When you consider the success of projects, organizations and careers, you may not realise but the successful execution of its stakeholder engagement plays a significant part. When a stakeholder engagement process is well planned and executed, the journey and contributions feed into the outcomes and output. In other words, it is important to get it right else to avoid failure.
5 key tips to avoid mistakes from the outset:
- Not identifying the stakeholders correctly
The first and foremost thing to do is to identify and analysis stakeholders. Planning the engagement process is impossible without this key step. When project managers fail to identify the stakeholders correctly, the execution of the project goes for a toss.
- Failure to understand stakeholder expectations, needs and concerns
After the stakeholders are identified properly, the next step where the project managers can go wrong is in understanding the needs of the stakeholders. It is imperative for managers to communicate the purpose of the project and seek to understand the role of each stakeholder and how the project would impact them.
- Failure to manage the stakeholders as per their power and interest levels
Identification of the stakeholders are done so that the managers can manage the stakeholders as per their power (low or high) and interest (low or high). Managers make a big mistake when they manage all stakeholders in the same manner.
- Failure to keep stakeholders updated
Many managers make it a point to engage the stakeholders early in the project but as the project proceeds, a few of them fail to keep stakeholders up to date. Keeping the stakeholders updated about the project is as important as engaging them early on.
- Failure to identify, assess and manage stakeholder risks
Smaller risks when ignored can turn into blunders, which is why project managers should make sure that they regularly monitor risks. After identifying the risks, one can go ahead in deciding which stakeholder would be impacted by it and what steps to take.
All in all, as a project manager you must identify the stakeholders early in the project and start understanding their role and risks involved. Not just this, but for successful execution of the project, the manager should continue to identify and manage the stakeholders throughout the project. Follow these steps for effective stakeholder engagement and increase the chances of successful project execution.
