Effective Stakeholder Management is not about just ticking the boxes, but actively seeking Stakeholder engagement.

Along with a robust Governance and Assurance plan, a Communication Plan endorsed by Key Stakeholders ensures pre-defined and periodic communication of useful information to the wider audience.

An integral part of Stakeholder Management is not only identifying who forms part of each stakeholder group but also within the definition of what information interests each stakeholder. Too much information communication to stakeholders in most cases drowns them without reproach and conversely, too little information leaves stakeholders divested and disengaged.

Distilling accurate and relevant information from the scope, schedule or cost elements throughout each project phase and keeping stakeholders informed is imperative to ensure ongoing metric transparency. Transparency allows stakeholders to weigh in on the big issues in order to realign the project with the strategic objective in the case of major project change or a change in business conditions. Implementation of an effective Communication Plan will have a positive flow-on effect when managing project risks and ultimately help foster a team environment.

With Project Managers under more scrutiny than ever before, the ever-increasing thirst for stakeholders to be accountable further reinstates the importance of effective stakeholder management.

Author: Alex Hanly