Tag Archive: management

Effective Stakeholder Management

Whether you know it or not, we are all in the business of stakeholder management. Ideally it’s a conscious, planned and focused activity associated with clear actions and outcomes but more often than not it is an unconscious and unplanned aspect of managing projects day-to-day. Developing a formalised, documented, repeatable process for mapping stakeholders and embedding a clear methodology for stakeholder management can yield enormous benefit.

What? When? Why? Who? How?

So, what is stakeholder management? Formal stakeholder analysis is used by business leaders and project managers to identify the key influencers associated with a particular project or programme then assess their attitude, level of interest and the importance they attach to it. Such knowledge helps change programmes to interact in the most effective way with stakeholders, particularly in planning optimal pro-active communication.

When is the right time for stakeholder management? It is essential to conduct the initial stakeholder analysis before the change or transformation programme begins so that the business leader or project manager can drive positive outcomes by detecting negativity, resistance or misunderstandings early on and take appropriate action. Stakeholder analysis can also be helpful when a programme changes direction.

Why is it important? Stakeholder management is a key leadership tool. Done consciously and effectively it secures the ownership and accountability necessary for delivering change. It’s a way of aligning multiple teams with a single goal and providing that all-important ‘golden thread’ of relevance to the strategic aims of the organisation.

Who are your stakeholders? You can identify your stakeholders by following the ‘threads’ of the programme i.e. who is paying the bill, who has sign off, who is contributing resources. Distinguish between a sponsor and a stakeholder as their roles are quite different: the sponsor is the single owner of the programme, whereas the stakeholders are all those who stand to gain from it. Note that your sponsor may also have a sponsor’s agent in order to expedite action.

How does it work? The golden rule of stakeholder management is to clearly identify roles and responsibilities up front as well as analysing the stakeholders themselves. Set expectations for your sponsor and stakeholders with regards to performance indicators and measurement and build a tailored communications strategy around what you have learned from your analysis.

Stakeholder mapping vs stakeholder management

Notwithstanding the potential benefits of effective stakeholder management, 80% of the time it is a waste of time. In fact, poor stakeholder management and ineffectual communication are two of the key reasons why change often fails.

The first pitfall is the stakeholders themselves. Some are good, some are not. The issues arise when they don’t understand their role; what is expected of them, what questions to ask or what information they should be receiving. The answer is to communicate responsibilities and ensure a common appreciation of the value and potential impact of the role.

The second tripwire is the process. Whilst it’s easy enough to create a stakeholder map, you have to remember that the map is not the end goal. We’ve seen countless examples of project managers simply not knowing what to do with their analysis (inertia), not knowing what they want/need to get from it (lack of connection) or just not taking (or making) the time to act on it (roadblocks).

The simple difference between the limited value of stakeholder mapping and the wide-ranging benefits of stakeholder management is action. Avoid the ‘tick in a box’ approach by visualising, targeting and time-boxing specific outcomes. Focus on benefit-driven activities that maintain that essential thread of relevance through to one unifying goal. At Afiniti we call this ‘doing the right things right’.

Return on investment

Stakeholder management brings classic returns in terms of time, money and motivation. The bottom line is that every minute you invest in driving effective stakeholder management will bring a significant business benefit in terms of:

l Accountability

The RACI model for identifying roles and responsibilities including who is ‘responsible’, ‘accountable’, ‘consulted’ and ‘informed’ will help initiate and maintain accountability.

l Progress

In practical terms stakeholder management keeps your decision-makers and influencers engaged and on track and thereby oils the wheels of progress.

l Change penetration

Managing stakeholders effectively is not just about forward momentum, it is also about scale; helping to push and promote change in every corner of the organisation.

l Overcoming barriers

Forewarned is forearmed: your stakeholder grid will identify where you are most likely to encounter resistance so you can ensure you are ready to counter it.

l Leveraging influence

Decision-making takes place and takes place on time when you have worked out whose opinions to weigh heaviest and who to consult first in making major decisions.

l Risk management

Stakeholder management is as much about managing risk as it is about managing people in the sense that it reveals potential pitfalls and provokes proactive mitigation.

l Personal influence & career progression

Learning to leverage relationships in order to reach positive outcomes is an important career skill and one that will contribute gravitas to an individual’s personal style.

The takeaway

Stakeholder management is not rocket science but you do need to follow a clear process to return the greatest benefit. This is our simple step-by-step approach:

The people aspects of Change Management Programmes are what Afiniti does best; driving transformation and delivering results through our proven methods and approach. Our combination of effective stakeholder management, communications strategy, creative employee engagement and best practice project management delivery we can guarantee success.

Strata Management Service a Comprehensive Package

Strata management, an innovative concept which took its roots in the state of NSW in Australia has evolved into a house owner friendly initiative by having gone through a lot of amendments. Further, new rules keep coming up to safe guard the interest of the lot owners by facilitating fast resolution of disputes which thus helps in building an environment that is conducive to peaceful co-existence.

Apart from the Conveyancing Act of 1961, the other relevant legislations which help in strata management are as follows:

These are few of the latest rules implemented by the Government for the successful running of the scheme.

Strata management which entails the day to day running of a scheme which in turn refers to the legal ownership of a part of a building more commonly known as a lots. The individual lot owners have their ownership or property certificates for their lot and at the same time to share the joint ownership over the common property and common facilities.

Managing a strata schemes, especially for the medium and large ones is not an easy task. Though some people are not in agreement with the hiring of a professional management company, they should understand that there are a lot of intricacies involved in the running of a property. It involves great responsibility, requires detailed attention and time.

Strata management companies are capable of handling the running of different strata schemes- residential, commercial and neighborhood schemes. So with their diversified knowledge the strata managers are able to handle any kind of work related to strata schemes.

While staying in a strata scheme one might understand its intricacies to some extent but to deal with every day work, rules and regulations require knowledge professionalism and unique qualities of each scheme.

Once you have struck up a deal with a reputed management company you will have a deeper understanding of the works performed by them. So any doubts that arises about cost cutting should be put to rest and you can go about with your daily business with a clear mind; being assured that you can go back home and relax in a problem free environment.

Now let’s analyse what strata management encompasses:

So, you will be doing yourself a favour by hiring the best possible strata management agency, which apart from giving you a peaceful and problem free environment will also help in enhancing the value of your property.

What Represents Management Consulting?

With extremely educated groups of experts, management consulting companies supply top quality strategic advice to various firms, in the most crucial scenarios. Essentially, management consultants are committed to locating the finest methods for a specific business, in the context of the contemporary economy, as well as the present industry criteria and also demands. Due to the excellent outcomes accomplished in several areas, organisations and also markets, management consulting is not simply a pattern any longer, yet it has actually expanded to be virtually essential.

With very educated groups of experts, management consulting companies use top quality strategic advice to many business, in the most essential circumstances. Primarily, management consultants are committed to locating the ideal methods for a certain business, in the context of the contemporary economy, as well as the existing industry requirements and also demands. Due to the excellent outcomes attained in lots of areas, organisations as well as markets, management consulting is not simply a pattern any longer, yet it has actually expanded to be nearly vital.

Don’t Waste Time With Time Management

The concept is an easy one, which entails you believing regarding your time and also your jobs in advancement, being straightforward with on your own as well as callous with your to-do checklist. Also in your downtime, you could be able to assume via a job, permitting you to finish it rapidly when the time comes to tackle it. By recognizing a means to intend your time as well as your jobs which functions for you as well as assists you to straight attain just what it is you desire (both in your business and also your personal life), you will certainly discover that much of the anxiety vanishes out of attempting to handle your time.

Attempting to arrange just what you currently do in a day to fit right into a smaller sized room of time will certainly not be feasible merely since you kind it up as well as publish it out as a schedule or write it down in an organizer. The concept is a basic one, which includes you believing regarding your time as well as your jobs in breakthrough, being truthful with on your own as well as callous with your to-do checklist. Also in your downtime, you might be able to believe with a job, enabling you to finish it rapidly when the time comes to tackle it. You could attempt to fit much more in by functioning overtime, however this is not a genuine solution to the trouble and also encroaches after the time you need for your various other dedications, as reviewed previously. By recognizing a method to prepare your time and also your jobs which functions for you as well as assists you to straight attain exactly what it is you desire (both in your business as well as your personal life), you will certainly locate that much of the stress and anxiety vanishes out of attempting to handle your time.

Why Is Management Consulting Important?

Why are business so clingy of management consultants and also why do so MBA finishes each year crave for a chance at leading rate consulting companies like McKinsey, Booz, BCG and also Bain? Career perspectiveNow, allowed’s review the placement of management consultants from a career point of view. Management consultants take pleasure in high career online reputations in business sectors.

Why are business so clingy of management consultants and also why do so MBA finishes each year crave for a possibility at leading rate consulting companies like McKinsey, Booz, BCG as well as Bain? Career perspectiveNow, allowed’s review the placement of management consultants from a career point of view. The income for management consultants is not as high as for financial investment lenders, it comes close. Possibly the ideal component of being a management consultant is that you will certainly maintain taking as well as discovering in new viewpoints paid by companies. Management consultants take pleasure in high career track records in business sectors.