Stakeholders play a crucial role in the success of a project or program, and a Project Manager cannot succeed without applying effective techniques to get the most out of working with stakeholders. This implied success lies on the fact that project management is a team effort, and a Project Manager alone will not be able to effectively do everything that a project requires by themselves. Open communication and informed decision-making are some of the key benefits of stakeholder management, but these will only exist if a Project Manager implements a robust blueprint on how to take full advantage of the relationships with the stakeholders.
A strong blueprint for effective stakeholder management will include the following:
- Methodical Stakeholder Analysis
During project initiation, the Project Manager should identify the key stakeholders that will be involved in the project and make note of their levels of influence within the project. Stakeholders possess different levels of influence, and you want to know early who the most influential stakeholder is especially for when you need help influencing major decisions or gaining executive support for project funding needs. You should update the stakeholder register accordingly as you discover additional stakeholders and their inherent levels of influence.
- Effective Stakeholder Communication Channels
There is always a misconception that once you send an email to all stakeholders, you job is done with regards to the delivery of important project updates. However, this is where many Project Managers fail in their roles. It is important to ensure that when a key update or decision is being communicated, you follow up with the relevant stakeholders whose input or support will be needed. By being proactive in following up with the stakeholders, you are not left waiting on a response that they may have overlooked when they received your email. It also gives you another touchpoint to build stronger relationships with your stakeholders by following up with them directly. Moreover, knowing the ideal communication channel for each stakeholder will aid in reinforcing the effectiveness of your communication because you will use the appropriate channels to engage with the appropriate stakeholders as necessary.
- Expectation Management
Managing expectations in project management will eliminate the possibility of unwanted surprises on the part of your stakeholders. A Project Manager should always keep all stakeholders on the same page by communicating frequently on every major decision, expected delays, risks and issues, and budgetary concerns.
Stakeholders should not be blindsided with bad information, which is why it is important to continuously communicate with all stakeholders – at least on a weekly basis for those that are not part of the core project team that a Project Manager works with daily. This includes ensuring that they have the same understanding as yourself on everything that is going on within your project.
- Preemptive Action on Key Decisions
The last thing you want is to have your project torn apart during a steering committee because you waited too long to get help. This is where a Project Manager should leverage the most influential stakeholders and provide them with details on the issues affecting a project, and the mitigation plans that are set in place. The goal of this process is to obtain an alignment with the influential stakeholders as early as possible so that they have all the relevant information to support you and your project during difficult steering committee discussions.
At PM Imperative, we cover the latest trends in Project Management and Product Management. As PM practitioners, we understand the value the Project Managers and Product Managers bring to each organization and that’s why we focus on the most practical strategies that Project and Product Managers can implement immediately. If you found this post useful, be sure to check out our latest book: The PM Imperative – Guide for Leading & Managing Projects, People & Delivering Value. https://pmimperative.com/shop/
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