Chapter 3: Making IT Right: Managing Goals, Time, and Costs

What is the primary goal of stakeholder analysis in project management?

• To eliminate stakeholders who may oppose the project

• To understand stakeholder influence and interests to manage them effectively

• To delegate project decisions entirely to high-power stakeholders

• To create a list of all employees working on the project

What is the first step in stakeholder management?

• Assigning stakeholder roles

• Identifying and categorizing stakeholders

• Developing a risk mitigation strategy

• Conducting a post-project review

According to stakeholder analysis, which group requires the highest level of attention?

• High-power, high-interest stakeholders

• Low-power, low-interest stakeholders

• High-influence, low-power stakeholders

• Low-influence, high-power stakeholders

What is the recommended strategy for managing high-influence, low-power stakeholders?

• Keep them satisfied

• Ignore their concerns

• Keep them informed

• Assign them decision-making authority

Which of the following best describes the role of stakeholder clustering in project management?

• It helps in eliminating unnecessary stakeholders

• It helps prioritize stakeholder engagement based on power and interest

• It creates project roles for each stakeholder

• It focuses only on project sponsors

What is a key characteristic of low-influence, high-power stakeholders?

• They have significant control over project decisions

• They require constant engagement

• They should be informed regularly but not overly engaged

• They have no impact on the project

Which stakeholder management model maps actors and their goals to define strategies?

• RACI Matrix

• i* Model

• SWOT Analysis

• COCOMO Model

Why is it important to analyze stakeholder interests early in a project?

• To prevent project risks caused by stakeholder opposition

• To assign each stakeholder a project task

• To ensure only internal stakeholders are involved

• To make stakeholders responsible for all project failures

What is the best approach to managing stakeholders who have low power and low interest?

• Actively involve them in all decisions

• Monitor them but provide minimal communication

• Assign them a leadership role

• Ignore them completely

Which of the following is NOT a factor to consider when conducting stakeholder analysis?

• Stakeholder influence

• Stakeholder personal opinions on management styles

• Stakeholder interest in the project

• Stakeholder power in decision-making