions involve purchasing new securities directly from issuers, according to MapsofWorld.com. Examples of such transactions include buying stocks and bonds directly from the company that issues such legal documents, as opposed to buying securities from a secondary market like a stockbroker.

    Full Answer >
    Filed Under:
  • Q:

    How do you cash in series EE U.S. savings bonds?

    A:

    Electronic EE savings bonds may be redeemed through the TreasuryDirect website. Paper bonds can be cashed at many banks. TreasuryDirect doesn't keep a list of participating banks and suggests contacting the bank directly. Photo identification is usually required.

    Full Answer >
    Filed Under:

Explore