The following graphic could represent which of the choices below in a well-run project:
  1. Project likelihood of completion over time
  2. Need for leadership over time
  3. Stakeholder influence over time
  4. Cost of changes over time
  5. All of the above
Explanation
Answer: c - In a well-run project, the influence of the stakeholders is high at the beginning of the project and should decrease over time as their input and requirements are established.

We want to stress the importance of identifying all possible stakeholders for your project as early on as possible. This is sometimes hard in an early stage of a project where you don’t know the organization well. However, if you don’t do it, you will find a new stakeholder later in the process who is unhappy you did not include them.

Key Takeaway: We included this question for two reasons. First, we don’t want you to panic if someone hands you a chart. Secondly, many interviews ask you how you would go about kicking off a project. One of the keys is to identify all the relevant stakeholders early on in the process.

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