Who are the Stakeholders and why they are important?

Dear Friends,

Let's understand Stakeholders

" Any person, group or organization who can be impacted due to project in other words project can also impacted due to them and vice versa. All such people are important for the projects and as a project manager you should understand how to deal with all stakeholders" !!!!        

Directions may be many but for understanding categorized into 4

Upwards

Downwards

Outwards

Sidewards

In the daily life you come across many stakeholders as it is your profession to deal with people having different skillset, mindset, culture, ethics and personality, as an integrator your role is to understand the expectations of the stakeholders and convert into the requirements so that you can park the same into the Requirement matrix and can be utilized for further monitoring and control.

Conflict management with proper communication matrix plays vital and important role in this journey as managing of stakeholders proven to be wrong word -----Instead

" Engaging with stakeholders proves to be better results for the benefit of the project and the organization"

Stakeholders can demand anything and expectations are very high at initial of the project, it is our responsibility to avoid gold plating and convert into requirements, as stated above for the reason, engagement is quite important.

Importance - for understanding the importance we need to go through the power and interest grid and park the stakeholders based on the quadrant.

After closely engage cum managing, Keep the stakeholders inform is quite important part of communication , sometime I have observed if something missed to inform to peers or outside stakeholders it can create chaotic environment in long run.

The above attached format of stakeholder register in the sourced from PMI and the personal document of PM , as he has to mention the current state of stakeholders and write down the desired state of stakeholder, he/she is willing to attain by using various project management techniques.

At last but not least " engaging instead of managing the stakeholders is the real game changer for the ease of the projects.

"Projects are possible to complete on time by the set of people having same mindset with common goal and direction in place.

Let us start Engaging....................................................

Author

Deepak Khurana