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