Stakeholder Management as part of PMP has a lot of importance in real time and impacts revenue recognition, pipeline, cost, time. We gain this insight and effects mostly through experience and as part of guidance by our mentors and leaders in projects.
Standard Stages in Stakeholder Management are Identify Stakeholders, Plan Stakeholder Management, Manage Stakeholder Management, Control Stakeholder Management
Each of the below points should be studied as a case study with real examples, imbibe it strongly and ensure we plan properly:-
Please feel free to comment on additional things so others can learn from your experience
1) Stakeholder Change:
It takes time to establish a trusted relationship and is often based on quality deliverables, good governance, good channels of communication, our delivery track record etc...
When this key customer stakeholder moves out of the equation, we need to start it all over with the new stakeholder.
This person's working style; priorities; needs; previous vendor preferences; their comfort with them; getting things done; being there for consultation; walking their corridors, needs to be considered.
You need show the similar or higher technical and management prowess, attention and availability, good intentions to make them succeed. It involves writing a stakeholder plan and each party play their role.
2) Stakeholder Support across all stages of the project
Stakeholder support and prioritization towards your strategic initiative/project is a very important success factor.
If resources are being diverted over to other business as usual and urgent activities, it means they are steering the time and effort away from your current project and might not be giving required importance to make this project succeed. Any of the success factors failing will have an impact on the project.
Stakeholder support is required to clear obstacles fast, make decisions fast, is equally important. If proper Stakeholder support is not being given, ensure you brace up with proper communication. Dipping into your sphere of influence to get required support can be done proactively to minimize the impact.
3) Regular Monthly Stakeholder Meeting for communication of expectations vs. reality from beginning to end. In case of crisis, weekly stakeholder meeting, to ensure it is going as per expectations and plan set
4) Expectations of internal stakeholders, leading to activities over and above other important activities required to achieve the project goal
5) Stakeholder current situation and priorities affecting the continuity
6) Communication on critical emails regarding milestones, risks, issues, delays, payments to stakeholders should be carefully drafted to preserve the interests of the company and SOW, which might be beneficial for future legal arbitration purposes.
Standard Stages in Stakeholder Management are Identify Stakeholders, Plan Stakeholder Management, Manage Stakeholder Management, Control Stakeholder Management
Each of the below points should be studied as a case study with real examples, imbibe it strongly and ensure we plan properly:-
Please feel free to comment on additional things so others can learn from your experience
1) Stakeholder Change:
It takes time to establish a trusted relationship and is often based on quality deliverables, good governance, good channels of communication, our delivery track record etc...
When this key customer stakeholder moves out of the equation, we need to start it all over with the new stakeholder.
This person's working style; priorities; needs; previous vendor preferences; their comfort with them; getting things done; being there for consultation; walking their corridors, needs to be considered.
You need show the similar or higher technical and management prowess, attention and availability, good intentions to make them succeed. It involves writing a stakeholder plan and each party play their role.
2) Stakeholder Support across all stages of the project
Stakeholder support and prioritization towards your strategic initiative/project is a very important success factor.
If resources are being diverted over to other business as usual and urgent activities, it means they are steering the time and effort away from your current project and might not be giving required importance to make this project succeed. Any of the success factors failing will have an impact on the project.
Stakeholder support is required to clear obstacles fast, make decisions fast, is equally important. If proper Stakeholder support is not being given, ensure you brace up with proper communication. Dipping into your sphere of influence to get required support can be done proactively to minimize the impact.
3) Regular Monthly Stakeholder Meeting for communication of expectations vs. reality from beginning to end. In case of crisis, weekly stakeholder meeting, to ensure it is going as per expectations and plan set
4) Expectations of internal stakeholders, leading to activities over and above other important activities required to achieve the project goal
5) Stakeholder current situation and priorities affecting the continuity
6) Communication on critical emails regarding milestones, risks, issues, delays, payments to stakeholders should be carefully drafted to preserve the interests of the company and SOW, which might be beneficial for future legal arbitration purposes.
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