Management Principles: Effectively Engage With Stakeholders

Explanation

The principle of “effectively engaging with stakeholders” in project management entails actively involving and interacting with everyone with a stake or interest in the project. This covers anyone affected by the project or able to influence its outcome. Expressed in more straightforward terms means ensuring that everyone involved in the project is aware of what is going on and has the opportunity to provide their opinions. This principle is critical because initiatives do not occur in isolation; they affect and are influenced by numerous people and groups.

To put this principle into action, project managers must identify all stakeholders. Then, they interact with them frequently, keeping them up to date on the project’s progress and any changes that may occur. This communication can take the form of meetings, emails, or reports. Additionally, listening to stakeholders is critical. Project managers do more than communicate with them; they also listen to their problems, suggestions, and criticism. This enables them to make judgments and changes to the project plan based on what stakeholders require and want. Consequently, addressing stakeholders’ demands implies ensuring that the project meets their expectations (Kerzner, 2018). To suit the needs of stakeholders, deadlines, budgets, and project scope may need to be adjusted. Finally, this principle emphasizes developing and sustaining positive stakeholder relationships. Project managers strive to make stakeholders feel appreciated and heard, maintaining their support and collaboration throughout the project (Bahadorestani et al., 2020). As a result, successfully interacting with stakeholders is critical for successful project management because it ensures that everyone is on the same page and working toward the same objectives. It leads to more excellent results and fewer issues along the way.

Analyzing and Interpreting

The principle is critical in project management since it directly impacts whether a project succeeds or fails. Stakeholders are essential in any project since they can influence its result. By adequately engaging stakeholders, project managers can receive valuable insights, support, and cooperation necessary for project success. This principle was included among the 12 because failing to address stakeholders’ demands and concerns might result in misunderstandings, conflicts, and resistance (Derakhshan et al., 2019). Without effective participation, stakeholders may disengage or work against the project’s goals. As a result, identifying and addressing stakeholders’ interests early on is essential to project success.

Effective stakeholder engagement helps projects succeed by encouraging collaboration, aligning expectations, and ensuring everyone works toward the same goal (Gido et al., 2018). When stakeholders feel appreciated and included, they are more inclined to offer assistance, resources, and knowledge, resulting in more efficient project execution and better outcomes. Failure to involve stakeholders can lead to project delays, cost overruns, and even project failure (PPM-Week2-Spring24). For example, if key stakeholders are not consulted or informed about critical decisions, they may feel neglected or resistant to project modifications, stifling development and eventually leading to project failure.

Regarding the four PM values, the principle closely relates to Responsibility, Respect, Fairness, and Honesty.

• Responsibility: Project managers ensure stakeholder engagement and meet their needs throughout the project’s lifespan (PPM-Week3-Spring24). This includes actively listening to stakeholders, responding to their concerns, and making decisions based on their interests.
• Respect: Effective stakeholder involvement shows respect for stakeholders’ viewpoints, expertise, and contributions. Project managers value stakeholder feedback and handle them with respect and regard.
• Fairness: Fair engagement with stakeholders entails ensuring that all relevant parties can participate in project discussions and decision-making processes (PPM-Week2, Spring 24). It also entails treating stakeholders fairly and transparently without prejudice or bias.
• Honesty: Project managers must communicate honestly and transparently with stakeholders, delivering accurate and timely updates on the project’s progress, obstacles, and outcomes. Honesty fosters trust and credibility among stakeholders, resulting in stronger relationships and collaboration.

Recommendations

Project managers can improve the implementation of the “Effectively engage with stakeholders” principle by focusing on clear and consistent communication. This entails identifying stakeholders early in the project and establishing open communication channels. Active listening is critical for understanding stakeholders’ wants and concerns, allowing project managers to address them effectively (PPM-Week4-Spring24). Furthermore, integrating stakeholders in decision-making promotes ownership and meets project goals (Kerzner, 2018). As a result, adapting communication techniques and messages to stakeholders’ preferences increases engagement and fosters transparency. Furthermore, developing strong connections based on respect and trust is critical for keeping stakeholder support throughout the project. Moreover, conflict resolution should be handled quickly and appropriately to avoid disruptions and maintain project momentum. Finally, continuous monitoring of stakeholder engagement levels enables project managers to adjust communication techniques as needed, assuring ongoing collaboration and project success.

References

Bahadorestani, A., Naderpajouh, N., & Sadiq, R. (2020). Planning for sustainable stakeholder engagement based on the assessment of conflicting interests in projects. Journal of Cleaner Production, 242, 118402.

Derakhshan, R., Turner, R., & Mancini, M. (2019). Project governance and stakeholders: a literature review. International Journal of Project Management, 37(1), 98-116.

Gido, J., Clements, J., & Baker, R. (2018). Successful project management. Cengage Learning.

Kerzner, H. (2018). Project management best practices: Achieving global excellence. John Wiley & Sons.

PPM-Week1-Spring24. Principles of Project Management Week 1. NYU Spring 2024.

PPM-Week2-Spring24. Principles of Project Management Week 2. NYU Spring 2024.

PPM-Week3-Spring24. Principles of Project Management Week 3. NYU Spring 2024.

PPM-Week4-Spring24. Principles of Project Management Week 4. NYU Spring 2024.