LSA Global Insights Newsletter: 3 Proven Steps to Better Manage Project Stakeholder Risks

10.31.2014

3 Proven Steps to Better Manage Project Stakeholder Risks


Is it really true that on time, on budget and fulfilling all requirements means project success?

Whose requirements are we really trying to meet anyway?

And who decides if the original due date can be changed when the scope grows?

In this article we'll address the key people swirling around your project: stakeholders. You'll find some tips and other resources for optimizing stakeholder involvement in your project. "Who cares?" "What do they care about?" "What am I going to do about it?" Those are the three simple questions a project team can ask to understand their stakeholders and develop a strategy for keeping them happy.

As we developed an interactive workshop on stakeholder management built on those three questions, one of our project management experts put all the pieces together when he said, "That's just risk management for people." We think he's right.

Review this classic risk management process. Can you see the parallel?

  1. Identify risks.
  2. Analyze and quantify the risk.
  3. Develop a risk response.
So on your next (or current) project, consider treating your stakeholders as opportunities or threats and follow the three proven tips in this article to manage and exceed expectations of who matters most to your success.

Read More about Managing Stakeholder Risk

About LSA Global
Founded in 1995, LSA Global is a leading performance consulting and training firm that helps high growth technology, services, and life-science companies create a competitive advantage by powerfully aligning their culture and talent with their strategy. Learn more about getting aligned