Balance stakeholders' interests by recommending approaches that strive for fair resolution in order to satisfy competing needs and objectives.
In the development of any project, one of the most important things that we must do is to accomplish the scope of the project. We have a professional responsibility to make sure that each of the agreed upon stakeholder's needs is met by the completion of the project. We must also take the responsibility of making the stakeholder aware that there may be better and less expensive ways of solving the same problem than how the stakeholder may have suggested doing it. It is an important responsibility of the project manager and the project team to consider all reasonable alternatives as possible solutions to project problems or as possible ways of achieving project goals.
To be able to do this properly we must be aware of the stakeholder's business and interests. In Chapter 7, Risk Management, we discussed stakeholder tolerance, which is the level of risk that the stakeholder is willing to take in the project. It is important that the project manager be able to assess the risk tolerance of the stakeholder so that the proper risk management plan can be worked out.
The stakeholder also must be considered in many other areas of project development as well as in risk management. The project manager and the project team probably know more about the current technology that the project will use. The project team then has a responsibility to keep the stakeholder informed about changes in technology that may affect the project, even if delays and changes in budget are necessary to use the new technology.
In all projects there will be conflicts that arise between participants. In the world of changing needs and expectations, conflicts will need to be resolved. Knowledge of the conflict resolution techniques, discussed in Chapter 5, Human Resources Management, is also the responsibility of the project manager. Negotiating and communications skills serve the project manager well in this area.
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What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.