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You’re trying to manage stakeholder expectations. How do you know which tools are right for the job?

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Managing stakeholder expectations is a crucial skill for any senior leader, project manager, or change agent. It involves communicating clearly, aligning interests, and delivering value to your stakeholders. But how do you know which tools are right for the job? In this article, we will explore some of the most common and effective tools for managing stakeholder expectations, and how to use them in different situations.

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Map your stakeholders:

Conduct a stakeholder analysis to identify and prioritize key players. By understanding their needs and influence, you can tailor your communication strategies to keep them engaged and satisfied.### *Clarify roles upfront:Use a RACI matrix to define each stakeholder's responsibilities. This eliminates confusion by clearly outlining who is responsible, accountable, consulted, and informed for each task or decision.

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Lisha Ravindran

Tech Risk Management | IT service…
Rui Pedro Duarte

Open Science for Mission | ex-Fortune…

1 Stakeholder Analysis

A stakeholder analysis is a tool that helps you identify and prioritize your stakeholders, based on their power, interest, influence, and attitude towards your project or initiative. It helps you understand their needs, expectations, concerns, and potential risks. A stakeholder analysis can be done using a simple matrix, a map, or a chart, where you plot your stakeholders according to different criteria. You can then use this information to plan your communication and engagement strategies, and to address any gaps or issues.

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Rui Pedro Duarte

Open Science for Mission | ex-Fortune 100 Communicator, ex-Member of Parliament
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Identifying stakeholders, figuring out how interested and influential they are, and coming up with ways to get them involved are all part of this process. This makes sure that you meet the needs of stakeholders and manage their expectations before they happen.

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2 RACI Matrix

A RACI matrix is a tool that helps you clarify the roles and responsibilities of your stakeholders, and avoid confusion or conflict. RACI stands for Responsible, Accountable, Consulted, and Informed, and it defines the level of involvement and authority of each stakeholder in a task or decision. A RACI matrix can be created using a table, where you list your tasks or decisions in the rows, and your stakeholders in the columns. You can then assign each stakeholder a RACI code, depending on their role. This way, you can ensure that everyone knows what they are expected to do, and who they need to communicate with.

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Lisha Ravindran

Tech Risk Management | IT service Operation | Vendor management
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RACI is in its way a very simple way to defines roles and expectations. Its a one-stop- shop to check who to reach out for what and who to consult with who decides. It in turns helps to let go of a merry-go- round set of emails, notes and conversations; thereby making its a smooth process and cuts out silos

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Rui Pedro Duarte

Open Science for Mission | ex-Fortune 100 Communicator, ex-Member of Parliament
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Managing stakeholders’ expectations is key for the success of any project. While RACI (Responsible, Accountable, Consulted, Informed) is a popular tool for clarifying roles and responsibilities, there are other tools and strategies that can be combined with or used alongside RACI for comprehensive stakeholder management:

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3 Stakeholder Register

A stakeholder register is a tool that helps you document and track your stakeholders, and their information, throughout your project or initiative. It helps you manage your stakeholder relationships, and monitor their feedback and satisfaction. A stakeholder register can be created using a spreadsheet, a database, or a software tool, where you record your stakeholders' names, contact details, roles, expectations, issues, and actions. You can then use this data to update your stakeholder analysis, your RACI matrix, and your communication and engagement plans.

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4 Communication Plan

A communication plan is a tool that helps you plan and execute your communication and engagement activities with your stakeholders. It helps you deliver the right message, to the right audience, at the right time, using the right channel. A communication plan can be created using a template, a calendar, or a software tool, where you define your communication objectives, your key messages, your communication methods, your frequency, your responsibility, and your evaluation. You can then use this plan to communicate effectively and efficiently with your stakeholders, and to manage their expectations.

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5 Feedback Loop

A feedback loop is a tool that helps you collect and analyze feedback from your stakeholders, and use it to improve your project or initiative. It helps you measure your performance, your impact, and your stakeholder satisfaction. A feedback loop can be created using various methods, such as surveys, interviews, focus groups, workshops, or online platforms, where you ask your stakeholders for their opinions, suggestions, or concerns. You can then use this feedback to adjust your project or initiative, to address any issues, and to meet or exceed your stakeholder expectations.

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Rui Pedro Duarte

Open Science for Mission | ex-Fortune 100 Communicator, ex-Member of Parliament
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Setting up ways for stakeholders to give and receive feedback makes sure that their concerns and ideas are heard and taken into account, which helps make sure that the project deliverables meet the expectations of stakeholders.

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6 Stakeholder Agreement

A stakeholder agreement is a tool that helps you formalize and finalize your stakeholder expectations, and your project or initiative outcomes. It helps you establish a clear and mutual understanding, a commitment, and a trust with your stakeholders. A stakeholder agreement can be created using a document, a contract, or a charter, where you specify your project or initiative scope, objectives, deliverables, milestones, roles, responsibilities, risks, and success criteria. You can then use this agreement to align your stakeholder expectations, to monitor your progress, and to evaluate your results.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Supriya Rai

Director of Product Delivery @ SambaTV and CPO @ Surf | Entrepreneur and AI Product Leader
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As a product leader, I rely on a mix of tools like stakeholder interviews, surveys, and collaboration platforms to gauge needs and preferences. Understanding the project scope, stakeholders' communication styles, and the level of detail required helps me choose the right tools. It's about finding the balance between efficiency, clarity, and engagement to effectively manage expectations and drive successful outcomes.

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You’re trying to manage stakeholder expectations. How do you know which tools are right for the job?

1

2

3

4

5

6

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1 Stakeholder Analysis

2 RACI Matrix

3 Stakeholder Register

4 Communication Plan

5 Feedback Loop

6 Stakeholder Agreement

7 Here’s what else to consider

Senior Stakeholder Management

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You’re trying to manage stakeholder expectations. How do you know which tools are right for the job?

1

2

3

4

5

6

7

1 Stakeholder Analysis

2 RACI Matrix

3 Stakeholder Register

4 Communication Plan

5 Feedback Loop

6 Stakeholder Agreement

7 Here’s what else to consider

Senior Stakeholder Management

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感谢您的反馈

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