chennai Banner

Stakeholder Management

Discuss PMP doubts, tips and lesson learned. iZenBridge makes PMP® Certification easy
nazrulq
Contributor
Contributor
Posts: 133
Joined: Sun Feb 26, 2017 6:06 am

Stakeholder Management

Postby nazrulq Sun Jun 18, 2017 2:10 am

A project manager has to manage different stakeholder expectations. Project sponsor and customer are two very important stakeholders in any project. In this respect, which of the following is NOT the responsibility of both the project sponsor and the customer?

1 Take into account risk tolerance
2 Provide key events, milestones, and deliverable due dates
3 Formally accept the product of the project
4 Provide financial resources for the project.

Correct Answer 4.

All are the responsibilities of customer and project sponsor. In my point of view as customers are not providing finance for the project option 4 is the right choice.
NOT really clear question!

Can you please clear Manish!

Thanks.
manishpn
Expert
Expert
Posts: 2013
Joined: Sat Jan 04, 2014 3:55 pm

Re: Stakeholder Management

Postby manishpn Sun Jun 18, 2017 7:14 pm

nazrulq wrote:A project manager has to manage different stakeholder expectations. Project sponsor and customer are two very important stakeholders in any project. In this respect, which of the following is NOT the responsibility of both the project sponsor and the customer?

1 Take into account risk tolerance - This is one of the responsibilities of the Sponsor
2 Provide key events, milestones, and deliverable due dates - as per me this is the responsibility of the project manager and not of Sponsor or customer
3 Formally accept the product of the project - This is responsibility of the customer or someone within customer organization
4 Provide financial resources for the project. -- This is one of the responsibilities of the Sponsor

Correct Answer 4.

All are the responsibilities of customer and project sponsor. In my point of view as customers are not providing finance for the project option 4 is the right choice.
NOT really clear question!

Can you please clear Manish!

Thanks.


What is the source of the question?
Br,
Manish P
PMP, PMI - ACP, SAFe Agilist
http://www.izenbridge.com/blog/7-effect ... ification/
Prembalaji
Posts: 3
Joined: Wed May 10, 2017 1:38 pm

Re: Stakeholder Management

Postby Prembalaji Mon Jun 19, 2017 6:48 am

I would pick:
1.Take into account risk tolerance (choosing the ans by elimination method)

And to my understanding , working on Risk Tolerance would be PM and PM Teams responsibility rather than Sponsor/Customer , although Sponsor/Customer would contribute initially in giving their inputs for Risks .

Please correct me if im wrong .
Cheers,
PJ
Prachi Bansal
Posts: 13
Joined: Wed Dec 21, 2016 7:06 am

Re: Stakeholder Management

Postby Prachi Bansal Mon Jun 19, 2017 7:24 am

According to me, 2 should be the correct response as providing events, milestones and deliverable due dates is PM's responsibility. Customer or sponsor might provide inputs to them but Core responsibility of finalizing them lies with the PM.

2 Provide key events, milestones, and deliverable due dates - as per me this is the responsibility of the project manager and not of Sponsor or customer
manishpn
Expert
Expert
Posts: 2013
Joined: Sat Jan 04, 2014 3:55 pm

Re: Stakeholder Management

Postby manishpn Mon Jun 19, 2017 11:03 am

Prembalaji wrote:I would pick:
1.Take into account risk tolerance (choosing the ans by elimination method)

And to my understanding , working on Risk Tolerance would be PM and PM Teams responsibility rather than Sponsor/Customer , although Sponsor/Customer would contribute initially in giving their inputs for Risks .

Please correct me if im wrong .


Risk tolerance is defined at multiple level
1. At organization level
2. at project level.

Sponsor will help PM define risk tolerance at PM level.
Operation risk tolerance dealing is done by PM but sponsor also has a role at tactical level to provide guidance to PM on project level risk tolerance.
Br,
Manish P
PMP, PMI - ACP, SAFe Agilist
http://www.izenbridge.com/blog/7-effect ... ification/
nazrulq
Contributor
Contributor
Posts: 133
Joined: Sun Feb 26, 2017 6:06 am

Re: Stakeholder Management

Postby nazrulq Wed Jun 21, 2017 2:44 am

Very clearly explained. I think customer to be excluded from answer. (option 4)
nazrulq
Contributor
Contributor
Posts: 133
Joined: Sun Feb 26, 2017 6:06 am

Re: Stakeholder Management

Postby nazrulq Wed Jun 21, 2017 4:15 pm

Mile stone and events are by Project Manger but also subject to approval of customer. Milestone and mailevents can be changed if those are not approved by customer and other stakeholders. Risk Tolerance is only by project sponsor ! NOT stakeholders as well!
Utility theory tells about the tolerance of risk by stakeholders.
Please Clarify!

Thanks.

Return to “PMP® Open Forum”

Who is online

Users browsing this forum: Bing [Bot] and 9 guests