1. WHATS THE RISK IN THE STEERING COMMITTEE? By Christine Aykac, PMP, PMI-RMP, PMI-ACP

2. 2 We will explore Who should be in the Steering Committee What is Stakeholder Management Risk & Mitigation Strategies Stakeholder Management Framework Open Discussion 3. 3 Who am I? As an Instructor: Master Instructor at ITpreneurs delivering PMP and PMI-ACP certification courses Design and deliver Risk Management courses, including PMI-RMP certification course Consulting Practice Over 20 years of enterprise scale project and program management in a variety of industries Currently, concentrating on Program Risk Management and Agile Methodologies 4. 4 Who is a Stakeholder? A stakeholder is an individual, group, or organization who may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project. Page 29 - PMBOK 5th Edition Some examples of project stakeholders: Sponsor and Senior Executives Customers and Users Business Partners Functional Managers Help Desk / Customer Support WHO ELSE SHOULD BE A STAKEHOLDER? 5. 5 Additional Stakeholders Compliance & Ethics Accounting / Financial compliance Legal Insurance Operational Quality Assurance Audit Strategic Planning 6. 6 Stakeholder Roles & Responsibilities Provide support; improve relationships with other departments Monitor the project status Help to identify opportunities or threats facing project Address any issues that may raise Increase the factors which will lead to project success Reconfirm feasibility of a project 7. 7 What is a Steering Committee? An advisory committee is usually made up of high level stakeholders and/or experts who provide guidance on key issues. The Steering committee acts individually and collectively as a vocal and visible project champion throughout their representative organizations. 8. 8 Role of a Steering Committee Clear understanding of the project scope and Organization's strategic goals Ensures project performance of activities & approves project deliverables Governance of the project; help resolve issues and policy decisions Provide direction and guidance to the project Establishes risk tolerances & limits 9. 9 Stakeholder Management Stakeholder Management includes the processes required to identify the people, groups, or organizations that could impact or be impacted by the project, to analyze stakeholder expectations and their impact on the project, and to develop appropriate management strategies for effectively engaging stakeholders in project decisions and execution Stakeholder satisfaction should be managed as a key project objective! Page 390 - PMBOK 5th Edition 10. 10 What Risks are we Trying to Mitigate? Poor satisfaction scores from the sponsors Late delivery or over budget Issues at closing Low team morale Improperly identified requirements Unidentified key risks Negative project reviews 11. 11 NOW WHAT? Recognition Usage Cost Benefits 12. 12 Initiation Activities Include Stakeholder Management into the Charter Schedule some time for communication activities Forecast a budget for resources, travel and other expenses Add Stakeholder Management Framework (SMF) section into the Project Governance So, what is SMF? 13. 13 Stakeholder Management Framework 14. 14 Step 1: Identify Project Charter / Governance Procurement Documents Governmental and Industry Standards Enterprise Specific Requirements Ensure that minimum Regulatory and Compliance Needs are Satisfied! Then Create a Stakeholder Register 15. 15 Stakeholder Register Name Role Department Contact Info John VP IT Email Mary SVP Marketing Phone Rose Controller Legal Location Adam SME Sales This will grow over the life of the project! 16. 16 Step 2: Assess Assess the potential impact each stakeholder generates; What motivates them? Do they have a financial interest? What do they want to hear? How much do they want to know? Are they Regulators or Internal Audit? Classify them in groups, such as low, medium, or high Define the assessment approach 17. 17 Step 2: Assess (Cont.) Update Stakeholder Register Name Fin. Appr. Charter Appr. Interest Impact Authority John Yes Yes High High High Mary Yes Yes Low High High Rose No Yes Med Med Med Adam No No High Low Low 18. 18 Step 3: Prioritize There are multiple prioritization models: Power & interest Level of authority (power) and level or concern (interest) Power & influence Level of authority (power) and active involvement (influence) Influence & impact Active involvement (influence) and ability to effect changes to the projects execution (impact) Salience model Power (ability to impose their will), urgency (need for immediate attention), and legitimacy (their involvement is appropriate) 19. 19 Step 3: Prioritize (Cont.) Place them in a chart: Page 397 - PMBOK 5th Edition 20. 20 Step 4: Manage Plan How to Manage Stakeholders Develop management strategies Have an actionable plan Establish Ground Rules Develop roles & responsibilities Introduce participants prior to the Steering Committee Have decision makers Establish Communication Protocols: Type: Email, Face to Face Meetings, Conf Calls Content: Dashboard, KPIs, Status updates, Relevancy: Generic or Specific to their interest 21. 21 Effective Stakeholder Management Clearly identified and agreed upon Roles & Responsibilities which are documented and communicated to all participants Existence and adaptation of a framework is transparent and repeatable Risk Management should be fully embedded in stakeholder management and consistently applied Existence of an organizational culture which supports well-thought-through stakeholder management Status of the stakeholders actively monitored and regularly reviewed on a constructive basis. 22. 22 SUMMARY Risks: Missing key participants Distributing inaccurate information Creating unrealistic expectations Incorrect image of project Uncertainty about the project future Mitigations: Identifying, Assessing, Prioritizing and Managing Stakeholders Establishing Steering Committee Governance Steering committees are designed to improve Communication, Interest and Understanding! 23. 23 Thank you! Christine Aykac, PMP, PMI-RMP, PMI-ACP Consultant - Program Manager Trainer christine@wareness.com www.wareness.com Linked in: christineaykac Twitter: aykac 24. 24 CHRISTINE AYKAC, PMP, PMI-RMP, PMI-ACP Project Manager, Agile Practitioner, Consultant, Facilitator & Trainer Key Designations: PMP (2001), PMI-RMP (2010), PMI-ACP (2012), Kepner-Tregoe (2013) Specializes in: Project Management Methodologies Agile Project Management Risk Management & Risk Maturity Model Decision Analysis & Problem Solving Project Governance Regulatory Compliance (AIRB, PCI, ISO) Process Improvements 25. 25 WARENESS TRAINING & CONSULTING Wareness is a service-oriented consultancy firm solely focused on the training needs of our customers! Certification Courses (Classroom, Virtual or eLearning) Project Management - PMP, PRINCE2, ACP, CSM Service Management ITIL, COBIT, TOGAF, HDI, TIPA Decision Analysis Kepner-Tregoe Governance - ISO/IEC 20000, 27000, 27005, ISO 22301 Emerging Technologies Cloud PCA, PCSM, PCSA Professional Development Team Building, Critical Thinking, Risk Management Customized Learning & Services Workshops Lunch & Learn Sessions 26. 26 ITPRENEURS Copyright 2011 ITpreneurs Develops and delivers education solutions for IT best practice frameworks such as ITIL, COBIT, ISO/IEC, Project Management, CompTIA, ITpreneurs offers blended classroom (physical/on-site & virtual), eLearning, virtual, and game based learning across the world Major clients includes Deloitte Consulting, Deloitte &Touche, ING, IBM, Accenture, Hewlett-Packard, US Navy, CA and more.