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Project stakeholder management is a critical component for project success

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Project stakeholder management is a critical component for project success. Whether the stakeholders are individuals, groups, or organizations, understanding each stakeholder's needs and how they understand the project objectives will result in a more accurate scope and successful project.

Use this reading (linked in Resources) to consider the influence stakeholders have on project success and outcomes:

• Kerzner, H. R. (2017). Project management: A systems approach to planning, scheduling, and controlling (12th ed.). Hoboken, NJ: Wiley.
  • Section 10.6, "Stakeholder Relations Management," pages 329–335.

In 3–4 paragraphs, consider these questions and respond to the following:

• Which stakeholders would you consider powerful, and who are not?
• Which stakeholders have or require direct or indirect involvement?
• Which stakeholders have the power to cancel the project?
• What is the urgency of the project deliverables?
• How much information is required based on the stakeholder?
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• COMPETITIVE ADVANTAGE

  The following resources will help you complete this discussion and may be useful in completing your second assignment:
  • In Strategic Management, read:
    • Chapter 5, "Competitive Advantage, Firm Performance, and Business Models."
  • The following required readings are available full-text in the Capella University Library. Search for each article by clicking the linked title and following the instructions in the Library Guide:
    • Johnson, M. W., Christensen, C. M., & Kagermann, H. (2008). Reinventing your business model. Harvard Business Review, 86(12), 50–59.
    • Kaplan, R. S., & Norton, D. P. (1992) The balanced scorecard: Measures that drive performance. Harvard Business Review, 70(1), 71–79.

  DISCUSSION INSTRUCTIONS

  The focus of strategic management activities is to gain and sustain competitive advantage over competitors. Competitive advantage is related to firm performance and key performance indicators such as accounting profitability, shareholder value creation, and economic value creation. Use the discussion resources and your own research to support your statements. Follow APA guidelines for all citations and references.For the company you have selected to use in this course:
  • Identify a meaningful measure of performance for the company.
  • Identify key competitors.
  • Briefly explain how the company uses its business model to gain and sustain competitive advantage. What are the key elements of the business model to consider?
  • Relate these concepts to your career growth. Why not create a personal SWOT analysis. Give some thought to these areas throughout your program. Uncover opportunities to capitalize on your talents and further develop others that can set you apart from your colleagues.
  See the MBA Program Resources for guidance on getting started with business research.