Learn about the critical process of stakeholder identification in project management and how it fits into the broader stakeholder analysis framework for the CAPM certification exam.
Table of Contents
Question
What is the process of determining the stakeholders impacted by a business problem or opportunity?
A. Stakeholder analysis
B. Stakeholder requirement
C. Stakeholder characteristics
D. Stakeholder identification
Answer
D. Stakeholder identification
Explanation
Stakeholder identification is the crucial first step in the overall stakeholder analysis process. It involves systematically identifying and listing out all potential individuals, groups, or organizations that could impact or be impacted by a project or business initiative.
The goal is to cast a wide net upfront to ensure no key stakeholders are overlooked. This initial identification is then followed by a more detailed assessment of each stakeholder’s characteristics, interests, influence, and potential impact on project outcomes. This enables prioritization of stakeholders and development of tailored engagement and communication strategies.
Some key aspects to consider in stakeholder identification:
- Internal stakeholders (executives, functional managers, employees, etc.)
- External stakeholders (customers, suppliers, regulators, community groups, etc.)
- Stakeholders who can impact the project through decision-making authority or influence
- Stakeholders who will be impacted by the project outcomes, positively or negatively
- Stakeholders with particular interests or requirements that need to be understood and managed
So in summary, stakeholder identification, as the critical first step in stakeholder analysis, provides the foundation for effectively managing stakeholder relationships and alignment throughout the project lifecycle. The other options listed – stakeholder requirements, characteristics and overall analysis – are all important subsequent steps that flow from first systematically identifying all relevant stakeholder groups.
PMI CAPM certification exam practice question and answer (Q&A) dump with detail explanation and reference available free, helpful to pass the PMI CAPM exam and earn PMI CAPM certification.