Support (or lack of) from internal and external stakeholders can make or break a project

In this series of blogs we’ve been outlining core skills that teams need for managing projects, programmes, and portfolios. In this last one, we’re discussing why stakeholder management is an essential ability.

The importance of stakeholder management

The public sector, as well as other organisations, are responsible for initiatives that involve many different internal and external stakeholders. And all of them will have varying needs, interests and priorities which need to be considered. But if their requirements are not met and managed well, this could lead to issues, such as:

• Delays and budget overruns
• Insufficient resources
• Lack of support
• Resistance and opposition
• And more…

The importance of effective stakeholder management skills

Internal and external stakeholders have a huge influence over resources, investments, and key project decisions. Which is why it’s so important to identify key stakeholders, communicate project objectives and status, manage expectations, and engage with them to get their input at every opportunity.

And this is why stakeholder support (or lack of support) can make or break a project.

Stakeholders have the power to contribute key project resources,  finances, guidance, team members, etc. But it’s also important to consider that if you neglect to share key information, align goals and objectives, and manage expectations, project outcomes could end up disappointing and disengaging stakeholders.

So, stakeholder management is vital for keeping stakeholders up to date and giving them the

information they need to make key decisions.

Some signs that your teams need to improve their stakeholder management skills

Here are some potential signs to look out for:

• Mismanaged expectations: Outcomes frequently disappoint stakeholders or fall short of their expectations
• Low stakeholder engagement: You struggle to engage and involve stakeholders in projects and miss opportunities for their input
• Lack of clarity: Stakeholders frequently misunderstand project objectives, deliverables or timelines due to a lack of communication
• Unresolved conflicts: Any conflicts that arise with stakeholders go unresolved and impact collaboration

How can ILX help?

Our Learning Hub is a complete digital learning solution for all your project, programme, and portfolio management training needs. Watch our webinar ‘Maximising Efficiency Key project management skills to help you do more with less’ to learn more about the importance of stakeholder management, and how the ILX Learning Hub can support you and your team.