What is Stakeholder Management? Project Management in Under 5

The video tutorial explains stakeholder management, emphasizing the shift towards stakeholder engagement. It defines stakeholders as anyone with an interest in a project and outlines a five-step process for effective engagement: identify, analyze, plan, act, and review. The importance of respectful dialogue and understanding stakeholders' needs is highlighted. The tutorial concludes with personal insights on the significance of stakeholder engagement in project success.

What is the main reason for the shift from stakeholder management to stakeholder engagement?

• Stakeholder engagement is less time-consuming.

• Stakeholder engagement is seen as more respectful.

• Stakeholder management is more efficient.

• Stakeholder management is outdated.

What is the primary goal of stakeholder engagement management?

• To control stakeholders' actions.

• To enter into a respectful dialogue with stakeholders.

• To ignore stakeholders' opinions.

• To manage stakeholders' fears.

Which of the following is NOT a step in the five-step process of stakeholder engagement?

• Negotiate

• Analyze

• Review

• Identify

Why is it important to consider both internal and external stakeholders?

• Internal stakeholders are not affected by the project.

• External stakeholders are more important.

• Internal stakeholders are less involved.

• Ignoring external stakeholders can lead to mistakes.

What is often said to be 80% of project management?

• Execution

• Planning

• Communication

• Risk Management

According to the speaker, what is the way sophisticated adults do projects?

• Time Management

• Budget Management

• Risk Management

• Stakeholder Engagement

What is the consequence if stakeholders do not accept your project?

• The project will be delayed.

• The project will be over budget.

• The project will be deemed a failure.

• The project will succeed regardless.