Stakeholders in Project Management: Definition, Types & Examples
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Stakeholders in Project Management: Definition, Types & Examples

Your project’s success depends on the satisfaction of your stakeholders. Sometimes, you have completed the project; the client has accepted all deliverables. However, the project is not successful because some of your stakeholders are not happy.

Stakeholder satisfaction is the sign of successful project completion.

Now, you might be wondering who the stakeholders are and whom you have to satisfy for the successful completion of your project.

I am writing this blog post to answer these queries, and I hope to clear up any doubts you may have about project stakeholders

How to Identify Stakeholders in Project Management?
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How to Identify Stakeholders in Project Management?

Projects occur to fulfill the stakeholders’ requirements. If they are not happy, you cannot say that your project was a success. Project management is about managing stakeholders.

You want to complete your project with minimal obstruction. So, you must identify your project stakeholders at an early stage, and then engage with them throughout the project life-cycle.

You start the process of identifying stakeholders after the sponsor signs the project charter.

Cost-Benefit Analysis in Project Management

Cost-Benefit Analysis in Project Management

Today, we are going to discuss the Cost-Benefit Analysis, which is also known as Benefit-Cost Analysis. Cost benefit analysis in itself is a vast subject; however, in this blog post I’ll try to give you a general idea about the process.

I hope that once you go through it, you’ll have a basic understanding about this benefit measurement method.

Usually, these kinds of analyses are performed by high level stakeholders; e.g. top management, or an organization’s board members.

They sit together and analyze which project is more profitable to them and aligned with the organization’s objective, and then pick the best project.

PMBOK Process Groups and PMBOK Knowledge Areas

PMBOK Process Groups and PMBOK Knowledge Areas

When I started my PMP exam preparation, I had difficulty understanding the difference between a process group and a knowledge area. Every PMP aspirant is confused about this in their initial stage of preparation.

You may also wonder why the PMBOK is not organized according to process groups.

These questions bothered me also.

Now, I have passed the exam and I understand these issues. Therefore, I am writing this blog post to explain my knowledge to you.

Stakeholder Register in Project Management
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Stakeholder Register in Project Management

Your project is not successful if your stakeholders are not happy. Stakeholder satisfaction is essential for successful project completion.

According to the PMBOK Guide, “A stakeholder can be a person, a group, or an organization that may be affected, or have any interest in the project, or the project’s outcome; either directly or indirectly.”

What is a Stakeholder Register?
A stakeholder register is a project document that has information about the project stakeholders. It identifies the people, groups, and organizations that have any interest in the work and the outcome.

What is a Functional Organizational Structure?
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What is a Functional Organizational Structure?

Your working style depends on your organizational structure. The organizational structure defines your role and responsibilities and work culture. This culture includes work environment, reporting system, hierarchy, etc.

An organization can adapt to any structure as per their requirements. If they are dealing with the projects, they will choose a projectized organization. However, an organization dealing with operations will stick with a functional structure.

Every organizational structure has a different system.

In a projectized organizational structure, you report to the project manager. In a functional organizational structure, you report to a functional manager. In a matrix organizational structure, it depends.

What is a Projectized Organization Structure?
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What is a Projectized Organization Structure?

Organizations are having to adapt to stay profitable in this tough market, they must be results-oriented while improving their operations and working conditions.

Organizations must adapt to a suitable structure to achieve their business goals, whether that be a functional, projectized, matrix, or other type of structure.

I have discussed the matrix and functional structures in separate blog posts. Now we will discuss projectized organizations.

Please note that project and projectized are different terms. Projectized is classification for an organization that deals with projects; many experts call projectized organizations, project-oriented, or project-based organizations.