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IT PROJECT PLANNING: PROJECT SCOPE DETERMINATION, PROJECT STAKEHOLDERS, AND COST ANALYSIS
Essay Instructions:
odule 2 - Case
IT PROJECT PLANNING: PROJECT SCOPE DETERMINATION, PROJECT STAKEHOLDERS, AND COST ANALYSIS
Case Assignment
1. Provide examples of internal and external stakeholders and how to fit them in the stakeholders’ matrix.
Create the Stakeholders' Engagement Classification Matrix (See attached excel sheet) (follow Exhibit 4. Interest-Influence Classification in
https://www(dot)pmi(dot)org/learning/library/stakeholder-analysis-pivotal-practice-projects-8905) and explain your rationale for classifying stakeholders in the various quadrants.
2. Explain why it is important for organizations like the one in this case study to maintain good relationships with its stakeholders.
3. Analyze why providing information about the organization’s ethical behavior is important for the future of the firm.
4. What have you learned from the case study about stakeholders’ responsibility?
Assignment Expectations
To answer the assignment questions, your paper should be 3–4 pages (not including the cover page and reference list) and double-spaced. Take a definite stand on the issues and develop your supporting argument carefully. Use material from the Background information and any other sources you can find to support specific points in your arguments. Avoid making assertions for which you cannot find support other than your own opinion.
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IT PROJECT PLANNING: PROJECT SCOPE DETERMINATION, PROJECT STAKEHOLDERS, AND COST ANALYSIS
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IT PROJECT PLANNING: PROJECT SCOPE DETERMINATION, PROJECT STAKEHOLDERS, AND COST ANALYSIS
Provide examples of internal and external stakeholders and how to fit them into the stakeholders' matrix.
Stakeholders refer to individuals or groups of individuals with some level of interest in a company or organization (Pirozzi, 2018). Stakeholders can be directly or indirectly affected by the business being undertaken by the company or institution (Pirozzi, 2018). Equally, the company and the institutions can be affected by the actions of the various stakeholders, hence it is a two-way influence. There are two main types of stakeholders in a company: internal and external stakeholders.
Internal stakeholders are also primary or key stakeholders (Pirozzi, 2018). This type of stakeholder possesses a direct stake in the company. Additionally, they are affected directly by the company's negative or positive performance. This category of stakeholders includes project managers, donors, employees, and the board of directors.
External stakeholders on the other hand also known as secondary stakeholders do not hold a direct possession of the stake in the company, rather, they have an indirect representation in the company (Collins et al., 2017). External stakeholders include: suppliers, clients, customers, shareholders, community representatives, government agencies, regulatory institutions, labor unions, and religious bodies (Collins et al., 2017)
B) Create the Stakeholders' Engagement Classification Matrix
The Stakeholders Engagement Classification Matrix is a table containing the classification of stakeholders on various levels according to their interests and impact on the company. The quadrants include high interest-high influence stakeholders, high interest-low influence stakeholders, low interest-high influence stakeholders, and low interest-low influence stakeholders.
1st Quadrant: This is composed of stakeholders responsible for major decision-making in the company or sponsoring the project. Therefore, this group of stakeholders has a lot of influence and impact on the direction taken by the company. Additionally, they influence the outcomes. Included in this category are: the top management of the organization.
2nd Quadrant: These stakeholders do not directly participate in decision-making, however, they also highly dictate...
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