Project Management Relationship (ANSWERED)

QUESTION

List three reasons why understanding stakeholders is important to successful project management. What is the difference between an internal and external stakeholder? Name three criteria you should consider when prioritizing stakeholders. When should relationship building between the project manager/other core team members and important stakeholders occur? What are some ways to build relationships within the core team? What are some ways to build relationships with key stakeholders?

Your final submission should be 2-3 pages in length excluding the title page, abstract, and reference page
using APA formatting.

ANSWER

Abstract

Project management is increasingly gaining attention over the last few years. Project management requires that there exists a relationship between the core team members, stakeholders and the project manager, which is supported by understanding and prioritizing. Understanding stakeholders helps build a relationship that will reduce antagonistic tendencies among them regarding various parts of the project and promote a positive outlook regardless of the outcome. Understanding should also incorporate prioritizing stakeholders according to the power they hold, influence, and interest. To build a relationship with the core team members, connect change management to their individual goals, be ready to share and learn from them, and address their concerns efficiently. At the same time, build a relationship with the important stakeholders through proper, clear and consistent communication, show your competency, and follow up on the hard-to-crack stakeholders to resolve differences.

Project Management: Role of Stakeholders and Relationship-Building between Project the Manager and Stakeholders

Stakeholders form an integral part of organization processes, from management to internal and external relationships. The two groups of stakeholders; are the internal stakeholders whose interest in the organization is through a direct relationship like employment, ownership, or investment, and the external stakeholders who are not directly connected to the organization but are somehow affected by the organization’s operational outcomes. Since project management is not a one-man job, it requires input from the core team members and the stakeholders. Therefore, understanding stakeholders is important for successful project management for many reasons.

First, stakeholders have a unique stance to project management. Various stakeholder groups may have different opinions, i.e., supportive, antagonistic, in favor, or against specific decisions. Understanding stakeholders helps build a relationship that will reduce antagonistic tendencies among them regarding various parts of the project and promote a positive outlook regardless of the outcome (Davis, 2017). Secondly, understanding stakeholders can help project managers comprehend the investment process, i.e., they will know the key decision-makers and create communication channels with the right people (Jitpaiboon, Smith, and Gu, 2019). Lastly, it helps project managers discover people with relevant expertise to uncover risks related to project stalling or failure. Since stakeholders have the necessary knowledge about the relevant project processes and information, understanding them becomes the first thing in the project manager-stakeholder relationship.

As noted, stakeholders hold a special position in an organization. Thus, they should be prioritized according to specific metrics that create an advantage to the organization’s processes, like project management. The three criteria used to prioritize stakeholders in project management include; the power they hold, influence, and interest (Aragonés-Beltrán, García-Melón, and Montesinos-Valera, 2017). Project stakeholders yielding a high amount of power are likely to have low interest in the project. Moreover, they have high authority such that they often have less interest in the project outcomes. Although they sound like the best stakeholders, they should be handled with care because they can easily shift and develop an interest in the project, monitor every detail of it, and assess every micro-decision made. The more the stakeholders with high authority become interested in being involved in the project, the more the project manager needs to work extra hard to keep them satisfied (Aragonés-Beltrán, García-Melón, and Montesinos-Valera, 2017). Therefore, the stakeholders’ power and influence will determine their interest in the project. The stakeholders may have the power to block a project or support and advance it to another level.

Having prioritized the stakeholders, it is crucial to consider other factors subset to effective project management. For instance, the project needs communication and exchanging ideas, which calls for relationship building. Relationship building should begin during the early stages of the project to avoid any relationship erosion or disagreement when the project is midway or near completion. If possible, relationship building should begin immediately after the stakeholders and core team working with the project manager has been chosen to plan for the project commencement.

To build relationships within the core team, involve the change management aspects to connect them to their individual goals. You can integrate change management into the processes to enable them to adjust and support your leadership in the project. At the same time, as the project manager, you should stoop and become a student to avoid the necessary know-everything notion the employees may pick from your leadership. Be ready to learn, as this is the most effective trait for most leaders. Lastly, you can be keen on their concerns and address them adequately.

Similarly, relationship building with the important stakeholders begins by understanding their authority on the said project. Therefore, you must ensure that you communicate clearly and eliminate all ambiguities that may lead to misunderstandings and disagreements. Part of what is to be communicated is the project scope, which carries important details (Ika and Donnelly, 2017). Communicating clearly may establish trust as you have shown that you prioritize them and want them to be involved in the project as much as possible. While you may find consistency challenging, you can schedule messages to ensure you have passed the intended information along. If you discover that some stakeholders may be against change, meet them in person and try to understand their points of view. Otherwise, one-on-one communication, showing your competence, and understanding stakeholders as individuals and then as a group will contribute to positive relationship-building.

In summary, project managers, the core team, and stakeholders have specific roles in a project. They, therefore, need to work hand in hand to ensure that the project goals are achieved at the end of the day. Building relationships should not be bent towards the project managers but be supported by the willingness of the team members and the stakeholders to have an understanding and a positive relationship that will, in turn, affect the project positively. Prioritizing stakeholders, communicating, and understanding should be mutual among all players within the project.

References

Aragonés-Beltrán, P., García-Melón, M., & Montesinos-Valera, J. (2017). How To Assess Stakeholders’ Influence In Project Management? A Proposal Based On The Analytic Network Process. International Journal Of Project Management, 35(3), 451-462. https://doi.org/10.1016/j.ijproman.2017.01.001

Davis, K. (2017). An Empirical Investigation Into Different Stakeholder Groups Perception Of Project Success. International Journal of Project Management, 35(4), 604-617. https://doi.org/10.1016/j.ijproman.2017.02.004

Ika, L. A., & Donnelly, J. (2017). Success Conditions For International Development Capacity Building Projects. International Journal of Project Management, 35(1), 44-63. https://doi.org/10.1016/j.ijproman.2016.10.005

Jitpaiboon, T., Smith, S. M., & Gu, Q. (2019). Critical Success Factors Affecting Project Performance: An Analysis Of Tools, Practices, And Managerial Support. Project Management Journal, 50(3), 271-287. https://doi.org/10.1177/8756972819833545