Project Smart ~ Exploring trends and developments in project management today

Calendar iconNot recorded
Adobe PDF icon

What is Stakeholder Management?

~ By Duncan Haughey

Business people shaking hands, finishing up a meeting

Running a successful project requires a high degree of stakeholder management. So who are your stakeholders?

A stakeholder is anyone who has an interest in your project or will be affected by its deliverables or output. It is important to understand the values and issues that stakeholders have so you can address them and keep everyone on board for the duration of the project.

In January 1996, the Gartner Group, in their paper Project Management Skills: Avoiding Management by Crisis, identified insufficient involvement of stakeholders and infrequent communication with sponsors as leading causes of project failure. Here are a few ideas that may help you.

Setting Goals and Objectives

Involve stakeholders in creating a set of realistic goals and objectives. Stakeholders are not always keen to participate actively, but engaging them at this early stage of the project will help ensure success. Stakeholders are most likely to involve themselves actively in a set of goals and objectives aimed at improving business performance and thereby take an interest in the project.

Agreeing Deliverables

Projects need a clear set of deliverables designed to achieve the project goals and objectives. These should be communicated clearly to the stakeholders and efforts made to ensure that there is a clear understanding regarding the quality and composition of each deliverable. Prototypes and samples can be prepared to achieve this understanding and avoid misunderstandings or disappointment later.

Communicating Information

Once your project is running, there are two groups of people who you should keep informed of progress, the project team and the stakeholders. The most efficient way of communicating progress is via regular status reports. The reports provide a good record of the project and can be emailed to all relevant parties and placed in a central repository to which everyone has access.

Finally, always stay close to your stakeholders, they are the most important people on your project.


Advertisement


Comments (1)

Topic: What is Stakeholder Management?
4/5 (1)
Gravatar
Full StarFull StarFull StarFull StarEmpty Star
14th July 2016 3:48am
Project Management Office (Bangalore) says...
Enterprises follow stakeholder management as a project necessity and keep their stakeholders well informed about the end to end project activities. One of the underlying and lesser known advantages of stakeholder engagement is that it uncovers risks that are overlooked by project members.

Add a comment



(never displayed)



 
2000
Enter the second letter of the word horse.
Notify me of new comments via email.
Remember my form inputs on this computer.

The Risky Business of Project Management

Three red dice reading: Manage your risk

It is important at the beginning of any project to go through the risk identification process. Not all project risks are obvious, so here's how.

Project Plans: 10 Essential Elements

Four colourful tags spelling the word plan

A project plan is more than just a Gantt chart, but do you know what you must have in your plan? This article takes you through the ten essential elements.

Top 10 Benefits to Earning a Certification

University students in a classroom watching a presentation

Is it worth putting in all of the work? Consider these benefits of earning a certification, and if you see the benefits for your situation, go for it!

Which Life Cycle Is Best for Your Project?

Life cycle written on digital touch screen

When choosing a development life cycle, don't just trust your feelings. Decide based on factors that really matter.

PROJECT SMART is the project management resource that helps managers at all levels improve their performance. We provide an important knowledge base for those involved in managing projects of all kinds. With weekly exclusive updates, we keep you in touch with the latest project management thinking.

WE ARE CONNECTED ~ Follow us on social media to get regular updates and opinion on what's happening in the world of project management.


Latest Comments

Arthur commented on…
Make Me a Project Manager in 2018
- Tue 16 January 12:24pm

Suzanne commented on…
The Role of the Project Manager
- Thu 11 January 9:29pm

David commented on…
Project Plans: 10 Essential Elements
- Mon 11 December 10:51pm

Latest tweets

General Project Management • Benefits Help https://t.co/WFZfGrXigf #projectsmart #pmot about 9 days ago

General Project Management • Re: Which project management software? https://t.co/kWXTIQMin4 #projectsmart #pmot about 13 days ago

General Project Management • Re: Project management software for personal use? https://t.co/LaLlQ8n9b8 #projectsmart #pmot about 13 days ago