Week 3 – Working effectively with stakeholders

 

1. Which of the following responsibilities does project management include?

Answers

·        Apply technical expertise to execute the project’s day-to-day tasks

·        Oversee the scope, schedule, budget, and quality of a project

·        Sign off on budget and resources

·        Ensure that the business meets its overall objective

Explanation: These tasks, when taken together, help ensure that a project is finished on schedule, without going over its allotted budget, and in accordance with the requirements set out for its scope and quality. The management of projects is an ever-evolving profession that requires efficient planning, coordination, and communication throughout the whole lifespan of the project.

2. Which three of the following responsibilities can belong to the project sponsor?

Answers

·        Ensure that the project delivers the agreed upon value to the business.

·        Play a key leadership role throughout the project.

·        Plan and organize the project.

·        Fund the project.

Explanation: Although these are three of the most typical roles of a project sponsor, it is essential to keep in mind that the particular obligations may differ from one company to another and from one kind of project to another. In addition to this, project sponsors are often engaged in the decision-making process, the management of risks, and the communication with stakeholders, amongst other areas of project governance.

3. Which stakeholders benefit directly (not indirectly) from a project’s success? Select all that apply.

Answers

·        Secondary stakeholders

·        Key players

·        Primary stakeholders

·        Minor players

 

4. Who uses technical and interpersonal skills to carry out day-to-day project tasks?

Answers

·        Project team members

·        Project manager.

·        Secondary stakeholders

·        Project sponsor

Explanation: The Project Manager is the job that often makes use of both technical and interpersonal abilities in order to carry out the day-to-day responsibilities associated with the project.

Project Managers are accountable for monitoring the whole of the project lifecycle, beginning with the project's inception and ending with its conclusion. They are very important in the process of planning, carrying out, monitoring, and completing projects. Project managers need a combination of technical skills related to project management methodologies, tools, and processes, as well as strong interpersonal skills for effective communication, leadership, and collaboration with team members and stakeholders in order to successfully carry out their responsibilities. Without these skills, project managers will not be able to successfully complete their jobs.

The technical abilities of a project manager may include expertise in project management software, an awareness of project planning processes, risk management, budgeting, and other areas linked to the execution of a project, among other things. Interpersonal skills are equally crucial for developing and managing a cohesive project team, interacting with stakeholders, resolving issues, and ensuring that the project fulfills its goals within the defined limits. Interpersonal skills are also necessary for ensuring that the project accomplishes its objectives within the specified restrictions.

5. Which term refers to identifying stakeholders and grouping them by interest and influence?

Answers

·        Stakeholder monitoring

·        Stakeholder analysis

·        Stakeholder buy-in

·        Steering committee meeting

Explanation: Stakeholder Analysis is the process of determining who the stakeholders are and classifying them according to the interests and levels of influence they have. The method of doing a stakeholder analysis is one that is used in project management.

Its purpose is to identify and comprehend the diverse interests, expectations, and influences of those who are engaged in a project. It entails classifying stakeholders according to the degree of interest they have in the project as well as the amount of influence or power they have on the results of the project. The objective is to prioritize activities related to communication and engagement, taking into account the distinctive requirements and worries of the various stakeholder groups. The study of stakeholders provides project managers with the information they need to make educated choices about how to manage relationships, resolve issues, and assure the success of their projects.

6. How does stakeholder analysis benefit a project? Select all that apply.

Answers

·        Builds partnerships necessary for project success

·        Helps the project team avoid surprises

·        Gets the right people involved at the right time

·        Lowers project costs

     

7. Which of the following statements are true of RACI charts? Select all that apply.

Answers

·        Assess each stakeholder’s ability to participate and build necessary partnerships

·        Define project roles and responsibilities to ensure efficiency

·        Determine which stakeholders are responsible for which tasks

·        Record the level of risk stakeholders bring to the project

 8. Which three of the following situations can lead to role confusion on a project?

Answers

·        When only one person is designated as accountable

·        When ownership of decisions is unclear

·        When workloads are unbalanced

·        When team members perform overlapping work

 

9. As a project manager, you make considerations when building a team. You decide how many people need to be on the team, what expertise each member will need to complete their tasks, and if they have a personal incentive to work on the project. What else should you consider when building a team?

Answers

·        Team member availability

·        Team member communication preferences

·        Degree of stakeholder engagement

·        Whether the project has a strong business case

 

10. As a project manager, you’re prioritizing stakeholders with a power grid. One stakeholder has low power and high interest. What level of engagement should the team have with the stakeholder?

Answers

·        Monitor

·        Meet their needs

·        Manage closely

·        Show consideration

Explanation: When dealing with a stakeholder that has little authority but a significant amount of interest, the team should interact in a manner that adequately includes the stakeholder in the project. In a power-interest grid, a label that reads "Keep Informed" is often assigned to this kind of stakeholder.

Shuffle Q/A 1

11. Who has the role of interacting with stakeholders throughout a project?

Answers

·        Product vendor

·        Project manager

·        Project sponsor

·        Product lead

Explanation: Fostering cooperation, maintaining alignment with stakeholder expectations, and resolving concerns in a timely way are all important aspects of effective stakeholder management that contribute to the successful completion of a project. The Project Manager acts as the principal point of contact for all of the project's stakeholders. In this capacity, the Project Manager plays a crucial role in enabling communication and creating an atmosphere that is supportive of the project.

 

12. What is a responsibility of the project sponsor?

Answers

·        To conduct meetings with the team members and assign tasks

·        To ensure the successful completion of a project

·        To complete the daily tasks of the project

·        To create the project charters and RACI charts

13. What is one of the main ways primary and secondary stakeholders can help in the planning stages of a project?

Answers

·        To complete and execute tasks

·        To define project goals and outcomes 

·        To create charts and visuals for the team

·        To conduct a stakeholder analysis for the project

14. What group often provides the technical skills required for a project?

Answers

·        Project team members

·        Project manager.

·        Primary stakeholders

·        Secondary stakeholders

Explanation: The Project Team is an organization that was put up specifically for the purpose of working on the project. It is made up of professionals that have a variety of abilities and areas of experience that are pertinent to the project's goals. This team is accountable for carrying out the activities described in the project plan and providing the outputs or results that are associated with the project.

 

15. Fill in the blank: Stakeholder analysis is the process of identifying stakeholders and grouping them by _____.

Answers

·        interest and influence

·        seniority and experience

·        availability and participation

·        talents and skills

Explanation: The process of determining who the various stakeholders are and classifying them according to the interests and levels of influence they have is known as stakeholder analysis.

 

16. As a project manager, you complete a stakeholder analysis and make a list of all the stakeholders. What is often the next step?

Answers

·        Determine the level of interest and influence for each stakeholder

·        Schedule a meeting with all stakeholders

·        Make a budget to determine how much each stakeholder should invest

·        Assign tasks to each stakeholder

Explanation: The following phase, which is typically the development of a stakeholder engagement strategy, comes after a stakeholder analysis has been finished and a list of all the stakeholders has been compiled.

The strategy for engaging stakeholders defines the manner in which the project manager and the project team will interact with each stakeholder as well as manage communication with them throughout the lifespan of the project. This strategy is adapted to meet the particular requirements, objectives, and spheres of influence of all of the stakeholders.

 

17. Which of the following is true of someone who is accountable in a RACI chart?

Answers

·        Ensures the work gets completed

·        Learns about tasks when they are complete

·        Carries out the work to complete the tasks

·        Gives feedback according to their subject matter expertise

18. As a project manager creating a team, what is an important step that enables team members to complete tasks?

Answers

·        Ensure each team member has the necessary skills to complete the tasks

·        Ensure all team members are able to effectively communicate with stakeholders

·        Ensure all team members have an interest in the project

·        Ensure all team members are friendly and nice

Explanation: The project manager is responsible for providing the members of the team with a map to follow as they make contributions to the project. This is accomplished by taking the effort to establish defined roles and duties. This clarity improves cooperation, clarifies roles, and adds to the overall efficiency with which the team completes tasks, all of which contribute to the overall success of the team in achieving its goals.

 

19. As a project manager, you’re prioritizing stakeholders with a power grid. One stakeholder has high power and low interest. What level of engagement should the team have with the stakeholder?

Answers

·        Manage closely

·        Meet their needs

·        Show consideration

·        Monitor

Explanation: In most cases, stakeholders who have a high level of authority but a low level of interest do not desire to have a significant impact on the day-to-day operations of the project. However, they have the potential to make a substantial contribution to the success of the project. The goal of the strategy is to maintain customer contentment by catering to their requirements, supplying them with frequent updates, and guaranteeing that they are kept abreast of significant advancements. Even if they don't take part in the activities themselves, their contentment is essential to the success of the initiative.

 

20. Which of the following is a title given to the director responsible for the successful outcome of a project?

Answers

·         The project sponsor

·        The project manager

·        The team member

·        The client

Explanation: It is common practice to grant the title of "Project Director" or "Program Director" to the director who is ultimately accountable for the achievement of a desired result in the context of a certain project. This person is accountable for managing the whole of the project or program, making certain that it complies with organizational goals, maintains the established timeline, and accomplishes the goals it was designed to accomplish.

The precise title may differ from company to company; for example, some companies may use phrases like "Program Manager" or "Project Executive," while others may use various variants. The overall position, on the other hand, is often connected to the job of directing and guiding the project to a successful conclusion.

 

21. Which responsibilities belong to project team members?

Answers

·        Use technical expertise and interpersonal skills to complete day-to-day tasks

·        Report project findings and progress to the project sponsor

·        Make sure the project fulfills its objective and supports the overall business strategy

·        Oversee the scope, schedule, budget, and quality of a project

Explanation: It is common practice to grant the title of "Project Director" or "Program Director" to the director who is ultimately accountable for the achievement of a desired result in the context of a certain project. This person is accountable for managing the whole of the project or program, making certain that it complies with organizational goals, maintains the established timeline, and accomplishes the goals it was designed to accomplish.

The precise title may differ from company to company; for example, some companies may use phrases like "Program Manager" or "Project Executive," while others may use various variants. The overall position, on the other hand, is often connected to the job of directing and guiding the project to a successful conclusion.

 

22. What does the acronym RACI stand for?

Answers

·        Responsible, Appeased, Consulted, Interested

·        Responsible, Accountable, Consulted, Informed

·        Responsible, Accountable, Considered, Informed

·        Responsible, Accountable, Considered, Interested

Shuffle Q/A 2

23. As a project manager, you have a team member who is a subject matter expert and will answer questions as needed during the execution of the project. What role will this person be assigned in a RACI chart?

Answers

·        Consulted

·        Informed

·        Responsible

·        Accountable

24. As a project manager, you make considerations when building a team. You decide how many people should be on the team, if they have the time to work on the project, and if they have a personal incentive to work on the project. What else should you consider when building a team?

Answers

·        Necessary skills for the project

·        Likelihood of project success

·        Team member communication preferences

·        Degree of stakeholder engagement

25. As a project manager, you are prioritizing stakeholders with a power grid. One stakeholder has low power and low interest. What level of engagement should the team have with the stakeholder?

Answers

·        Monitor

·        Manage closely

·        Meet their needs

·        Show consideration

Explanation: Engaging with stakeholders who have little power and interest serves the purpose of ensuring that these individuals are aware of the existence of the project and its development without requiring them to devote a large amount of money or effort to active engagement. Maintaining a basic level of contact with them in order to keep them informed is the primary objective at this time, particularly in the event that any new developments may have an indirect effect on them.

 

26. Who is responsible for the team's overall success and the project as a whole?

Answers

·        Project manager

·        Project sponsor

·        Primary stakeholder

·        Product lead

Explanation: Typically, the Project Manager is the one who is held accountable for both the overall performance of the team and the overall success of the project. The Project Manager is a vital leadership job in project management, and over the whole lifespan of the project, they are liable for a variety of different areas.

27. Which of the following people are likely to be primary stakeholders in a project? Select all that apply.

Answers

·        The project sponsor

·        The project team

·        Business competitors

·        The project client

Explanation: Primary stakeholders in a project are persons or organizations that have a direct and substantial interest in the result of the project. These individuals and groups have a stake in the project's success. They are going to be immediately impacted by the project, and as a result, they will generally play an important part in ensuring its success. These stakeholders are either actively engaged in the project or are directly influenced by it, and they have a vested interest in the project being completed successfully. It is very necessary for successful project management to identify main stakeholders' expectations and then take steps to control those expectations.

 

28. Which of the following activities are steps in a stakeholder analysis? Select all that apply.

Answers

·        Assess each stakeholder’s reputation and level of experience

·        List the stakeholders impacted by the project

·        Assess each stakeholder’s level of interest and influence

·        Determine which stakeholders should be excluded from the project

29. What is the main benefit of making a RACI chart?

Answers

·        Illustrates all of the potential risks and opportunities for success

·        Assess each stakeholder’s ability to participate and build necessary partnerships

·        Determines which stakeholders should fill which roles during a project

·        Helps set SMART goals

30. In what two ways do RACI charts help project managers communicate effectively with stakeholders?

Answers

·        Eliminate confusion and overlapping work at the task level

·        Reveal which stakeholders have the greatest interest in the project

·        Reduce the number of people who need to communicate

·        Map out each person’s roles and responsibilities

Explanation: In conclusion, RACI charts are a useful visual communication tool that not only make roles and responsibilities more transparent within the project team, but also direct the way in which project managers interact with the different stakeholders. All of the individuals who are working on the project may benefit from clearer communication, fewer misunderstandings, and more consistent expectations as a result of this factor.

 

31. You are creating a new team to complete a project. In order to choose the right people, what is the first task to complete?

Answers

·        Make a list of the roles required to complete the tasks

·        Make a list of people who are interested in the project

·        Make a list of stakeholders and their priorities

·        Make a list of all team members in the company

32. Who is responsible for overseeing the scope, schedule, budget, and quality of a project?

Answers

·        Primary stakeholders

·        Project manager

·        Product lead

·        Project sponsor

33. As a project manager, you are defining the goals and outcomes for a project. Who should help you with this?

Answers

·        Minor players

·        Stakeholders

·        Team members

·        Project vendors

Explanation: You will be able to collect a variety of opinions, identify possible obstacles, and make certain that the project's goals are in accordance with the expectations of key stakeholders if you include these experts and stakeholders in the process of creating the goals for the project. The possibility of defining relevant and attainable project objectives via the use of this collaborative method is increased.

 

34. What role does the project manager assign to those executing project tasks?

Answers

·        Project sponsors

·        Project managers

·        Secondary stakeholders

·        Project team members

Explanation: Those who are responsible for carrying out project duties are often given the "Responsible" (R) position in a RACI chart. This role is assigned by the project manager. The "Responsible" function in the RACI (Responsible, Accountable, Consulted, Informed) framework is defined for people or team members who are directly accountable for completing the tasks or activities that are connected with a particular project deliverable or goal. The "Accountable" role is allocated for individuals or team members who are directly responsible for keeping others informed about the status of the project.

Shuffle Q/A 3

35. What type of chart is a visual representation of all stakeholders in a project?

Answers

·        Project task chart

·        Project budget summary

·        RACI chart

·        Stakeholder analysis chart

Explanation: A Stakeholder Map or Stakeholder Matrix is often used to display a graphical representation of all of the stakeholders who are involved in a project. This sort of chart offers a graphical summary of the numerous stakeholders that are engaged in a project and assists project managers and teams in comprehending the connections between the stakeholders, as well as the interests and degrees of influence held by each stakeholder.

36. What is the first step in a stakeholder analysis?

Answers

·        Determine each stakeholder’s level of interest

·        List the stakeholders impacted by the project

·        Assess each stakeholder’s ability to participate and find ways to involve them

·        Determine each stakeholder’s level of influence

Explanation: The first thing that needs to be done in order to get started with a stakeholder analysis is to make a list of all of the stakeholders that are important to the project. Creating a detailed list of people, organizations, and other entities that could have an interest in the project or be impacted by it is one of the steps included in this step. The process of determining who the project's stakeholders are creates the groundwork for understanding their respective responsibilities, degrees of influence, and expectations in connection to the project.

37. In a RACI chart, how many people should be designated as accountable?

Answers

·        Two

·        Four

·        Three

·        One

Explanation: When creating a RACI chart, there should only be room for one person to be identified as "Accountable" for each task or deliverable. The person who is ultimately responsible for the accomplishment or failure of the work is denoted by the "Accountable" role in the group. This individual is in charge of completing the work to a satisfactory level and have the power to make judgments on how it should be done.

38. As a project manager, you make considerations when building a team. You decide how many people should be on the team, if they have the time to work on the project, and what expertise each team member needs for their tasks. What else should you consider when building a team?

Answers

·        Degree of project sponsor engagement

·        Likelihood of project success

·        Team member motivation

·        Whether the project has a strong business case

39. A stakeholder needs additional time to make a decision on a project. What communication steps can a project manager make to help the stakeholder make their decision? Select all that apply.

Answers

·        Over-communicate early on

·        Start the work before the stakeholder makes a decision and confirm the decision later

·        Hold frequent meetings with the stakeholder

·        Send daily updates in progress emails

40. Does the project sponsor fund the project?

Answers

·        Yes. The project sponsor plays a vital leadership role, which always includes funding the project.

·        No. The project sponsor plays a vital leadership role but does not fund the project.

·        Sometimes. The project sponsor plays a vital leadership role, which sometimes includes funding the project.

Explanation: Yes, in most cases the sponsor of the project is the one who is responsible for providing financial support for the initiative. A important person or organization that advocates the project at a higher organizational level, often at the executive level, is referred to as the project sponsor. They play a very important part in acquiring the essential resources, such as financial backing, in order to assure the effective inception, execution, and conclusion of the project as a whole.

41. When conducting a stakeholder analysis, what does interest measure?

Answers

·        How many meetings the stakeholder participates in

·        How much money the stakeholder has invested in the project

·        How much the project outcome will affect the stakeholder

·        How much the stakeholder’s actions affect project outcome

Explanation: The word "interest" is used in stakeholder analysis to refer to the extent to which a stakeholder or stakeholder group is influenced by, or has a vested interest in, the results or success of a project. Another way to think of this is as having a "vested interest." It determines the degree to which a stakeholder is concerned or attentive with respect to the project and the consequences of the project. The involvement of stakeholders enables project managers and teams to better understand the relevance of the project to each stakeholder, which in turn allows them to better adapt communication and engagement tactics.

42. As a project manager, you create a chart to assign roles and responsibilities for the team. What type of chart are you creating?

Answers

·        RACI chart

·        Stakeholder analysis chart

·        Team analysis chart

·        SBI chart

Explanation: When you build a chart to assign tasks and duties for the team as a project manager, you are probably generating a RACI chart. RACI stands for Responsibility, Accountability, Consultation, and Involvement. The acronym RACI refers to the main responsibilities that people or organizations may play in a project. These roles include being Responsible, Accountable, Consulted, and Informed.

43. As a project manager, you make a list of tasks required to complete a project. You decide on the number of team members required to complete the tasks. What is the next step to decide in building the team?

Answers

·        Gauge the interest of each team member

·        Provide sponsorship for the team members

·        Assign roles for each team member

·        Determine the business value of the project

Explanation: Defining roles and duties for team members is the next phase in the process of forming a team, which comes after determining the list of activities that must be completed in order to successfully finish a project and settling on the number of team members that will be necessary. At this stage, the primary emphasis is on delegating certain responsibilities and functions to individual members of the team, taking into account the talents, levels of experience, and expectations associated with each assignment.

44. As a project manager, you’re prioritizing stakeholders with a power grid. You have a stakeholder you will need to manage closely. Where will you place this person in the power grid?

Answers

·        High interest, low influence

·        High interest, high influence

·        Low interest, high influence

·        Low interest, low influence

Explanation: The position of a stakeholder on a stakeholder power grid is defined by the stakeholder's amount of power and influence on the project. If you have a stakeholder that you need to handle carefully, this almost always indicates that this stakeholder has a substantial effect on the choices made or the results of the project. Within the framework of a power grid, you would most likely position this stakeholder in a quadrant suggesting high power as well as strong interest or impact.

45. Who are likely to be secondary stakeholders on a project?

Answers

·        Project contractors

·        Project managers

·        Team members

·        Project sponsors

Explanation: Individuals, groups, or organizations in a project are referred to be secondary stakeholders if they have the potential to be indirectly influenced by the project but do not have a direct or major interest in the project's results. They are not the project's primary beneficiaries or contributors, yet it is possible that the initiative will nevertheless have some amount of effect or influence on them.

46. What is the purpose of a stakeholder analysis?

Answers

·        Determine which stakeholders to exclude from a project

·        Talk to stakeholders and learn about their interests

·        Meet with stakeholders to make major project decisions

·        Identify stakeholders and determine their involvement in a project

Explanation: The study of stakeholders should be a continuous process that continues throughout the lifespan of the project. This gives project managers the ability to adapt to changing stakeholder landscapes and react appropriately. Project teams may improve their capacity to handle difficulties, create strong connections, and raise the probability that the project will be successful if they do a comprehensive study of the project's stakeholders.

47. What does a power grid represent when conducting a stakeholder analysis?

Answers

·        A power grid determines the stakeholders’ roles based on their position on the grid

·        A power grid visualizes how many tasks each stakeholder can complete

·        A power grid determines out accomplishments of each stakeholder

·        A power grid visualizes each stakeholder’s interest and influence in the project

Explanation: The power grid provides assistance to project managers in the process of prioritizing activities related to stakeholder management by identifying those stakeholders who demand greater attention, communication, and interaction. It provides assistance in the process of designing customized strategies for successful communication, relationship-building, and risk management based on the distinctive qualities of each stakeholder.

By using a power grid, project teams are able to acquire a more clear knowledge of the landscape of the many stakeholders and make more educated choices on how to interact with and manage the various stakeholders throughout the lifespan of the project. It is an extremely helpful instrument for negotiating the intricacies of stakeholder interactions and ensuring that the project is aligned with the interests and expectations of key stakeholders.