登录查看更多内容

What are the most effective ways to manage stakeholder feedback on project budgets?

由人工智能和领英社区提供技术支持

Project budgets are often subject to change due to various factors, such as scope creep, market fluctuations, or unforeseen risks. As a project manager, you need to communicate these changes effectively to your stakeholders, who may have different expectations, interests, and opinions on how to allocate the resources. How can you manage stakeholder feedback on project budgets without compromising the quality, scope, and timeline of your deliverables? Here are some effective ways to do so.

此文章中的业界达人

由社区从 3 条内容中精选。了解更多

Mani Kumar Kolipakula

- CRM Practice leadership drives Customer centric approach. - Focused on Innovation and Growth along with culture and…
V Sriram Kumar Koppireddy

Business Transformation and Technology Leader (Fin, SCM, HR Payroll Systems, ERP, Cloud and RPA), Passionate…

1 Define the budget process

Before you start working on your project budget, you should define the process of creating, reviewing, and updating it. This includes identifying the roles and responsibilities of the budget team, the sources and methods of estimating costs, the frequency and format of budget reports, and the criteria and procedures for approving changes. You should also document the assumptions, constraints, and risks that affect the budget, and how you will handle them. By defining the budget process, you can set clear expectations and guidelines for your stakeholders, and avoid confusion and conflicts later on.

添加您的观点

V Sriram Kumar Koppireddy

Business Transformation and Technology Leader (Fin, SCM, HR Payroll Systems, ERP, Cloud and RPA), Passionate motivational speaker
举报内容
Start by making sure stakeholders are equal partners in the budgeting process. While budgeting is something they all want to be involved in, they usually look at the final numbers and maybe a breakdown. Have budgets process tied to sections of requirements based on complexity with a callout of unclear requirements needing rework etc. That way stakeholders feel it's a process and not a quote as per the situation

已翻译

赞

2 Engage stakeholders early and often

One of the key principles of stakeholder management is to engage them early and often throughout the project lifecycle. This means involving them in the budget planning, analysis, and approval stages, and soliciting their input, feedback, and buy-in. By engaging stakeholders early and often, you can build trust and rapport, understand their needs and concerns, and align their expectations with the project objectives and constraints. You can also identify and resolve any issues or disagreements before they escalate and impact the project performance.

添加您的观点

V Sriram Kumar Koppireddy

Business Transformation and Technology Leader (Fin, SCM, HR Payroll Systems, ERP, Cloud and RPA), Passionate motivational speaker
(已编辑)
举报内容
Making them partners in success and crime(methamorphically) is key. When you have a pre determined guide to work and cost based on complexities, and then tie requirements to units of cost, they feel they are part of the process and an impending success as well. Prioritize to call out exceptions like unclear requirements and rework as separate so they are also partners in crime in case there is scope creep

已翻译

赞

3 Use feedback tools and techniques

To effectively manage stakeholder feedback on project budgets, you should use tools and techniques such as surveys, questionnaires, interviews, focus groups, workshops, meetings, and feedback loops. Surveys and questionnaires are useful for gathering quantitative and qualitative data from a large number of stakeholders, while interviews and focus groups can provide in-depth information from a small group of key stakeholders. Workshops and meetings are beneficial for facilitating dialogue and collaboration between different stakeholders to reach consensus or compromise. Lastly, feedback loops ensure that the feedback is acknowledged, addressed, and incorporated into budget revisions while also informing stakeholders of the outcomes and actions taken.

添加您的观点

4 Prioritize and validate feedback

When dealing with stakeholder feedback for a project budget, it is important to prioritize and validate the feedback based on its impact, urgency, and alignment with the project goals and scope. This can be done by taking into account the stakeholder's influence, interest, and power over the project, as well as assessing the feedback's feasibility, accuracy, completeness, compatibility with project requirements, standards, and regulations. Additionally, consider how the feedback contributes to the project value, quality, and benefits.

添加您的观点

5 Communicate feedback results and changes

Finally, you need to communicate the feedback results and changes to your stakeholders in a timely, transparent, and respectful manner. You should explain the rationale and implications of the budget changes, and how they affect the project scope, schedule, and quality. You should also highlight the benefits and risks of the budget changes, and how you will mitigate or manage them. You should use appropriate communication channels and formats, such as emails, reports, dashboards, or presentations, to convey the feedback results and changes to your stakeholders. You should also invite them to ask questions, share concerns, or provide further feedback, and address them promptly and professionally.

添加您的观点

6 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?

添加您的观点

Mani Kumar Kolipakula

- CRM Practice leadership drives Customer centric approach. - Focused on Innovation and Growth along with culture and cutting edge delivery. - Building and nurturing practice of high performing collaborative teams.
举报内容
It’s not just one of the above .. its combination of early involvement of stakeholders, leveraging right feedback tools and techniques to analyse impacts on time and budget remaining. Very important in my opinion, every PO should start having a mindset of entrepreneur who always thinks about time, market, important business feature and budget available to build, this helps us to reduce conflicts last minute as they are part of the journey not just a final owner to take the product.

已翻译

赞

Enterprise Software

+ 关注

给文章评分

我们借助人工智能创建了此文章。您认为这篇文章怎么样？

很棒不太好

举报此文章

查看全部

What are the most effective ways to manage stakeholder feedback on project budgets?

1

2

3

4

5

6

1 Define the budget process

2 Engage stakeholders early and often

3 Use feedback tools and techniques

4 Prioritize and validate feedback

5 Communicate feedback results and changes

6 Here’s what else to consider

Enterprise Software

给文章评分

感谢您的反馈

更多Enterprise Software相关文章

更多相关阅读内容

What are the most effective ways to manage stakeholder feedback on project budgets?

1

2

3

4

5

6

1 Define the budget process

2 Engage stakeholders early and often

3 Use feedback tools and techniques

4 Prioritize and validate feedback

5 Communicate feedback results and changes

6 Here’s what else to consider

Enterprise Software

给文章评分

感谢您的反馈

查看其他技能