|Forum Home > Program Management Professional (PgMP) > Compensation strategy in Program Stakeholder management|
First of all, remember "Stakeholders" can be positive / negative.
This section contains the details about how each stakeholder will be positively / negatively impacted by the program, what would be their likely response, stakeholder issues & possible compensation mechanism, response actions approaches etc.
Take an example of a Program related to Construction industry:
A Program which is going to build a "Metro Rail" program which connect major cities within the country:
Unfortunately, the identified locations for this program to construct Metro rail was within the city limits which is a residential location where already there are many people living in that area.
So, for this program, the residents of this location may be in the category of "Negative stakeholder group' because they don't want such program to get initiated in their area because of the fear of losing their property
For the Program team, its important to identify those stakeholder's impact and how they are going to get compensated, how they will be relocated & where, when etc. need to carefully analyzed & gain buy-in from those stakeholders and implement it before occupying the land. All this will be covered as part of "Stakeholder management strategy".
"Stakeholder inventory" ideally should contain the details about the level of impact, stakeholder's issues & concerns etc.
SPM also emphasizes the point "When negative impacts are unavoidable, mitigations strategies must be provided FARILY & in a TIMELY manner".
This is a very important statement in such circumstance....
Please refer the below link for discussion related to this topic:
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