Stakeholder Management emerges as a vital element in the execution of a successful project in relation to the public.
Invest time in identifying and ranking stakeholders and assessing your needs provides a solid foundation for building an interaction strategy. A deep understanding of the stakeholders, supported by a solid interaction plan of a strategic, clear and prioritized nature helps to develop and maintain the relationship, mitigate risks, align business objectives and avoid misunderstandings and disorientation.
In a context of growing legislation around the protection of privacy and the right to information, it is even more critical that an organization or project has a plan and protocols for stakeholder management clearly defined. The risks of not adopting a systematic and controlled approach to this management are high and increase in line with the expectations of the community where we carry out our activity.
Projects do not exist in isolation. Even if there is a defined briefing, budget, program and scope of work, any project is also subject to external influences. An organization or company exists in a “political” environment, inhabited by all those who have a certain participation or interest in its results. This environment and the expectations generated represent a significant risk.
It is unlikely that the requirements of all stakeholders will coincide and they will seek to exert their influence to ensure their own needs. This pressure generates change and the change increases the complexity of the management task, putting the cost and implementation of the outlined plan at risk.
If the vision of the stakeholders is not addressed and if they are not involved in the development of the business, it is unlikely that it will deliver the expected value for all involved. It is important that management in an organization finds the right balance between the involvement of these “stakeholders” and their isolation from external influences, in order to achieve their goals and maximize benefits for the customer and other priority targets.