Stakeholder Management and Communication Flashcards
6 cards from real CPM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Stakeholder Management and Communication flashcards as text
Who are 'stakeholders' in product management?
Answer: Any individual or group with an interest in or influence over the product's success
Stakeholders include anyone who has an interest in or can influence the product, including customers, internal teams, executives, legal, sales, and external partners.
What is the 'influence vs. interest' stakeholder matrix used for?
Answer: Mapping stakeholders by their level of influence and interest to determine the appropriate engagement strategy
The influence-interest matrix helps product managers prioritize stakeholder engagement by categorizing them into groups requiring different communication and involvement levels.
What is the most effective way for a CPM to manage conflicting stakeholder priorities?
Answer: Facilitate alignment around shared business goals and use data to make the trade-offs visible and objective
Using shared business goals and objective data to frame trade-offs depersonalizes conflicts and helps stakeholders align around what's best for the product and company.
Why is regular stakeholder communication critical for a CPM?
Answer: To maintain alignment, manage expectations, surface risks early, and build trust across the organization
Regular communication keeps stakeholders informed and aligned, builds trust, surfaces potential blockers early, and prevents surprise conflicts at key milestones.
What is 'executive sponsorship' and why is it valuable for product managers?
Answer: Support from senior leadership that gives the product team resources, authority, and organizational backing
Executive sponsorship provides political support, resource access, and organizational authority that helps product teams navigate obstacles and drive strategic initiatives.
What does 'managing up' mean for a product manager?
Answer: Proactively communicating with and influencing senior leadership to align support, resources, and expectations
Managing up means proactively building a productive relationship with senior leadership by communicating clearly, aligning on goals, and influencing decisions without formal authority.