Managing Stakeholder Expectations

There is a distinct need to manage stakeholder expectations in all projects as the expectations from the project varies from stakeholder to stakeholder. For example, a marketing head would want a solution that will help him to keep track of all the product changes while the sales manager would want a solution that will help him to keep track of the choices of his customers.  It is advisable that the project manager take care to address, identify and understand who the different stakeholders are, their expectations from the project and any vested interests, potential impact and influence they may have on the project outcome. Waiting till the Implementation phase to identify and understand this is too late for taking suitable actions.

The project manager will have to do a Stakeholder Analysis for making the Project Management Plan to identify the different needs, set priorities and see which requirements have to be fulfilled in the project for each stakeholder for the project to be considered a success by them.  Doing this helps the project manager to earn more support and cooperation and less opposition from the stakeholders.

Steps for undertaking a stakeholder analysis

We provide Generalise solution keeping all the departments in the CRM

Make a list of all the project’s stakeholders.

For each stakeholder understand

  • the key requirements which must be met for them to be satisfied
  • chances of getting support for the project from the stakeholder
  • their likely change requirements

Analyze the interests of each stakeholder in the project and rate this on a scale. For example, this could be a scale of 1 to 4 e.g.

  • Vital
  • Significant
  • Some effect on time/cost/quality and
  • No effect

See what actions must be taken to meet the important objectives of the stakeholder and also look into what help can be obtained from different stakeholders to achieve project success.

See what actions must be taken to incorporate the changes needed from the above steps and incorporate them in the project’s WBS.