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PFMP · Question #107

Several stakeholders have recently been very busy with a new corporate initiative and begin to miss portfolio meetings. Portfolio decisions have been delayed, which may have an impact on the overall p

The correct answer is C. Openly discuss the issue with the stakeholders and its impact on their interests.. When stakeholders disengage from portfolio meetings, the most effective reengagement strategy is to openly discuss the impact of their absence on their own interests, making the consequences personal and relevant.

Portfolio Stakeholder Engagement

Question

Several stakeholders have recently been very busy with a new corporate initiative and begin to miss portfolio meetings. Portfolio decisions have been delayed, which may have an impact on the overall portfolio performance. Which action should the portfolio manager take in order to reengage these stakeholders?

Options

  • ASend a memo to the stakeholders to comply with the portfolio management plan.
  • BDiscuss the issue with the portfolio sponsor and ask for support.
  • COpenly discuss the issue with the stakeholders and its impact on their interests.
  • DFormally escalate the issue to the portfolio governance board.

How the community answered

(60 responses)
  • A
    5% (3)
  • B
    8% (5)
  • C
    73% (44)
  • D
    13% (8)

Why each option

When stakeholders disengage from portfolio meetings, the most effective reengagement strategy is to openly discuss the impact of their absence on their own interests, making the consequences personal and relevant.

ASend a memo to the stakeholders to comply with the portfolio management plan.

Sending a compliance memo is a directive and potentially adversarial approach that is unlikely to reengage busy stakeholders and may further erode their willingness to participate.

BDiscuss the issue with the portfolio sponsor and ask for support.

Discussing the issue with the portfolio sponsor shifts the problem upward rather than addressing it directly with the stakeholders, bypassing the most effective first step of direct engagement.

COpenly discuss the issue with the stakeholders and its impact on their interests.Correct

Openly discussing the issue with the stakeholders and linking their absence to tangible impacts on their own interests motivates reengagement through self-interest rather than authority or mandate. This collaborative, stakeholder-centric approach addresses the root cause by making the consequences of non-participation visible and personally relevant to each stakeholder.

DFormally escalate the issue to the portfolio governance board.

Formally escalating to the governance board is a last resort measure that is premature when direct, open communication with the stakeholders themselves has not yet been attempted.

Concept tested: Stakeholder reengagement through direct communication

Source: https://www.pmi.org/pmbok-guide-standards/foundational/standard-for-portfolio-management

Topics

#Stakeholder Engagement#Portfolio Communication#Conflict Resolution#Decision Making

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