Manage Your Stakeholders to Avoid Project Failures

Even the smallest projects have stakeholders, and most approaches, tactics, and methodologies will involve some sort of stakeholder management. Project management training teaches us that managing stakeholders efficiently enables you and your entire team to understand exactly how the people involved in the project from the outside will be affected by it. This means you then have a much better ability to plan communication with those affected, meaning you avoid potential issues. If you are a Project Manager or part of a project team you will be reliant on people. You will need your team to work together, complete tasks on time and to present a positive message about your project.

Lisa Dudzik is a contracts and claims manager who has vast knowledge in stakeholder management. Her desire to known more and willingness to learn and develop enables her to provide accurate and appropriate support that is focused on a best for project approach. As Lisa says rightly that a stakeholder is an individual who is affected by your project which may include the internal staff, partners and suppliers, the public, media, regulatory authorities and customers.

It is important to understand the interest and requirements of the stakeholder. This needs to be identified by producing a list of questions to the stakeholders. This will help in clearly understanding the requirements of the stakeholders. Stakeholder management is a set of techniques that ties together the optimistic impacts and reduces the effect of the negative impacts. It consists of four main steps such as:

  • Identify stakeholders
  • Assess their interest and influence
  • Develop communication management plans
  • Engage and influence stakeholders

Lisa Dudzik, the well-known contracts and claims manager who has more than eighteen years of experience says that an upsurge in the total of investors adds anxiety to the venture and impacts the venture’s difficulty level. The corporate or sensitive speculation of the investor in the project and the capability of the investor to impact the project consequences or implementation method will also inspire the difficulty of the project. As well to the total of shareholders and their level of share, the point to which the venture shareholders come to an agreement or cause problems impacts the project’s intricacy.

According to Lisa Dudzik , stakeholders are the key to the successful project delivery in the modern organization. Different approaches should be made for different stakeholders as one cannot keep all the stakeholders happy at the same time. Excellent stakeholder management removes and reduces some problems and creates other issues itself. The more active communication you have with your stakeholders, the better your risk management strategy will be. You should also remember that every single person involved in your project has the prospective to recognize new risks others may not have spotted. The more engaged you are with them, the more likely you are to discover issues or activities occurring that could have an impact on your project. Thus, in order to avoid project failures, it is very important to manage your stakeholders.