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5 aces stakeholder management presentation v6
1. Stakeholder Management
5 Aces Consulting
Stakeholder Management Research and Insight Project:
AnAnalysis of Current and Best Practices
April 1, 2014
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2. Presentation Agenda
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• Welcome
• Team Introduction
• Research Process
• Demographics
• Topic Analysis
• Conclusion, Lessons Learned
• Q & A
4. ProjectTeam
• James Medeiros - Health Quality Ontario. Likes making beer, theatre, pc building and vintage
video games. Fun Fact; He once sang at the Pepsi Centre (Denver, CO). Congratulations! James is
getting married in Cuba, April 7th….
• Kunal Shah - Rogers Communications, Customer Care Rep. Life goal is to be an Entrepreneur,
start his own pre-school and a Restaurant. He LOVES to cook and drink...avoids the other way!
Huge soccer and basketball fan. Favourite club - Barcelona. Played state level basketball.
• Miguel Garcia – Extrudex Aluminum, IT Manager. Loves technology and is crazy about football
(or soccer as they call it in North America) and you cannot separate football and beer!
Congratulations, Miguel’s project to virtualize the server infrastructure at Extrudex has just been
set in motion.
• Nigel Perreira – Cassels Brock & Blackwell and he has 200 bosses (lawyers)! Enjoys drinking beer.
Huge basketball fan, Lakers and Raptors. Congratulations, Nigel’s Son just turned 20 years old.
Move out date in sight….
• Teresa Shih – Freelance Programmer Extraordinaire. Planning on taking GMAT soon for future
MBA goal. Avid, Semi-Professional Gamer and blogger. Likes trying new craft beers and local
wines. Congratulations,Teresa recently engaged to be married to her internet love! 4
5. Background and Topic Information
• 5 Aces Consulting is intrigued by the PMI’s move to make Stakeholder
Management a separate knowledge area.
• Collectively the 5Aces team feel that this is one of the most important areas
of Project Management as the focus is on the people that are part of any
project and its’ success.
• 5 Aces Consulting feel highly motivated to further understanding of this
topic by soliciting valuable feedback and real world examples from our
colleagues and friends.
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6. Formative Research
• Narrow and describe the target interviewees.
• Make decisions with an audience-focused mindset.
• Get useful information from the right people - Focus on the interviewee
pool.
• To determine if we focus on in-depth interviews/intercept interviews.
• Identify the factors which influence the interviewee’s take on Stakeholder
management.
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7. Research Methodology and Process
• Identify the area of research/ Purpose of Research/Select the topic of
Research - Stakeholder management Analysis.
• Formulate research objectives/Background and Review of Existing
Literature.
• Research Methodology: What is Being Studied, and How (Define the
population)?
• Data Collection
• Findings (Results and Analysis of Data)
• Present Findings/Conclusions
• Appendices
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8. 5 Aces Tools and Techniques
• ProjectCharter –Well defined purpose, goals and deliverables
• Plan the Project – brainstorming, schedules, PM rotation, set deadlines,
delegate project tasks
• Communicate & Collaborate – Regular progress updates via face to face
meetings, email, use of Google Drive to share information
• Manage, motivate, inform, encourage and enable the team
• Check, measure and review project performance; adjust project plans;
inform project team
• Complete project; review and report on project; give praise and thanks to
the project team
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9. Goals & Objectives
• This presentation will elucidate the universal importance of stakeholder
management across all sectors, roles and projects.
• It will also show that project management tools (including stakeholder
registers) and teamwork/collaboration improves stakeholder orientations
and outcomes.
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10. Respondent Demographics
• Number of Respondents - 25
• Age – Representative range across age groups
• Gender – 9 Female, 16 Male
• Education – 80% University educated
• PMI Credentials - 3 CAPM, 4 PMP
• Organization size – 80% Less than 1000 employees
• Organization structure – 50% Functional
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14. Data Analysis Themes
1. Importance of Stakeholder Management
2. Stakeholder Management Tools and Best Practices
3. Teamwork, Collaboration and Relationship Building
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17. Interpretation and Anecdotes
• The research data shows overwhelmingly that respondents understand the
importance of stakeholder management throughout the life of projects.
• “Stakeholder management is key to project success and requires constant
attention during the course of the project.” - Boro Lukajic, Consultant
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19. Interpretation and Anecdotes
• The survey respondents identified the following tools and techniques to
influence stakeholders:
• Offering support
• Communication, including updates and status reports
• Sharing compelling evidence
• Identifying common interests
• Explain benefits
• Active involvement of stakeholders
• Appeal to stakeholder emotions
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20. Interpretation and Anecdotes
Appeal to Stakeholder Emotions
"I was involved in leading a group of stakeholders from various sectors in Long-Term
Care to create a reporting system/database for 'catastrophic events.' Many meetings
were wasted bickering and even name-calling between participants until I decided to
take a different approach: I dumped a stack of sheets on the table and read aloud the
worst of the worst preventable catastrophes that resulted in death. After some
attendees were moved to tears, or had to leave, I asked "have I shared enough?This is
what we're here to improve. Let's set aside our partisan differences and see to the
task at hand." From then on, everyone was much more collaborative - the difference
was like night and day." - Chris Currie, Project Manager
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22. Interpretation and Anecdotes
• Leadership, teamwork and collaboration improves orientations and
outcomes. This applies to external and internal stakeholders, including
project sponsors.
• “Social interactions outside of the office are important, including lunch
meetings.”
• “Conduct brainstorming sessions, ask for feedback and opinions to provide
a sense of inclusion.”
• “Frequent, open and honest communication is critical to ensuring project
transparency.”
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23. Interpretation and Anecdotes
“I was called to consult on a project to build a tunnel for a 1 billion dollar hydro
project. A contractor was selected to provide a proposal and I was asked to
validate their design. Using a technique we refer to as "value engineering" I
made a recommendation based on the properties of the soil to change the
grading and therefore the length of the tunnel. I was able to influence the
orientation of some stakeholders from negative to positive by making
recommendations to the design that represented cost savings of 140 million
dollars.” – Boro Lukajic
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24. Conclusion
• Regardless of industry, experience and project manager credentials,
stakeholder management is considered a very important and continuous
process throughout the project life cycle.
• Stakeholder management tools in conjunction with strong leadership and
collaboration improves stakeholder orientations and outcomes.
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25. Project Team - Lessons Learned
• Each interviewee was a stakeholder in the project. They were all highly influential
to the success of the project and we saw the importance of being mindful and
respectful of their time and their input.
• An important factor to the success of the project was the use of available
technologies such as Skype which allowed us to conduct interviews with individuals
who were not able to meet in person. Also, an online survey tool was used to
collect the data and was further utilized to analyze the data and prepare the graphs
for this presentation.
• Working in a team with rotating responsibilities gave us the opportunity to
experience a collaborative approach to project management. We gave each team
member the opportunity to wear the Project Manager hat and we saw the
advantages and disadvantages of different leadership styles.
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26. Project Team - Lessons Learned
• Working on this project as a team gave us an opportunity to know each
other a little better. We engaged in a team building exercise and we were
able to find some common interests. We are considering starting a beer
club at the end of this course.
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28. Closing Remarks
• Thanks to the class for their attention.
• Very special thanks to Professor Haig for his support and guidance.
• Good luck on the final exam and your careers as future Project Managers.
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