Manage Your Stakeholder To Avoid Project Failure

Perhaps you have heard the expression "Project Management all about people". People are essential if you want to be a Project Manager or part of a team. Your team will be required to work together, complete tasks promptly, and communicate positive messages about your project.

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This step process will dramatically increase your chances of a successful project.

Step 1 – Identify your stakeholders

Anybody who is directly or indirectly affected by your project is a stakeholder. Make a list of all the people you know who will be affected by your project. This list should contain:

 

  • People who feel both positive and negative effects

  • Staff internal

  • Partners/suppliers

  • Public

  • Media

  • Regulating authorities

  • Customers

 

Step 2: Analyze your stakeholders

Draw a square on a piece of flipchart paper. Divide it into four boxes. The left side of the square Influence and the bottom Interest should be labeled. The bottom left box should be labeled – 'Least Important'. The bottom right box should be labeled – "Show consideration". The top box should be labeled 'Meet their requirements'. Finally, the top box should be labeled – Key player'.

Step 3: Write a plan for stakeholder engagement

Once you've completed the analysis and identification stages, it's time to create your stakeholder engagement strategy. In a table, list all stakeholder groups and their position on the influence/interest matrix. To describe their goals, add two columns to the table. The other column can be used to identify win/win strategies to engage with them.

 

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