stakeholder risk management
TRANSCRIPT
1© Life Cycle Institute
Stakeholder Risk Management
2© Life Cycle Institute
The research is in…
McKinsey
study2008
70% of projects fail to meet objectives
PMI study 2015
Project success rates remain flat (60%) between 2011-2015
Calleum Consulting
“Why do projects
fail”2015
Top sources for project failure: • Lack of communication• Failure to engage
stakeholders• Failure to address culture
changeDr. Clemith Houston
“Perspectives on Research and Case Studies on Primary Factors for Project Success” PMI Global Congress North America, 2015
3© Life Cycle Institute
Why?
Stakeholder risk management
4© Life Cycle Institute
You’re 6x more likely to meet
project objectives
You’ll be 3x more likely to
meet budget and 4x more likely to
meet schedule
When you effectively manage stakeholder risks…
©Prosci® Best Practices in Change Management Benchmarking Report, 2014
5© Life Cycle Institute
How do you manage stakeholder risk?
According to the Project Management Institute:– Identify and analyze stakeholders– Plan stakeholder management– Manage stakeholder engagement– Control and monitor stakeholder
engagement
PMI. PMBOK Guide, 5th edition. Newton Square: PMI, 2013.
6© Life Cycle Institute
Stakeholder management tools
Identify
Analyze
Plan and Manage
Control
• Brainstorm • Interviews• Lessons learned
from previous projects
• Salient model• Stakeholder
diagrams• Key stakeholder
competency assessments
• Power, influence, interest grids
• Stakeholder maps
• Communication plans
• Coaching plans• Training plans• Resistance
management• Engagement
assessments
• Engagement assessments
• Monitor performance metrics
• Adjust plans as needed
7© Life Cycle Institute
Stakeholder management spans the project life cycle
Project initiation
Project planning
Project execution
Project monitor
and control
Project life cycle
• Identify stakeholder risks• Stakeholder management
plans
• Engagement assessments• Competency development• Plan & document updates
• Identify stakeholders• Analyze
stakeholders
• Performance metrics• Reinforcement• Plan & document updates
8© Life Cycle Institute
Life Cycle Institute is an experienced authority in:
1. Stakeholder analysis and assessment2. Stakeholder engagement plans3. Stakeholder map4. Stakeholder satisfaction analysis5. Resistance management
9© Life Cycle Institute
3 Reasons to Choose Life Cycle Institute
Stakeholder management is what we DO!Our team of certified change management practitioners understands what it takes to change behavior to produce results!
LCI instructors are trained learning facilitatorsRigorous facilitator qualification and certification process Focus on the learning process and transfer to the jobEngage learners, reinforce relevancy and integrate prior experience
LCI training is an active experience Learning by doing vs. lectureGroup activities, assessments, case studiesNetwork with peersDevelop action plans to drive results post-training
10© Life Cycle Institute
Life Cycle Institute is the learning, leadership and change management practice at Life Cycle Engineering.