Knowledge

SSG 39: Stakeholder Engagement

Version 1.0 March 2019

Effective stakeholder engagement helps organisations and projects to set direction, ensure potential problems are addressed, and understand any changes to goals. Management and employee commitment within the organisation is assured. Effective
stakeholder engagement requires good decision-making and sustainable business development.

This SSG explores the implications of ISO 55000 frameworks and 'fundamentals' for Stakeholder Engagement.

We offer comprehensive tools and techniques for the asset manager to deliver the fundamentals of asset management by effectively engaging stakeholders within and outside their organisations. 

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With thanks to our sponsors of this publication.

        National Grid  

 

CONTENTS  
Acknowledgements   ii
1 INTRODUCTION
1.1 Introduction to Subject Specific Guidance
1.2 The SSGs in context

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2 SCOPE OF THIS SSG
2.1 Scope
2.2 Definition: Stakeholder engagement
2.3 Benefits: Why is stakeholder engagement important?
2.4 Scope: Details
2.5 Out of scope

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3 STAKEHOLDER ENGAGEMENT: IMPORTANCE AND BENEFITS
3.1 Stakeholder engagement: Importance and Benefits
3.2 Stakeholder engagement and the Asset Life Cycle

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4 STAKEHOLDER ENGAGEMENT: KEY CONSIDERATIONS AND FEATURES
4.1 Understanding the organisation and its stakeholders
4.2 Five essential questions to ensure effective stakeholder engagement

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5 HOW ARE STRATEGIC DECISIONS MADE, AND WHEN?
5.1 Stakeholder engagement and related asset management subjects
5.2 Governance and decision-making framework

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6 WHO MAKES ASSET MANAGEMENT DECISIONS?
6.1 Responsibility and Accountability
6.2 Engagement considerations: Internal company roles
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7 STAKEHOLDER ANALYSIS: A PRE-REQUISITE FOR ENGAGEMENT
7.1 Stakeholder analysis: Introduction
7.2 Who are the stakeholders in asset management?
7.3 Stakeholder analysis: Eight topics for each stakeholder

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8 STAKEHOLDER ANALYSES: 10 EXAMPLES
8.1 Customers
8.2 Communities
8.3 Media and Society
8.4 Governments and regulators
8.5 Senior Leaders (VP+)
8.6 Financiers (including CFOs) and investors
8.7 Employees
8.8 Suppliers
8.9 Academics, researchers
8.10 Asset manager in context

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9 COMMUNICATING EFFECTIVELY WITH STAKEHOLDERS
9.1 Communicating with stakeholders: Goals
9.2 Prioritising communications: The Power / Interest grid
9.3 Prioritising communications: Activities
9.4 Stakeholder Communications plan: 9 requirements

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10 COMMUNICATIONS PLAN EXAMPLE: SENIOR LEADERS

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11 WHAT SKILLS DO I NEED TO APPLY FOR GOOD STAKEHOLDER ENGAGEMENT? 
11.1 Essential skills: Management, leadership, technical
11.2 Essential skills: Application

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12 DEFINITIONS: RELATED ASSET MANAGEMENT SUBJECTS

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13 FURTHER READING 38

 

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