Analyzing The Stakeholder Expectations Matrix For Projects
A Stakeholder Expectations Matrix for Projects is a document that contains the name of project stakeholders, their expectations from the project, and their influence on the project.
Having the expectation matrix will help the project team to understand the commitment levels needed to provide accurate on key milestones in the project. The document may be created through the stakeholder analysis process for the project.
Stakeholder expectations matrix mapping is the process of mapping the goals and expectations of senior managers and sponsors within an organization. Goals and expectations are derived or identified by conducting interviews with key stakeholders along with the business case, project road map, sponsors and contracts. The matrix updated continuously with the goals and expectations of new stakeholders as the project planning phase progresses.
The stakeholder expectations may change during the planning and mobilizing stage of a project. It is, therefore, necessary that the matrix is updated regularly and reviewed by everyone related to the project.
Objectives of expectation mapping as part of Stakeholder Expectations Matrix For Projects
Some of the objectives of expectation mapping for projects include:
#1 Understanding stakeholders as part of Stakeholder Expectations Matrix For Projects
When you map your stakeholders, you will be able to understand the different groups that your stakeholders belong to. This will enable the project manager to know the need to communicate with a different group of stakeholders. This will also reduce the time that the project manager is using in communicating with stakeholders.
#2 Updating stakeholder values
Also, when you perform stakeholder expectation mapping for your project, you will be able to update the stakeholder values and expectations for your project. There may be a time when the expectation of stakeholders changes as the project progresses. If you have a good mapping in place, you will understand what needs to change when the expectations of some group of stakeholder changes.
#3 Monitoring and controlling
Have a good stakeholder expectation mapping for you will also assist you in monitoring and controlling the project as the project progresses towards completion. This will allow you to balance your project deliverables so that it meets up with stakeholders’ satisfaction at the end of the project.
#4 Defining strategies
The process also allows the project manager to define strategies for resolving conflicts among stakeholders’ expectations and obtaining consensus. Most at times, there may be a conflict of interest and ideas among stakeholders which might be the project to a standstill. The mapping might be needed to analyze stakeholders and know who to talk to in order to resolve stakeholders’ differences.
#5 Communicating benefits
Having the mapping in place will also allow the project manager to communicate some of the benefits that the project will deliver to the stakeholders. It will also discuss the estimated values and expectations. This will allow the stakeholders to know what they should expect at the end of the project.
#6 Recommending adjustments
It will also assist in identifying and recommending adjustments in the project if value estimates and expectations are not met. There are times that some expectations are above what the project will be able to deliver. The stakeholder expectation mapping will allow the project manager and stakeholders to face reality and make necessary adjustments.
#7 Updating deliverables
This document also allows the project manager to update deliverables, current information, and results.
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