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BSBPMG621 Facilitate Stakeholder Engagement

Assessment Task 1 – Questioning

Question 1
To improve the communication channels and improve the relationship between parties, it is
very important that stakeholders are engaged effectively. Also helps in the creation and
maintain the project and it helps to gather information and reduce the chance of conflict and
or issues related to the project. And also support the existing conflict and solve any problem
in the organization. Overall it enhances the organization’s reputation (O’Riordan & Fairbrass,
2014).

Question 2
Three methods commonly used in engagement models
Fixed price engagement model:
It’s also called a fixed bid or lump sum contract, it is most obvious. As we can see from the
name this model is all about fixing or freezing the project costs
It also helps in documenting all requirements in a careful way. Also, detail the project scope
and in setting up a timetable strictly. It’s all about predictability.
Our project scope and requirement and the end goal are must for the fixed priced models
(Day, et al., 2018).

Benefits:
Transparency: we can predict the budget transparency before the development of stars.
Time-saving: This method required less management and supervision as compared to other
methods.
Establishment of trust: It helps in establishing the trust between the partner.
Non-fixed price model: time and material
In a fixed price model time and material, it allows greater flexibility than a fixed price model.
When the market changes regularly and dynamically and the vision of the product is not clear and when the interference of tech. evolves rapidly. In that case, we can predict the final
project scope in an effective way.

Benefits Flexible: when it is about the budget of the project and scopes. In getting case it is extremely
flexible and effective for handling the request for changes and alterations.
Cheaper
These methods are cheaper for the client. The developer does not have to charge the risk to
the customer.
Risks are lower
Start quicker
Cost-plus method
It is mostly used for staffing or personal leasing, it is a process when one company lends its
specialists to another company for a specific period of time.
This means clients can borrow developers or quality engineers, etc. they can work there until
the competence of the project. they can hire them for their services.
Benefits
The cost-plus method helps to work cheaper, faster, and less risky. Also, it is less time-
consuming or wants less oversight. Also helps to maintain transparency.

Question 3
Fixed-price engagement model
Positive: Transparency: we can predict the budget transparency before the development of
stars.
Time-saving: This method required less management and supervision as compared to other
methods.
Establishment of trust: It helps in establishing the trust between the partner.

Negative:
High cost: All the risks are predicted and calculated in advance and check all things 2-3 times
including high cost.
No flexibility: there are little and less flexibility.
Non-fixed price model: time and material
Positive: Flexible: when it is about the budget of the project and scopes. In getting case it is
extremely flexible and effective for handling the request for changes and alterations.
Cheaper:
These methods are cheaper for the client. The developer does not have to charge the risk to
the customer.
Negative:
Time-consuming: It is the most time-consuming process. And it needs more oversight.
No guarantees: There are no rock-solid guarantees that projects are completed on time or not.
Discrepancy: it creates the discrepancy between project estimation and the real costs.
Cost-plus method
Positive: The cost-plus method helps to work cheaper, faster, and less risky. Also, it is less
time-consuming or wants less oversight. Also helps to maintain transparency.
Negative: it has a unique disadvantage; the client must warn 2-3 months in advance for
cancellation of service.

Question 4
Cohen-Bradford is a method of people influencing at that time when there is no authority
between two relationships. It is based on a concept of reciprocity, it is an approach that can
be effective it is an approach to getting what we want. It influences the reciprocity or a
common-law sense. It helps to influence those around them when there is an absence of
authority (Nguyen & Mohamed, 2018).

 

Question 5
It analyze the power and support of stakeholders. It helps and maps the stakeholder by their
power and support.
It is a grid of interest and power.
A matrix that supports and importance of stakeholders
The matrix influence and interest of stakeholders
Map the stakeholders by attitude and knowledge.
It is a tool from project management used by stakeholders to determine the necessary actions.
Align with their goals and project.

Question 6
By mapping, stakeholders serve and help to maintain the relationship between stakeholders
and the project of the company. It also helps in identifying the key stakeholders. It helps to
understand the relevance of stakeholders.

Question 7
Important for managers to assess the commitment and effectiveness of their stakeholders
To make commitments solid that is achievable.
Communication updates all groups.
Promises made with stakeholders (Bouma, 2015).

Question 8
It helps to improve the communications between stakeholders.
Identification of effective and powerful stakeholders helps to give shape to our project in its
early stages. It increases accountability, transparency, more ideas, and issue solving.

Question 9

We have to identify the stakeholders. It’s an early step for stakeholder management to
establish a stakeholder list.
We have to place the stakeholders on the interesting grid.
It motivates our stakeholders.
Also, build our strategy.

Question 10
Two ways of assessing stakeholders’ engagement
By questionnaires
We can engage our stakeholders with surveys or feedback. By survey, we can get a chance to
meet a large no. of people and also get different feedback from many people. This can be
done by email, via the web, face to face, or via phone.
By interviewing stakeholders
It is a very good way or opportunity to gather intelligence and information. Also, it is very
time-consuming. Through interviews, we can gather a lot of information which helps to
connect with stakeholders.

Question 11
We have to identify the stakeholders.
We have to get them involved. Align with them.
Known their needs
Get stakeholders taking
Try to understand.
Work with the team.

 

Question 12
For that, we have to reduce or lessen the risk of the project.
Manage and maintain the resources in a more effective way.
Make team collaboration.
Meet timelines.
Maintain trust and build it.
Make better relationships with stakeholders.
Make a map for stakeholders.

Question 13
Stakeholders are a very important part of the business. With them, no business can survive
long or not earn a profit. There must be effective policies and effective procedures in regard
to stakeholders. It helps an organization meet its desired objectives. And also, they help them
to contribute to the project. Stakeholders’ inputs are also an important factor in increasing the
quality.

Question 14
Stakeholders are a very important part of the business. With them, no business can survive
long or not earn a profit. They really support the business practices and also, they do financial
support. Stakeholders are people who are interested in our company. They are loyal to
customers and investors too. They are people who help where to invest the money. It
improved communication and also better management.

Question 15
Skills that need to demonstrate when interacting with stakeholders are
Communication: Effective and excellent communication help to build the relationship with
stakeholders. Leadership is also a good skill to demonstrate when interacting with stakeholders.

Question 16
Understand, compromise.

Question 17
It is very important for businesses to listen to and understand the feedback from stakeholders
also helps to give shape and improve the overall business operations. Their consultation is
used for the development of services and products generally (Dawkins, 2014).

Question 18
It is a quantitative investigation of it is a variance that comes with the difference between the
actual behavior and planned behavior. This technique is used to determine the cause. Also
give measures to maintain and control it.

Question 19
We can identify the variance by finding the mean, and to find or identify the mean, we have
to add all sources and then divide them by the. of scores.

I have to identify what stakeholders need and what they actually want we have to take care of
them because they are important to us I have to ask them what their needs are and ask them
for their feedback so we can take ideas from them. We have to identify them and noticed
them closely. Also, we can motivate them. Listen and understand what they saying, and also
we have to determine their motivation.

Part B: Facilitate Stakeholder Commitment
Stakeholder Engagement Assessment Matrix:

Stakeholder  Unaware  Resistant  Neutral  Supportive  Leading

Finance manager YES YES NO NO YES

Production team leader. YES YES YES YES NO

suppliers NO YES YES NO NO

HR manager YES NO YES YES YES

Sale manager YES YES NO YES YES

1. The methods for communication with stakeholders are:
Their engagement is really necessary for the company to achieve its goal.
We should identify the key stakeholder plan and communication.
Via email or newsletter
Or with communication automation
Via presentation also we can also give them a summary of project reports. Or via video call
or normal call.

2. The variance between the planned or actual engagement the reason maybe the maybe there
is a lack of communication between organizations and stakeholders or maybe we are not able
to provide information to them or not ask them for their feedback, Or maybe they also not
taking an interest this could be the reason for these variances ( Leonido, et al., 2020).

3. My expectation of every stakeholder is clear and I manage the stakeholders differently.
And keep stakeholders in a loop, share evidence and all research with them, and track their
sentiment.

4. We can identify their needs by talking with their communication or effective
communication is the best process to know what others thinking we can communicate to
them face to face, via video call, events, meetings, etc. we have to identify their interest and
actions. We have to maintain regular contact with them.

5. We have to identify the team’s capacity and workload.
We have to distribute the resources in the breakdown structure.
We have to check teamwork and adjust workloads according to need.
We have to improve the efficiency of the team.
We have to review our business goals with priorities.

6. I can take different communication methods to facilitate and achieve the organization’s
goal we can communicate with our stakeholders through video calls, phone calls, face to
meet. Communication helps to achieve our desired goal and also maintain our relationship
with our stakeholders.

7. At that time team need communications, leadership, adaptability, diligence, and
negotiation. We can be trained the employees to share our plan with them and take or give
feedback to give them value.

8. Finance manager is careless we have to give them training he is careless and not come in
meeting or share the idea we can talk with him, also the supplier has late delivery of raw
material we have to ask him for fast delivery. We can do communication in the breakdown
process, or we can create a communication plan, constraints resource.

 

References
Bouma, J. (2015, April). Timely injection of knowledge when interacting with stakeholders
and policy makers. In EGU General Assembly Conference Abstracts (p. 2620).
Dawkins, C. E. (2014). The principle of good faith: Toward substantive stakeholder
engagement. Journal of Business Ethics, 121(2), 283-295.
Day, S., Blumberg, M., Vu, T., Zhao, Y., Rennie, S., & Tucker, J. D. (2018). Stakeholder
engagement to inform HIV clinical trials: a systematic review of the evidence. Journal of the
International AIDS Society, 21, e25174.
Leonidou, E., Christofi, M., Vrontis, D., & Thrassou, A. (2020). An integrative framework of
stakeholder engagement for innovation management and entrepreneurship
development. Journal of Business Research, 119, 245-258.
Nguyen, T. S., & Mohamed, S. (2018). Stakeholder management in complex projects. In The
7th World Construction Symposium (pp. 497-506).
O’Riordan, L., & Fairbrass, J. (2014). Managing CSR stakeholder engagement: A new
conceptual framework. Journal of business ethics, 125(1), 121-145.