Stakeholders can be defined as a person or group that has an affect or is affected by the company's project (Larson & Gray, 2014). The project stakeholders for the District 4 move project are:
- Investors and/or creditors
- Company employee
- Contractors which include East Side Framing, Sparks Electrical, Waterworks Plumbing, Woodcraft Carpentry, Movers, and Student Workers
- Local and state government official which include City and County inspection team
- Local community because this type of business will produce jobs, provide a boost to the local economy, and possibly use the resources of the community. It can also have an effect on traffic increasing travel times.
- Environmental agencies
- Customers
- Suppliers
Effective stakeholder management requires effective communication. There are three types of communication which is traditional reporting, project relations, and direct communication (SHM, 2016). Reporting demonstrates you are running the project properly. It shows that a project manager is conforming to expectations. Some traditional reporting examples are project status reports, minutes from meeting, reports to shareholders or board of directors, and government mandated report such as safety reports (SHM, 2016). Project relations or PR includes all the broadcast type communications needed to provide information about the current project to a bigger stakeholder community (SHM, 2016). An effective PR campaign can build enthusiasm and high level of recognition for the project and the deliverables. It will also help the project reduce negative impressions which can lower the levels of opposition for the project. The last is direct communication. Direct communication needs to be focused on the important stakeholders and it is set up for a specific effect (SHM, 2016). This type of communication can provide direction for your employees, contractors, and suppliers.
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Stakeholders
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Type of Communication
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Examples
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Reasons
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Investors/Creditors
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Reporting
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Financial and Budget Reports
Project Status Reports
Milestones Achieved Report
Meetings to Brief Reports
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Keeps the investors/creditors informed about the financial state of the project. They have an idea of how their money is being used.
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Company Employees
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Reporting and Direct
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All Reports
Direction to complete the project plan
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Keep all employees up to date of the project and gives them guidance on how to complete their part.
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Contractors
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Direct
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Project Plan and direction to complete the plan
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Gives them specific guidance on how the job needs to be completed within building codes.
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Government Officials
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Reporting
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All Mandates Reports
Safety Reports
Audit Reports
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Give officials all information to ensure the project is not violating any laws. Many of these reports are mandatory.
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Community
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Project Relations and Reports
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Social Media, Town Hall Meetings
Minutes from Town Hall
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Keeps the community informed and energized about the project. Let's the community know how the company is making an impact and bettering the community.
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Environmental Agencies
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Reporting and Project Relations
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Safety Reports and Environmental Reports
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Ensures the project is following all regulations. Gets these agencies to back the company rather than attack the company.
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Customers
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Project Relations
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Social Media
Newsletters
Media Coverage
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Keeps our customers informed about the changes the company is going through. Builds excitement.
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Suppliers
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Direct
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Purchase request and delivery plans
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Gives the suppliers specific guidance on what supplies are needed and will be needed in the future.
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Must be original work using APA guidelines. One strong paragraph per question. (3) questions
1. How does the community fit in as a stakeholder management, as negative or positive stakeholders of a project? Such as environmental groups, government regulatory, etc.
2. What ways can reporting be done to executives and even employees which may not be considered traditional?
3. How might you accommodate your reporting depending on how a person understands the best? Why?