Creating And Managing The Product Mix

Introduction In the previous blogs of the Stakeholder Engagement series, we explored what the concept is and how it differs from stakeholder management. In this blog, we are going to look at the key skills that can help you become successful at onboarding and engaging a vast network of important stakeholders.       In the second episode of the Vibrant Publishers’ podcast, Empowering Success Through Stakeholder Engagement, Project Management Professional (PMP) Michelle Bartonico talks about the need to “map out” the network of stakeholders you’ll be dealing with. “Lean on your stakeholder register. Your stakeholder register is a document that you create when you’ve identified your list of stakeholders and stakeholder groups,” she advises. “Then, map out how salient they are to your project and what their influence is.” This is needed to balance the needs and demands of every stakeholder in the project process. Her book, Stakeholder Engagement Essentials You Always Wanted To Know, talks about how to get started on the process of identifying and mapping stakeholders, a core skill of project management.       Becoming a successful project manager does not only mean handling projects from start to finish and delivering products on schedule, but also maintaining interpersonal relations with the stakeholders involved in the project. “Honestly, the best advice I can give, which is something that has always worked for me, is exercising as much empathy as you possibly can,” she says. “Empathy means assuming a different role or a different viewpoint when you’re looking at the same project, and it’s really a way to practice coming out of yourself and understanding how might this other person be viewing something.” Approaching the project from a level of genuine curiosity, she feels, changes the way project resources respond and in turn their own work contribution to the project.       When conflict arises, as it invariably does, Michelle Bartonico says it’s time to consult the register again. The project manager needs to assess how influential a stakeholder is to the success of the project and figure out how to smooth over differences as diplomatically as possible. How the project manager responds in a situation of conflict will ultimately either escalate or de-escalate the conflict. Here, the project manager has to take the call whether to mediate in the conflict and bring it to an end, or let it spiral out of control.        Building genuine relationships is what stakeholder engagement is ultimately all about. It is about building trust and connections, not just for the sake of the project, but long-term relationships as well. Stakeholder engagement requires the project manager to be a people-person, skillfully handling a network of relationships and connections that will go a long way even after the project comes to an end as is a people-centric field.   Conclusion In this blog, we discussed the key skills needed to succeed as a project manager. Project managers need to have a mix of technical and interpersonal skills. In order to map out the complex connections between stakeholders involved in a project, project managers need to determine how important each stakeholder is and what they bring to the project. Listen to the full podcast on Spotify.com or check it out on YouTube. Read the first blog in this series here.    

Introduction While researching project management concepts, you must have come across these two terms, stakeholder engagement and stakeholder management. While they are similar-sounding, they are actually very different, as project management professional Michelle Bartonico explains later on. Read this blog to understand the difference between these two terms and why they’re equally important for an organization.   Difference between stakeholder engagement and stakeholder management “A stakeholder is anyone who has some sort of stake in a project,” explains Michelle Bartonico, PMP, in the second episode of the Vibrant Publishers’ Podcast titled Empowering Success Through Stakeholder Engagement. “Anyone who has a stake wants to feel engaged at whatever portion or part of the project that makes sense to them.” While not technically different from stakeholder management, understanding the difference in the two is important for project managers. Managers have to successfully engage and interact with stakeholders, keeping them in the loop about the progress of the project, while on the other hand, managers have to maintain control over stakeholders that impact the project outcome. Here, there is a shift in attitude.   While the two terms are not technically different, the purpose and approach towards stakeholders will significantly impact the project outcome. When stakeholder engagement comes into play In the previous blog, Why Stakeholder Engagement is Crucial for Project Success, we saw how good project engagement is all about engaging the right stakeholders and maintaining meaningful relations with them. Michelle Bartonico talks about this in her book, Stakeholder Engagement Essentials You Always Wanted To Know. She defines the difference between engagement and management as follows: “Contrary to someone feeling “managed,” when people are engaged, they are motivated, participatory, and more likely to be a resource.” Stakeholder engagement, therefore, is for empowering people and adding value to the project through participatory efforts. There are situations where engagement is needed and situations when managing stakeholders is needed.   When stakeholder management is needed Management comes into play in the case of stakeholders who have a direct impact on the outcome of a project, such as employees and project teams. There are five phases of project management, and stakeholders are involved in all of these phases, right from project initiation to completion. To understand the fine line between engaging and managing a stakeholder, you need to look at what the role of the stakeholder is. The stakeholder can be a simple “advocate”, “critic”, or “neutral”. Assessing where your stakeholders lie on the spectrum of stakeholder status can help to define whether an engagement or a management approach will work best.   You’ve categorized your stakeholders. Now what? The primary difference between engagement and management is—communication! As we discussed earlier, some stakeholders like investors and senior management may benefit from a more “engaged” approach, while others like vendors or employees are best “managed”. How you communicate with each of these stakeholders, then, will be shaped by which approach you use while dealing with them. The core principles of communication with stakeholders remain the same: focus on building interpersonal relationships and leverage what each stakeholder has to offer in the lifecycle of the project.   Conclusion In this blog, we discussed why it’s important to know when to engage and when to manage stakeholders. The difference lies primarily in the contribution each stakeholder provides in the project workflow. Knowing the difference can help streamline project operations. In the next blog, we will talk about the key skills you require to become a successful project manager. Listen to the full podcast on Spotify.com or check it out on YouTube. Read the next blog in this series here.  

Introduction In this blog, we’ll discuss the A-Z’s of stakeholder engagement, including its importance, why it’s crucial for any company, and what are the ways one can go about engaging stakeholders. If you’re new to the world of project management and want a quick and easy introduction to the concept and practice of stakeholder engagement, read on.   Firstly–what is stakeholder engagement? Think of stakeholders as entities that either impact an organization or are impacted by its activities in some manner. This can include investors, shareholders, employees, and of course, customers. Stakeholder engagement is a vital part of project management. Veteran marketer and project management professional Michelle Bartonico says that stakeholder engagement is “engaging the right people at the right time and helping them become champions of what [your organization] is trying to achieve.” Stakeholder engagement is, then, a process of collaboration and interaction, ensuring that the organization has the right people onboard to achieve the collective goals.   Why are stakeholders so important? Stakeholder engagement makes all the difference between a good project and an outstanding one, the latter adding value to all the stakeholders involved in the process. A project cannot be completed successfully without adding the inputs of multiple stakeholders at multiple checkpoints during the project process. Stakeholders are present during every stage of a project. Without the right stakeholders, a project will feel more like a list of items to be checked off rather than a process that adds value towards an end goal.   How do you engage stakeholders successfully? In order to successfully engage stakeholders, project managers must be “people-centric”. Being people-centric means approaching stakeholder engagement not as a means to an end but as a way to develop meaningful interpersonal relationships. The first step is identifying the right stakeholders, of course, and then understanding how to map out and analyze the impact that each stakeholder will have on the project in question. In her book, Michelle Bartonico explains that “a project’s destiny” is determined by how well the project manager is able to engage stakeholders. The key to winning over the right stakeholders is mapping out what each stakeholder can contribute and then planning how to remain connected with them at every stage of the project process.   What stakeholder engagement isn’t There is a common misconception that only one particular group of stakeholders is impacted by the project's outcome. However, that is not true. Multiple stakeholders are significantly impacted; whether they are supply chain managers or IT professionals. Michelle Bartonico states that the project outcome is based on “a collaboration between all levels”. Thus, while planning for stakeholder engagement, it is important to remember that every individual involved in contributing to the project—whether directly or indirectly—has their own role to play.   Conclusion Stakeholder engagement is crucial for project success because it gets the project going and helps keep track of who’s doing what. A project cannot be initiated without identifying relevant stakeholders. For a project management professional, project manager, or even a learner curious about the topic, knowing what this concept entails is essential for ensuring all-round project success. In our next blog, we look at the difference between the terms stakeholder engagement and stakeholder management. Listen to the full podcast on Spotify or check it out on YouTube. Read the next blog in this series here.    

One concern that often comes up in the ever-expanding world of technology is whether data analytics will be overtaken by artificial intelligence (AI). The merging of artificial intelligence and data analytics has created new opportunities for studying and using massive data. By offering deeper insights, predictive analytics, and automated decision-making processes, this combination holds the potential to completely transform several industries. Let's examine this complex relationship and what data analytics will look like in the AI era.   Data Analytics and AI Data analytics is the process of searching through information systems to find significant data. Artificial Intelligence has revolutionized this process, which was formerly laborious and manual. AI improves data analytics by processing and analyzing massive amounts of data quickly, which increases accuracy and efficiency. Machine learning (ML), a subfield of AI, is especially important for data analytics. With little assistance from humans, machine learning algorithms can recognize patterns in data, learn from them, and make judgments. This skill is essential to predictive analytics, which forecasts future trends and results by analyzing historical data. The development of AI in data analytics has been accelerated by the Big Data era. Older data analytics techniques are unable to keep up with the exponential rise of data coming from social media feeds, IoT (Internet of Things) devices, and other sources. In these settings, AI and ML flourish, sorting through intricate, unstructured data sets to produce insights that are impossible for people to find on their own. Enhanced Decision-Making Prescriptive Analytics, which offers suggestions and solutions, is provided by AI-driven analytics tools that go beyond basic data interpretation. This is a critical component in industries where data drives strategic decision-making, such as marketing, finance, and healthcare.   The Human Aspect of Analytics Even with AI's achievements, humans are still indispensable. AI fails in several domains; context, nuance understanding, and ethical considerations are frequently necessary for data interpretation. Despite their strength, AI systems are only as good as the data they are fed. Abnormal conclusions can result from biased or faulty data. For AI-generated analytics to be guided, interpreted, and judged, human oversight is necessary. Sensitive information is included in data analytics. Priority should be given to ethical issues like data security and privacy. This is an area where human intervention is critical, and AI systems must be designed to respect these concerns.   AI's Role in Data Analytics Future AI's significance in data analytics is growing as it develops further. With AI integration, data analytics appears to have a bright future ahead of it, enabling more sophisticated, effective, and precise analysis. AI development will improve predictive and prescriptive analytics skills, resulting in more precise forecasting and strategic planning for a variety of businesses. Real-Time Analytics AI makes it possible to process and analyze data in real-time, giving organizations instant insights and enabling them to respond quickly to changes in the market. AI-driven data analytics enables a higher level of personalization in the marketing and retail industries, enhancing consumer engagement and experiences.   Obstacles and Limitations However, there are difficulties in incorporating AI into data analytics. As AI systems handle data more intelligently, there is increasing worry about how to keep this data secure and private. Moreover, the issue of striking a balance between AI automation and human employment also exists. The workforce needs to be retrained and reskilled as AI takes on more analytical jobs.   Developing Responsible AI: A Case Study Finally, there is a strong need to have a responsible AI that is transparent, ethical, and fair. One of the best examples of responsible AI in action is Google's AI for Social Good initiative, which focuses on applying AI technologies in an ethical, transparent, and helpful way to address global concerns. This project demonstrates Google's dedication to bringing AI into daily life to solve important problems like healthcare and environmental preservation. Project Jigsaw is one of the main projects within this initiative, and its goal is to stop online abuse. To establish a safer online environment, this project uses artificial intelligence (AI) to detect and filter toxic language on the internet and discriminate between harmful and neutral information. This AI model's unique ability to understand linguistic quirks guarantees impartial and accurate screening. The application of AI to wildlife conservation (Wildlife Insights) is another important undertaking. Here, Google's AI recognizes and classifies animal species by analyzing vast amounts of data from video traps in wildlife reserves. This highlights the potential of AI in environmental protection by supporting biodiversity research and anti-poaching initiatives. Furthermore, Google's AI development places a high priority on data security and privacy. The organization complies with international data privacy laws and uses strong security measures to safeguard sensitive and personal information. To sum up, Google's AI for Social Good project offers a blueprint for ethical AI research and use. By placing a high value on ethical standards, transparency, fairness, data privacy, and positive social effects, Google demonstrates how AI can be a powerful force for good that improves both the community and individual well-being. This case study highlights how AI may greatly help society while respecting moral and ethical standards, and it serves as an example for other AI developers.   In Summary Data Analytics Essentials is a stepping-stone towards building a career as a data analyst. In a nutshell, while AI greatly improves data analytics, it is not about to take over soon and harm society. In order to provide context, exercise ethical supervision, and make strategic decisions, the human element is still essential. The future of data analytics is collaborative methods that combine human insight and judgment with AI's speed and efficiency. The goal should be to maximize the benefits of both AI and data analytics as we move through this fascinating era, laying the groundwork for a future that is both ethically and data driven. Vibrant’s new book Data Analytics Essentials You Always Wanted To Know is specially designed to serve as a stepping-stone for the future generation of data analysts. It can be used by professionals, career-switchers as well as students to build a strong foundation in data analytics. This book is a part of Vibrant Publishers’ Self-Learning Management Series. Dr. Bianca Szasz, author of Data Analytics Essentials You Always Wanted To Know This blog is written by Dr. Bianca Szasz, author of the book, ‘Data Analytics Essentials You Always Wanted To Know’ by Vibrant Publishers. Also read: 3 Unexpected Applications of Big Data Analytics What Role does Data Analytics play in Decision-Making? Introduction to Data Structures    

Big data analytics has become a powerhouse, completely changing the way we study and interpret enormous amounts of data. This innovative field transcends standard data analytics and is firmly based on artificial intelligence, machine learning, and statistics. It offers insightful analysis and predictions that are essential for decision-making across a range of industries. But what exactly is big data? Big data are those data sets whose dispersion, size, diversity, and/or timeliness necessitate the use of novel technical analytics in order to provide insights that can generate benefits. It's all about managing data that exceeds the storage or processing capacity of traditional systems. Big data can take many different forms, including text files, multimedia files, genetic maps, financial data, and others. You can learn more about how data is stored by reading Introduction to Data Structures.   Data Analytics Essentials You Always Wanted To Know is a comprehensive manual for those who want to begin their journey into the world of data analytics. Big data analytics finds use across various industries, promoting growth, efficiency, and innovation. It involves examining, analyzing, and interpreting large and diverse sets of data, to discover patterns, correlations, trends, and insights that can guide decision-making within organizations. To learn more about how data analytics impacts decision-making, read What role does data analytics play in decision making? The book Data Analytics Essentials You Always Wanted To Know by Dr. Bianca Szasz dives into this world of big data, providing those who are intrigued by data analytics with all the ‘essentials’ in a concise manner.  But before you dive into data analytics, you can benefit from knowing the scope and the novel opportunities it produces. Here are three unexpected applications for big data analytics that are revolutionizing the world.   1. Improving Sports Management and Performance The sports sector is home to one of the most fascinating applications of big data analytics. Sports analytics is a game-changer, far beyond the stereotype of data processing in business environments. Predictive analytics and machine learning algorithms are being used by athletes and sports teams to improve strategy, performance, and even injury prevention. Regression analysis, player performance analysis, predictive analytics, and other advanced analytics methods are used to evaluate player fitness, game plans, and even talent scouting. Teams are now using these findings to guide their strategic planning, resulting in a more dynamic and evidence-based method of managing sports. Integration of Wearable Technology and IoT Wearable technologies and the Internet of Things (IoT) are major players in this revolution. Wearables with sensors that athletes can use to monitor their heart rates and movement patterns produce a continuous flow of data. When evaluated with advanced big data tools such as Hadoop or Apache Spark, this data provides athletes and coaches with useful insights. Predictive analytics can be used to lower the risk of injuries in addition to optimizing performance. The Use of Data in Marketing and Fan Engagement Furthermore, big data analytics is used in sports off the field. Sports marketing and fan interaction are being revolutionized by it. Teams and sponsors can optimize their marketing tactics by examining fan behavior and preferences. In addition to increasing fan loyalty, this individualized strategy creates new revenue streams through goods sales and customized advertising.   2. Transforming Agriculture The field of agriculture is seeing a notable increase in the use of big data analytics. The use of data analytics in precision farming is revolutionizing the production of food. Data-driven insights are being used by farmers to make better-informed decisions about when and how to sow, harvest, and manage crops. Predictive Analytics's Role in Agriculture Utilizing tools like satellite photography, farmers are able to keep an eye on the health of their crops over large areas. Better crop management is ensured by predictive analytics systems that help forecast weather patterns, pest infestations, and yield predictions. Through efficient use of resources like water and fertilizers, this method not only increases productivity but also supports sustainable farming practices. Smart farming and IoT Another technological innovation that is revolutionizing agriculture is the Internet of Things (IoT). Field sensors gather information on soil moisture, temperature, and humidity, among other environmental factors. In order to maximize resource efficiency and minimize waste, timely and well-informed decisions on fertilization and irrigation must be made using this real-time data. Big Data in Supply Chain Management for Agriculture Moreover, big data analytics is essential for optimizing agricultural supply chain management. Data analytics helps to make the supply chain more effective and responsive to market demands. It does this by tracking the movement of goods from farm to table and forecasting market demands and price fluctuations.   3. Changing the Development of Smart Cities and Urban Planning Urban planning and the development of smart cities may be two of the most significant uses of big data analytics. These days, city planners have the tools necessary to examine enormous information from a variety of sources, including demographic trends, energy consumption, and traffic patterns. Towards More Efficient Smart Cities: A Data-driven Strategy Everything in a smart city is interconnected, including traffic signals and streetlights, producing data that can be evaluated for improved urban administration. Predictive models are applied to promote public safety, save energy usage, and improve traffic flow. Furthermore, data analytics is essential to emergency response and catastrophe management because it offers timely insights that have the potential to save lives. Improving Urban Life Quality with Data Big data analytics in smart cities aims to improve inhabitants' quality of life in addition to increasing efficiency. Improved waste management techniques, green space development, and effective public transit systems can all be influenced by data-driven insights. In order to create more livable, sustainable, and inclusive urban environments, urban planners must first understand the patterns and behaviors of city people. Big Data Analytics's Future Big data analytics appears to have a brighter future than it does now as we are producing zettabytes of data. Data analytics is becoming more potent and widely available because of the advancement of technologies like artificial intelligence and machine learning. Ethical Considerations But immense power also entails great responsibility. The increasing integration of data analytics into our daily lives raises ethical questions about data security and privacy. Adhering to data privacy legislation such as the CCPA and GDPR and implementing best practices in data management is imperative for organizations. Continuous Education Additionally, the importance of data science education is rising as the field develops. Future data analysts must possess a strong foundation in both technological expertise and ethical handling of data. Conclusions To sum up, big data analytics has a wide range of applications that reach into realms we never would have imagined. Big data analytics is not simply a tool for business optimization; it is also a driver for innovation and advancement on a worldwide scale, improving everything from sports performance to agriculture and smart city planning. Our imagination is the only limit on the possible uses of big data analytics as we progress through this digital era. Dr. Bianca Szasz, the author of Data Analytics Essentials You Always Wanted To Know This blog is written by Dr. Bianca Szasz, author of the upcoming book Data Analytics Essentials You Always Wanted To Know by Vibrant Publishers.   Also read: Introduction to Data Structures What role does data analytics play in decision making?  

My mother has a saying. Where you spend your time is one of the most important decisions you can make. And, though she was referring to life, not project management, applying this perspective to stakeholder management will help you focus on getting projects from initiation to closure- engaging the right people along the way.     As a professional in any industry, you will interact with people. How is it possible that we collaborate with people on a regular basis, yet one of the primary reasons projects fail is mismanaged expectations and unclear roles?     Let’s pretend you’re in charge of throwing a birthday party for your 8-year-old nephew. You know there needs to be a cake, decorations, a party location, invitations, and post-party clean up. You have a budget of $200 and your nephew’s birthday is in 4 weeks.     Your relatives, neighbors, and nephew’s classmates know you’re in charge of the party so you begin receiving a flood of opinions. The neighbors insist the theme should be trucks, while your relatives think it should be planes and rocket ships! You begin diverting your attention from securing a location, asking someone to create invitations, and baking a cake listening to highly interested, loud voices.     You don’t personally know your nephew’s classmates so you ask him who should be invited to the party. Once you get the guest list, you share this with your cousin who volunteered to create the invitation. Your cousin is a social butterfly who loves large gatherings and avoids conflict so when your nephew’s mom looks at the list, she tells your cousin to add some of her friends.     If you aren’t sensing some chaos, you should be! The project manager (party planner) began this project before identifying the stakeholders, detailing their expectations, and analyzing how they contribute to achieving the desired project outcome.     In your professional life, you may not be planning a birthday party, but you will be working with stakeholders. And, as my mother says, “Where you spend your time is one of the most important decisions you can make.” So, make sure you know who to spend your time with, who is distracting you from completing your tasks, and who truly has the power/interest in this specific project.     A firm grasp of stakeholder engagement will help you navigate through these failure points, engage the right people involved in your project and build long-standing relationships that set you up for future success.     Stakeholder Engagement Essentials was written to provide foundational essentials to engage stakeholders along with practical techniques and tools to successfully navigate projects and relationships with people in an organization. Readers can apply what they learn anytime they need to move a project, a conversation, or an initiative forward.     Key learning objectives also include Understanding of the fundamentals of engaging stakeholders Helpful approaches and strategies to apply How to build a Stakeholder Engagement plan Responding to stakeholder scenarios.     By the end of Stakeholder Engagement Essentials, you, your colleagues, or your students will have the tools and a people-first orientation to projects.     Stakeholder Engagement Essentials is now available for readers and is a part of Vibrant Publisher’s Self-Learning Management series. This Series provides a jump start to working professionals, where their job roles demand the knowledge and skills imparted in a business school. On the heels of Project Management Essentials, this latest book in the series takes a deep drive into stakeholder engagement.     About the author Michelle Bartonico is an experienced, solution-driven marketer and project manager with more than a decade of experience in higher education and marketing agencies serving clients in a breadth of industry verticals from healthcare to manufacturing. She is a certified Project Management Professional (PMP), PROSCI certified change practitioner, Six Sigma Yellow Belt, and has completed the Google Project Management Career Certificate program. Michelle also earned a Search Engine Optimization specialization from UC Davis Continuing and Professional Education.                  

Have you ever marveled at the speed and accuracy with which your Amazon order arrives at your doorstep? Of course you have! Who hasn’t? And, perhaps more impressive is how Amazon knew you spontaneously needed a 14” cutting board - thus have the item in stock.   Ashley McDonough, author of Operations and Supply Chain Management Essentials, tells us that “the Supply Chain involves the activities within the company that bring products and services to life. It includes the flow of goods, both in the form of raw materials and finished products, how those goods are stored, and how they reach customers.” Everything around us, from the food in our refrigerators to household items to the cars we drive is part of a thoughtful, intentional system.   The interplay between Supply Chain and Operations Management is important to understand.   In short, Supply Chain Management (SCM) involves external activities from the planning and management of sourcing and procurement, conversion, and logistics management activities to the coordination with suppliers and third party service providers.   Operations are about internal processes, e.g. that ensure quality.   What about project management? How, if at all, is this related to Operations and SCM? For starters, the Project Management Institute (PMI®) defines a project as “a temporary endeavor undertaken to create a unique product, service, or result.” Process improvement and continuous production of a good or service is neither temporary nor unique. However, this does not mean project management is unrelated to Operations and Supply Chain Management.   Let’s take a step back for a moment to think about what happens upstream. Business strategy -   the North Star for the organization illustrates where it’s going. When the business strategy is set, projects are initiated that align with this strategy.   All three: Operations, Supply Chain, and Project Management are concerned with bringing value. That goes for the organization and to customers.   Kalpesh Ashar, author of Project Management Essentials articulates the fundamentals that underpin project management. An important point Ashar makes is that one of the reasons for starting a project is market and customer demand. This is also the case with Supply Chain. Successful organizations listen to their customers and react accordingly. This is one of the many ways Operations, SCM, and Project Management are connected.   It should be noted that managing projects shouldn’t be a rigid endeavor. Yes, there are distinct phases, i.e. Initiating, Planning, Executing, Monitoring and Controlling, and Closing, but the methodology the Project Manager chooses will vary depending on the organizational culture and resources, and the project itself. For example, The PMBOK Standard published by the Project Management Institute refers to an "adaptive" type of development lifecycle also called "agile" or "change-driven" with regard to the product development lifecycle of a project (an element of the project lifecycle). Agile implies iterative, which is not dissimilar from how managers approach continuous improvement efforts. There is a defined need, work is done, assessed along the way, and continued or course corrected along the life cycle.   A key difference that you’ve likely discerned from the definitions above is that projects are one-time and unique. They aim to deliver on a defined scope and, once completed, the baton is handed to an operations team, if necessary. Operational management improves existing processes or procedures, thus this discipline is not concerned about one-time or unique endeavors but repeatable activities. Additionally, project management is anchored by a set of stages -  Initiating, Planning, Executing, Monitoring and Controlling, and Closing. These stages are designed to advance the project toward success. Operations and Supply Chain Management are cut from the same cloth as project management - with managers in these positions necessitating clarity, moving an initiative forward, and driving results that deliver value. OSCM’s processes, though distinct, are concerned with following the stages that take a company through the full lifecycle of strategy, procurement, receiving of the goods, and efficient processes.   These books mentioned in this article are part of Vibrant Publisher’s Self-Learning Management Series. The upcoming book Stakeholder Engagement Essentials You Always Wanted To Know is also a part of this series.   The Self-Learning Management Series intends to give a jump start to working professionals, whose job roles demand to have the knowledge imparted in a B-school but who haven’t got a chance to visit one. This series is designed to illuminate aspects of management, finance, organization development, consumer behavior, human resources, marketing and business.   Each book includes fundamentals, important concepts, standard principles and practical ways of application of the subject matter.   About the author - Michelle Bartonico is an experienced, solution-driven marketer and project manager with more than a decade of experience in higher education and marketing agencies serving clients in a breadth of industry verticals from healthcare to manufacturing. She is a certified Project Management Professional (PMP), MSI Change Management Specialist, Six Sigma Yellow Belt, and has completed the Google Project Management Career Certificate program. She is the author of Stakeholder Engagement Essentials You Always Wanted To Know.              

Stakeholder Management, also referred to as Stakeholder Engagement, is the heart of project management. Yet, Stakeholder Management is the area of project management that is often overlooked, underestimated, or mismanaged entirely.     Before diving into Stakeholder Management, let’s define a “stakeholder.” According to the Project Management Book of Knowledge (PMBOK), “ a stakeholder is an individual, group, or organization who may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project.”     In the above definition, it's apparent that people are the thread throughout any project. This makes the Stakeholder Management Knowledge Area one of the most dynamic in project management.     There are five phases of project management, (figure 1). Stakeholders are present in each phase - from initiating the project to performing the work to feeling the impact of the project’s outcomes.     (Source:https://pmstudycircle.com/stakeholders-in-project-management-definition-and-types)         Specifically, in Stakeholder Management, there are four processes the Project Manager and teams should follow.       Stakeholders are dynamic and ever-changing so it is imperative to know what the four stakeholder management processes are and where they dock within the five project phases. This is critical so Project Managers maintain sight of the team’s progress in a project and know the other Knowledge Area processes to apply.     Think of these life cycle processes as a relay race. The success of each one depends on the accuracy and careful handoff from the previous step. Whether small, large, or enterprise-wide in scale, the Project Initiation Phase is the time to begin identifying stakeholders.     Step 1: Identify Stakeholders - Here, the Project Manager generates and analyzes a list of people who have an interest or influence on the project outcome. The stakeholders' attitudes (positive, negative, neutral) are also assessed. This initial step helps determine stakeholder engagement strategies, clarifies roles, and serves as the building blocks for the stakeholder management plan.   (Source: https://www.smartsheet.com/blog/demystifying-5-phases-project-management)     Step 2: Create the Stakeholder Management plan - Also referred to as the Stakeholder Engagement Plan, this is the playbook for how the Project Manager and the project team will engage with stakeholders, communicate, and mitigate issues that could create a lack of support or buy-in for the project.     Step 3: Manage the plan - It refers to the management of the stakeholder plan. This step is ongoing because people’s behavior is fluid throughout any project. In this step, stakeholders are consulted on whether expectations are being met, their attitudes toward the project are assessed, and the stakeholder plan is updated as needed.     Step 4: Monitor the stakeholder management plan - Once the stakeholder plan is in place, it is at regular intervals that the effectiveness of the plan is reviewed. In the PMBOK, this step is part of the Monitoring and Controlling process group and it is a time when the Project Manager is deliberate about logging any issues, adding to a lesson learned register, and noting any adjustments to foundational documents, e.g., Stakeholder Register and Communications plan.     Table 1: Stakeholder Management Processes in Each Phase     Acquiring an understanding and practical knowledge of stakeholder engagement is something that any professional - regardless of their industry, years of experience, or position in an organization - can benefit from.     It's essential to know how to anticipate, monitor, and engage people throughout the life cycle of a project and beyond.     Releasing in January 2023 is Stakeholder Management Essentials. This book will be added to Vibrant Publisher’s Self-Learning Management series. The Self-Learning Management Series provides a jump start to working professionals, where their job roles demand the knowledge and skills imparted in a business school. On the heels of Project Management Essentials, Stakeholder Management Essentials takes a deep drive into stakeholder engagement.     In Stakeholder Management Essentials, readers will explore how to balance the tenets of project management with the realities of human dynamics. This book provides both foundational essentials of Stakeholder Management along with practical techniques and tools to successfully navigate projects and relationships with people in an organization. Readers can apply what they learn anytime they need to move a project, a conversation, or an initiative forward.     Key learning objectives also include Understanding the fundamentals of managing stakeholders Helpful approaches and strategies to use How to build a Stakeholder Management plan Responding to stakeholder scenarios.   By the end of Stakeholder Management Essentials, readers will have the tools and a people-first orientation that makes project success…on the horizon.