Cleland's Project Stakeholder Management Cycle

question 77

Multiple Choice

Cleland's project stakeholder management cycle:

• A) Requires all stakeholders to be identified and locked in as a first step.
• B) Is used to identify only internal stakeholders.
• C) Is used to identify only external stakeholders.
• D) Is a recurring cycle that allows new stakeholders to be considered at any time.

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Definitions:

Tit-For-Tat Strategy

A strategy in game theory where a participant replicates an opponent's previous action, not necessarily aggressive but reciprocal in nature.

Tacit Collusion

An unspoken, informal agreement among competitors to limit competition and maximize collective profits without explicit communication or contracts.

Bargaining Power

Bargaining Power denotes the capacity of one party in a negotiation to influence the terms and conditions of an agreement in their favor, often derived from one's status, resources, or strategic position.

Nash Equilibrium

Nash Equilibrium is a concept in game theory where each player's strategy is optimal, considering the strategies of other players, leading to a situation where no player has an incentive to deviate from their strategy.