Stakeholder Analysis is key for project success!!

The September edition of All PM Today, the IIL Newsletter (see: www.allpm.com) in its monthly poll posed the question “Stakeholder analysis is a key factor for project success?” The answer was an overwhelming ‘yes’. The results published today (October edition) are:

Stakeholder analysis is a key factor for project success
a) For all projects regardless of size – 95.41 %
b) Only for mission critical projects – 0 %
c) Only for projects that are politically sensitive – 3.67 %
d) Stakeholder analysis is minimally important – 0.92 %

Compared to the level of interest a year or so back, we are seeing similar trends in enquiries about the Stakeholder Circle® – maybe at last the vast majority of PMs are recognising that project success is directly associated with fulfilling stakeholder expectations. The 1% who voted ‘no’ may find my paper Avoiding the successful failure! helpful.

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2 Responses to Stakeholder Analysis is key for project success!!

  1. Andrew Warner says:

    Hi Lynda,
    your approach seems very pragmatic but also insightful. I really like it as a project management tool and recently bought your book but my communications manager pinched it so I haven’t read it yet.

    My question, if you’re still monitoring this blog, is can you use the approach for organisational stakeholder relationship management? Even withint a project the stakeholder community can ebb and flow. For a full-blown multi-faceted organisation (or even an individual – another interesting topic) there are many different potential dimensions to stakeholders. Most stakeholders will have several different perspectives of the same organisation at the same time. Perhaps the perspectives will involve different parts of the organisation and perhaps they won’t.

    I notice in some of your material you talk about stakeholder relationship management for organisations. Do you espouse the use of the stakeholder-circle(TM) method or is it more complicated than that?

    Kind Regards,
    Andrew.

    • stakeholdermanagement says:

      Hi Andrew,

      The methodology is only really successful if it is the way an organisation does business. The foreword to my book was written by the MD of APM Terminals. They used the methodology for their port operations world-wide.

      When you get your copy of the book back…… you will see the second half is focused on developing the organisational culture needed to engage with stakeholders successfully. The SRMM methodology is outlined at http://www.stakeholdermapping.com/ (we have a lot of work o do on this website but the useful bits are posted).

      There is a strong cross link between stakeholders and risks. We suggest updating the stakeholder assessment as a precursor to the organisations risk review processes (between 2 and 4 times a year). This allows time for the communication and engagement strategies to work (or fail) without letting problems grow for too long.

      Lynda.

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