England – 15/03/2012 – Given the challenging economic environment, efficient stakeholder management has become even more critical
Stakeholder management is an important process for any project. Without good stakeholder management, it is impossible to monitor what each person (stakeholder) should be contributing to a project. Knowing who should be doing what or who should be contributing what and at what stage of the project is vital. If you keep tabs on this, you can quickly spot when a project is going off of the tracks and falling behind schedule.
In the current economic climate stakeholder, management has taken on an even more important role. Money is tight, so projects have to come in on time and on budget or not at all.
Of course, businesses need good stakeholder management, but the public sector probably needs it more. In a business, much of the deliverables will be provided from within the company in the public sector virtually everything that is needed to make the project work will come from outside providers. This fact means that daily or even hourly monitoring is essential.
Effective communication is critical to stakeholder management
Once problems are identified, it is vital that traceable communication begins quickly with the stakeholder to identify the cause of the problem, solve it and get that element of the project back on track. At the same time, all stakeholders need to be kept up to date on the progress of the project as a whole. This allows them to plan to deliver their part of the project early when that is possible, or to foresee delays that could affect how they deliver their part of the project.
As you can imagine there is growing demand for software to help organizations with their stakeholder management. Q Base has been providing these kinds of software systems to industry and the public sector for many years now. Demand for their SMART (Stakeholder Management And Relationship Tool) has grown, especially since they updated it to make it easier to use. Their tool includes a great communication system allowing businesses and organistions to quickly communicate with all stakeholders and track that communication.
Qbase Data Services
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Tel: (+44) 1925 644 800