The key to successful stakeholder management is planning an effective strategy. This guide looks at identifying win win strategies and developing a actionable stakeholder management plan. stakeholdermap.comThis is step 3 of a 4 step guide to Stakeholder Management. If you haven't read steps 1, 2 and 4 you can access them here. Step 1 Stakeholder Definition, Step 2 Stakeholder Analysis, and Step 4 Stakeholder Engagement
Now that you have completed the identification and analysis stages it is time to develop your Stakeholder Engagement Strategy.
How to identify WIN WIN strategies for managing your stakeholders
Add two columns and use one to describe their goals and the other to identify win/win strategies for engaging with them.
The last two areas will require some effort, but it is well worth the time as it will help to ensure that your stakeholder engagement strategy is focused and effective. The concept of 'win/win' deserves some more discussion.
Simply put, a win-win negotiation is a negotiated outcome in which parties have reached an agreement that cannot be mutually improved upon. (Thompson 2007).
In stakeholder management achieving a Win / Win means creating a strategy that effectively manages the stakeholder, without negatively impacting the project or organization.stakeholdermap.com
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Stakeholder Communication: Develop the communication and reporting planUsing the information you have gathered in the previous steps write a communication and reporting plan that documents:
- the information requirements;
- frequency of communication;
- communication provider;
- and channel of communication for each stakeholder.
Make use of your existing reporting structure to manage and communicate with your key stakeholders and don't forget to make use of technology e.g. webinars, video conferencing, internet, intranet.
To get your message across you may need to use more than one channel. Some people won't read emails that are longer than two paragraphs, but they might listen to a podcast or login to a webinar.
Stakeholder Communication ChannelsHere are some stakeholder engagement channels that you could consider using:
- pod casts
- video conferencing
Face to face
- project meetings/briefings
- surgeries for individuals with specific questions
- presentations to wide audience
- targeted presentations to particular groups
- blogs e.g. Blogger, Wordpress
- forums, communities and online groups e.g. Google groups or LinkedIn groups
- social media e.g. Facebook, Twitter, Google +
- memos, letters
- display boards
Stakeholder Management resources
- Example stakeholder analysis
- Stakeholder analysis template
- Communication and reporting plan template
References and further reading on Stakeholder Management
Thompson, L. (2007) The Truth About Negotiations. Financial Times/ Prentice Hall.