Stakeholders are the lifeblood of any project. From project inception through to completion, stakeholders contribute vital resources, insights, and support. Their engagement ensures that the project remains aligned with its goals and responsive to changes. Yet, stakeholders are as unique as the human race. Whether investors funding the project, community members … [Read more...]
All projects have stakeholders. Like any area of life, no projects exist inside of a bubble. Although some more than others, every project must have a project sponsor (as a minimum) who created the project and expects some sort of deliverable. But most projects have so diverse an array of stakeholders that they must maintain a list in order to manage their … [Read more...]
Stakeholders' influence on a project, whether through real or perceived effects, can range from minor to game-changing. It is without a doubt that they play a critical role in shaping a project’s success—or its challenges. A stakeholder is anyone impacted by the project. Some champion the project, while others may resist it, and their "stakes" vary in size and … [Read more...]
Many project managers believe that delivering a project on time, within budget, and meeting all specifications guarantees success. While these are critical, they don’t tell the whole story. Every project is shaped by its stakeholders—individuals or organizations whose interests intersect with the project, whether supportive or opposed, aware or unaware. This includes … [Read more...]
It is surprisingly easy to forget about a minor project stakeholder who then exercises a disproportionately large influence over the project's success after they feel like they haven't been adequately consulted. It happens on countless projects every day. For this reason, project stakeholder management is used to obtain, or maintain, stakeholder support for the … [Read more...]
When Airbus faced delays in delivering the A380 Superjumbo in 2005 and 2006, software glitches weren’t the only fallout. The second delay tanked the share price by 26% and cost executives their jobs. This high-stakes saga reveals a core truth of project management: even a flawlessly executed plan falls short if the stakeholders aren’t satisfied. But who exactly are … [Read more...]
There's nothing more aggravating than cheering or the underdog and then watching the favorite team win with what seems like a complete stroke of luck. But ask anyone who has played a sport. The lucky bounces always seem to go to the better team. It seems to defy logic when a shot results in a lucky bounce that has very little to do with skill. You inspect and … [Read more...]
Project success criteria are sometimes fickle and elusive things. On paper, the budget and schedule feature prominently in every project. After all, a project is defined as a temporary endeavor to create a unique product or service. But most projects have a host of other criteria, like product quality, third party stakeholders, or end user evaluation results. And to … [Read more...]
When a patient is first wheeled into the emergency room, the first priority of any doctor is their vital signs, that is, pulse, breathing, body temperature, and blood pressure. Regardless of the injury, if the vital signs are not stable the patient is dying and all efforts must be directed toward stabilizing them prior to treating the original injury. Project management … [Read more...]
Monitor Stakeholder Engagement is the 4th out of four processes within the Project Stakeholder Management knowledge area within the Project Management Body of Knowledge (PMBOK). It occurs within the Monitoring & Controlling process group. The inputs, tools & techniques, and outputs are as follows: Monitor Stakeholder Engagement is the process … [Read more...]
