What do you do if stakeholders have unrealistic expectations in an ERP project?

I was asked this question recently by an ERP vendor's project manager.

Of course, there are the tried and tested answers on how to manage expectations, as mentioned elsewhere.

That doesn't take away from the fact that stakeholders (the client), do have, and should have expectations for their new ERP system. The reason they are embarking on the project in the first place is because they expect to improve several real business problems through the adoption of the new ERP system.

it is not a winning solution to lower the expectations of the client. After all, we want the client to be completely satisfied, and they won't be, if the feel they got less than they expected from their new ERP system.

But what do we mean by, expectations? Primarily, there are the expectations of ERP functionality or feature performance, and project deliverables performance.

For the later, be they due to resources, scope creep, or time constraints, the onus is on articulating effectively with the client what is required to meet the expectation, and to work toward the AGREED effort, on both sides, to achieve the required expectation. When these expectations are not met, it should be clear how this came about, and where the onus lies in putting things back on track.

For the former, managing the expectations of ERP functionality, or how the system should function within the business process envelope, requires the joint application of the knowledge and expertise of the lead ERP consultant, and the senior members of the client project team. On the one hand to convey the reason for the expectation accurately, and on the other to define how this will be achieved through the new system. It is through this interplay of needs, and ideas, that a final solution can be defined and AGREED on. Through these processes expectations can be managed, and achieved to the clients, and yours, satisfaction.

Holding up the joint responsibility to this result is the way to achieve success.