four keys to managing stakeholder expectations and delivering value
TRANSCRIPT
Four Keys To Managing Stakeholder Expectations And Delivering Value
IntroductionManaging stakeholder expectations is an important part of managing project-based work. If you're lucky, project stakeholders have clearly defined the value of what the successful outcome of their project might look like. Unfortunately, clearly defining the potential value of an initiative before the project has begun seems to be the exception rather than the rule in most organizations.
To help you avoid part of this trend, here are five key points to keep stakeholder expectations in check and deliver undeniable value:
1. Make sure "project success" is clearly defined before the project beginsIf success is not clearly defined, it's up to the project manager to initiate a dialogue to determine the value and desired outcome. Otherwise, they will likely find themselves measured against a moving target, in a project where “success” has no established destination point.
2. Don't make stakeholders wait too long before they start to see valueLong projects that require a lot of stakeholder patience tend to falter and ultimately fail. One of the best ways for project managers to keep projects healthy and stakeholders engaged is to focus on providing value regularly, at short (3-4 week) intervals.
3. Execute against the objective to ensure project successKeeping stakeholders focused on the objective can be challenging, but it's critical for project success. If a change doesn't contribute to the defined objective, stakeholders need to understand the ramifications and how changes could impact the final outcome.
4. Keep it simple when communicating with project stakeholdersRemember that executives aren't as interested in your particular work management methodology as they are in results. Keep stakeholder communication focused on progress and value. Be concise and brief.
