You're facing delays in a product innovation project. How can you effectively communicate with stakeholders?

I would also be super transparent with the stakeholders on the reasons for the delay (even if it has been the team's fault) and also provide the solution to the issue and a realistic timeframe IN THE SAME DISCUSSION in which you communicate the delay.

To effectively communicate with stakeholders about delays in a product innovation project, I provide clear and transparent updates on the situation, including the reasons for the delay and its impact on the project timeline. I present a revised plan with new milestones and timelines, outlining the steps being taken to address the issues and mitigate further delays. Regular, honest communication helps manage expectations and maintains stakeholder confidence. Additionally, I invite feedback and address any concerns to ensure stakeholders feel informed and involved in the updated project trajectory.

En cualquier proyecto de innovación, la clave está en involucrar a los principales stakeholders desde el inicio de la fase de ideación. Un área de innovación no es un equipo de consultoría y agencia, que entrega a otros departamentos proyectos listos para ser lanzados al mercado. Cualquier área de innovación debe ser tratada como parte del equipo estratégico, para nutrirlo de datos, feedback y apoyo desde el inicio del desarrollo de cualquier proyecto de innovación. De este modo, ante cualquier contratiempo, todas las partes estarán alineadas y trabajarán conjuntamente en solventarlo.

Assess the impact to time and resources as well. Always come with possible solutions and not just problems so that stakeholders can make the best possible decision

While planning forward is crucial, I believe we need to approach this more dynamically. Instead of just presenting a revised plan, let's involve our stakeholders in crafting the solution. I propose we hold a collaborative workshop with key stakeholders. We'll brainstorm innovative ways to overcome the delay, tapping into their diverse expertise. Let's focus on flexibility rather than rigid plans. We should create an adaptable framework that can evolve as we progress. This might include setting up regular check-ins to reassess and adjust our strategy. I also suggest we view this delay as an opportunity for improvement. Can we use this time to enhance product features or explore new market opportunities?

It's also important to take a temperature check on a regular basis in a clear unmistakable way. E.g weekly reporting with a health gauge, product dashboards

Managing expectations requires a balance of optimism and realism. It's important to stay positive about overcoming challenges, but also to avoid making promises that might not be feasible. Setting achievable targets and presenting stakeholders with both best-case and worst-case scenarios helps prepare them for potential outcomes. This approach not only reduces the risk of disappointment but also builds trust, as stakeholders are kept informed and are better equipped to handle any unexpected developments.