Verzuh defines " stakeholder" in a very simple and straight forward manner. Anyone who participates and is impacted by the project is a stakeholder. Successful project management involves coordinating, guiding and satisfying all the stakeholders. A project manager faces a seemingly arduous, even impossible task of identifying, leading and managing the core project team and everyone else with vested interest/stake in the project. Stakeholders contribute to the project in terms of funding, expertise and authority.
Project manager is the central figure around which other stake holders revolve to achieve the goals of a project. Skills and techniques of project management enable him or her to balance the multi-faceted role, a project manager has to play. One of the main tasks a project manager has to perform is to identify all the stakeholders of the project including himself/ herself. The project manager has to ascertain his own scope of authority, reporting obligations, rules and expectations.
The other key stakeholders are the core project team, peripheral team members, functional management, sponsors and customers. The core project team members are responsible for doing most of the work . They provide skills, expertise, time and effort required to run and complete the project. The project team managers are decided in the planning stage of a project. The responsibilities, roles, level of involvement of all team members are documented in statement of work.
Another pivotal stakeholder is the customer who has the ultimate say in determining whether the project is successful or not. Customer provides financial resources for the project. So, it is important to accurately define a particular group as customer for the purpose of cost benefit analysis of the project.
Chapter 4
Every time a project begins, a new set of roles and responsibilities emerge. A firm foundation of of project specific rules has to laid. Project rules are created to address the following three factors:
1. Agreement by all stakeholders on the what the project has to achieve.
2. Scope of the project.
3. Management support.
The many stakeholders involved in the project i.e customers, management, project team need to agree on the documented goals, guidelines and rules of the project. It is a tough task to get so many parties to agree but it is impossible to propel the project off the ground without it. A project has to meet its stakeholder's expectations. These documented expectations become basic project rules.
The scope of every new project brings its own unique challenges. It has its own time and budget constraints. Overruns in terms of schedule and cost can pose a threat to a project. My capstone project deals with a situation wherein an organization despite having a unique as well as good quality product, is facing serious consequences because of cost overruns on its major ongoing projects.
Verzuh's example of 'Mission:Impossible' is an interesting example to launch into the subject of project charter. A project charter formally recognizes and announces the new project. It establishes expert and legitimate authority for the project. Customer and project sponsor are the best stakeholders to sign a charter. A significant change makes the existing charter obsolete and necessitates the issuing of a new charter.
SOW is probably a familiar document for all of us. It describes purpose, scope, goals, constraints and rules of a project. All stakeholders have to consider the statement of work, negotiate and modify it, if needed and finally agree to its contents.
The next step after the SOW is to prepare a responsibility matrix. This written document precisely defines the responsibilities of each party involved. It lists the major steps and activities of a project with appropriate stakeholder group and its authority.
Chapter 4
Every time a project begins, a new set of roles and responsibilities emerge. A firm foundation of of project specific rules has to laid. Project rules are created to address the following three factors:
1. Agreement by all stakeholders on the what the project has to achieve.
2. Scope of the project.
3. Management support.
The many stakeholders involved in the project i.e customers, management, project team need to agree on the documented goals, guidelines and rules of the project. It is a tough task to get so many parties to agree but it is impossible to propel the project off the ground without it. A project has to meet its stakeholder's expectations. These documented expectations become basic project rules.
The scope of every new project brings its own unique challenges. It has its own time and budget constraints. Overruns in terms of schedule and cost can pose a threat to a project. My capstone project deals with a situation wherein an organization despite having a unique as well as good quality product, is facing serious consequences because of cost overruns on its major ongoing projects.
Verzuh's example of 'Mission:Impossible' is an interesting example to launch into the subject of project charter. A project charter formally recognizes and announces the new project. It establishes expert and legitimate authority for the project. Customer and project sponsor are the best stakeholders to sign a charter. A significant change makes the existing charter obsolete and necessitates the issuing of a new charter.
SOW is probably a familiar document for all of us. It describes purpose, scope, goals, constraints and rules of a project. All stakeholders have to consider the statement of work, negotiate and modify it, if needed and finally agree to its contents.
The next step after the SOW is to prepare a responsibility matrix. This written document precisely defines the responsibilities of each party involved. It lists the major steps and activities of a project with appropriate stakeholder group and its authority.
Finally, a sound communication plan is laid out to effectively exchange information and provide feedback in an ongoing project. Disputes and conflicts often occur in the absence of a written communication strategy. The importance of communicating appropriate information to the right party in a timely manner can not be overstated.
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