Stakeholder Engagement & Co-Creation: Reducing Project Risk

Stakeholder Engagement & Co-Creation Co- NJ PMI Chapter Business-Savvy Project Management May 3, 2010 Stakeholder Engagement & Co-Creation: Reducing Project Risks Jenny Ambrozek, Participation Architect & Victoria G. Axelrod, Organization Strategist http://c21org.typepad.com 914-478-1074 & 212-369-2885 PMI NJ Symposium Presentation 1 © SageNet LLC & Axelrod Becker Consulting 2010 May 3, 2010

Stakeholder Engagement & Co-Creation Co- net∞WORK Mindset Required © SageNet LLC & Axelrod Becker Consulting 2010

Stakeholder Engagement & Co-Creation Co- Organizations as Complex Networks Value Networks Customer Co- Creation Partner Networks Knowledge Networks Supply Chains Industry Groups Innovation Communities of Practice High Performers Alumni Networks Business value is created through interaction. Relationships build capital. © SageNet LLC & Axelrod Becker Consulting 2010

Stakeholder Engagement & Co-Creation Co- © SageNet LLC & Axelrod Becker Consulting 2010

Stakeholder Engagement & Co-Creation Co- Application 1. Why projects fail? 2. Case for Co-creation and net∞WORK 3. Personal Network Drawing & Discussion 4. 7 Project Co-creation Essentials Hash Tag # PMINJSEC © SageNet LLC & Axelrod Becker Consulting 2010

Stakeholder Engagement & Co-Creation Co- What Common Factors Cause Projects to Fail? Discussion © SageNet LLC & Axelrod Becker Consulting 2010

Stakeholder Engagement & Co-Creation Co- Any Project Starts with Business Strategy © SageNet LLC & Axelrod Becker Consulting 2010

Stakeholder Engagement & Co-Creation Co- Co-Created Project Road Map User/Audience Marketing Investors Development Team Concept Management Team © SageNet LLC & Axelrod Becker Consulting 2010

Stakeholder Engagement & Co-Creation Co- Why Projects Fail? Networks not Working People, Roles, Stakeholders Internal & External, Content & Information Flow b © SageNet LLC & Axelrod Becker Consulting 2010

Stakeholder Engagement & Co-Creation Co- Facebook Groups in Business Investigation PMI NJ Symposium Presentation 10 © SageNet LLC & Axelrod Becker Consulting 2010 May 3, 2010

Stakeholder Engagement & Co-Creation Co- Francois Eric Edelstein Gossieaux Adam Kovitz Dave Duarte eSquared RNIA Niki Lambropoulos Kimberly Samaha Jenni Beattie Ray Cha Huddlemind Marketing 2.0 Sustainable Energy Hellenes Educators Network PR CScout London Jewish , Participating Facebook Groups & Owners People Make Projects Succeed •10 participating Facebook Groups •6 countries, 4 continents •6 real world entities on Facebook •retail chain, software venture, trend consultancy, think tank, PR company, real world organization Jenny Ambrozek Bill Anderson Victoria Axelrod 21stCenturyOrganization 21stCenturyOrganization •4 only- on- Facebook ventures Conveners Patti Anklam Jill Howell Josh Katinger Jeffrey Keefer Danielle Ravich Advisors and Analysts Projects Run on NJ Symposium Presentation PMI Relationships 11 © SageNet LLC & Axelrod Becker Consulting 2010 May 3, 2010

Stakeholder Engagement & Co-Creation Co- Wikisourcing Sustainable Enterprises 2009 “Building a virtual Sustainable Enterprise Network library of business Connecting practitioners and thought leaders via Ning cases for sustainable practices” PMI NJ Symposium Presentation ~ SEN Member 12 2008 © SageNet LLC & Axelrod Becker Consulting 2010 May 3, 2010

Stakeholder Engagement & Co-Creation Co- Diverse Talent PMI NJ Symposium Presentation 13 © SageNet LLC & Axelrod Becker Consulting 2010 May 3, 2010

Stakeholder Engagement & Co-Creation Co- Project Network Drawing Exercise Network Identification & Analysis © SageNet LLC & Axelrod Becker Consulting 2010

Stakeholder Engagement & Co-Creation Co- Networks Understanding Grows © SageNet LLC & Axelrod Becker Consulting 2010

Stakeholder Engagement & Co-Creation Co- Thought Leaders Marc Smith Wayne Baker Wayne Baker Barry Wellman Barry Wellman Steve Borgatti Steve Borgatti Microsoft Research Social Capital Social Capital University of Toronto University of Toronto University o Maryland University o Maryland NodeXL Uni Michigan Uni Michigan Networked individualism Networked individualism UCINet 1988 UCINet 1988 Mark Newman Mark Newman Ronald Burt Ronald Burt David Easley & David Easley & Duncan Watts Uni, of Michigan Uni. of Chicago Uni, of Michigan Uni. of Chicago Jon Kleinberg Jon Kleinberg Duncan Watts Verna Allee Verna Allee Networks 2010 Structural Holes 1992 Cornell Uni. Six Degrees 2003 Six Degrees 2003 Networks 2010 Structural Holes 1992 Cornell Uni. Value Networks Yahoo Research Value Networks Networks 2010 Networks 2010 Yahoo Research Ranjay Gulati Ranjay Gulati Northwestern Northwestern Valdis Krebs Valdis Krebs David Krackhardt Relationship assets Inflow 1990 David Krackhardt Relationship assets Inflow 1990 Carnegie Mellon Carnegie Mellon Mark Granovetter Stanford “The Company Behind “The Company Behind Mark Granovetter Stanford University University Rob Cross Rob Cross the Chart” HBR 1993- the Chart” HBR 1993- Silicon Valley Networks 2000 Silicon Valley Networks 2000 UVA Network Roundtable UVA Network Roundtable Strength of Weak Ties 1974 Strength of Weak Ties 1974 Survey software Survey software “The Hidden Power of Social “The Hidden Power of Social John Seely Brown John Seely Brown Networks” 2003 XEROX PARC Networks” 2003 XEROX PARC IKO 2000 IKO 2000 1995 “People are the 1995 “People are the Company: Fast Company: Fast Company” Company” Moreno- 1931- Sociogram PMI NJ Symposium Presentation 16 © SageNet LLC & Axelrod Becker Consulting 2010 May 3, 2010

Stakeholder Engagement & Co-Creation Co- Network Analysis Reduces Project Risks •Visualizes communication flows Structural Holes Weak Ties • Maps shared Strong Ties understanding Hub Connector • Pinpoints strong & Core weak centers of Broker knowledge PMI NJ Symposium Presentation 17 © SageNet LLC & Axelrod Becker Consulting 2010 May 3, 2010

Stakeholder Engagement & Co-Creation Co- Networks in Your Work Exercises Project Network Drawing & Examination © SageNet LLC & Axelrod Becker Consulting 2010

Stakeholder Engagement & Co-Creation Co- Social Capital The sum of all of an organization's relationships through individual networks. Project managing with a network mindset builds social capital and reduces project risk. © SageNet LLC & Axelrod Becker Consulting 2010

Stakeholder Engagement & Co-Creation Co- A Network Mindset & Co-Creation Increase Project Success © SageNet LLC & Axelrod Becker Consulting 2010 .V. G. Axelrod 2010 Visit the 21st Century Organization blog to learn more

Stakeholder Engagement & Co-Creation Co- = Proprietary Focus Group Collected Intelligence Crowdsourcing Open Source Evolving Intelligence © SageNet LLC & Axelrod Becker Consulting 2010

Stakeholder Engagement & Co-Creation Co- Architecting Participation is a Skill Adapted from Ross Mayfield April 2006 Attention Connection Participation Contribution Value © SageNet LLC & Axelrod Becker Consulting 2010

Stakeholder Engagement & Co-Creation Co- A Leadership Challenge Control Direct control decreases Influence Enterprise systems Social Technology Ethernet Web 1.0 Web 2.0 Semantic Web , 1973 1991 Time as social network technology INCREASES © SageNet LLC & Axelrod Becker Consulting 2010

Stakeholder Engagement & Co-Creation Co- Co-creating Projects to Reduce Risk 1. Network minds for project leaders and participants 2. Leadership through engagement and respectful influence over command and control 3. Network language & knowledge shifts thinking & acting 4. Architecting participation builds stakeholder networks 5. Collaboration and co-creation are incented 6. Network analysis as a measurement tool 7. Strategy drives all initiatives. © SageNet LLC & Axelrod Becker Consulting 2010

Stakeholder Engagement & Co-Creation Co- Continuing the Conversation Jenny Ambrozek, SageNet LLC jenny@sageway.com @sagenet Victoria Axelrod, Axelrod Becker Consulting Vaxelrod@axelrodbecker.com @vaxelrod 21st Century Organization Blog http://c21org.typepad.com © SageNet LLC & Axelrod Becker Consulting 2010

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Stakeholder Engagement & Co-Creation: Reducing Project Risk

by Jenny Ambrozek on May 07, 2010

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Stakeholder Engagement & Co-Creation: Reducing Project Risk — Presentation Transcript