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.


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
Out of 90, 76 or 12, which is the largest?
Notify me of new comments via email.
Remember my form inputs on this computer.

Is Your Project Proposal READY?

Businessman saying: Are you ready in retro style pop art

The mnemonic READY is useful when creating a project proposal. It will help you produce a project proposal that's difficult to ignore.

How to Deliver Project Status

Close-up of a businessman's hand with a gilded pen writing a document

This article recommendations how to deliver project status to management and the project team that you will hopefully find to be very effective.

Building Your Project Team

Friendly successful project team of young executives

How should you set about choosing people for your project and forming them into a well functioning project team?

The Simplified Project Management Process

Flat design of project management with icons

A five-minute step by step explanation of what project management involves for people who are unfamiliar with the approach.

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

Sean B commented on…
MoSCoW Method
- Thu 19 September 1:42pm

Brian Cassidy commented on…
RACI Matrix
- Sat 14 September 11:38am

Dalia Eldardiry commented on…
Introduction to Project Management
- Sun 1 September 6:42pm

Latest tweets

General Project Management • Re: EPCM abbreviation question https://t.co/az3s6uPT6B about 1 day ago

RT @Capterra_UK: Check out our list of the best #ProjectManagement tools for UK SME:  https://t.co/n2Sc0wEjOE @ProjectSmart@asana @evern… about 5 days ago

General Project Management • Re: What content to include in a status report? https://t.co/oJhRQ9lQaJ about 5 days ago