Different stakeholders have different interests and expectations

Why Stakeholders Matter: Understanding the Diversity of Expectations

As a project manager, you may find yourself juggling the needs and wants of various stakeholders, each with their own interests, priorities, and expectations. But what exactly does that mean for the success of your project? Understanding the diversity of expectations among stakeholders is crucial to delivering a project that satisfies everyone’s needs.

Different Interests and Expectations

Every stakeholder involved in your project brings something unique to the table. They each have different interests and reasons for participating, and they may even define success differently. As a result, it’s essential to consider each stakeholder’s expectations when planning and executing your project.

For instance, central and local governments may have different priorities when it comes to a project aimed at improving energy efficiency in homes. While central government might focus on reducing energy demand and CO2 emissions, local government might be more interested in creating job opportunities and keeping the building stock in good condition. Companies, on the other hand, may expect increased revenue from new markets, while residents may value better living conditions and lower energy bills.

Multiple Success Criteria

To meet the diverse expectations of various stakeholders, you may need multiple success criteria, indicators, and baselines. It’s crucial to collect the appropriate evidence to demonstrate that the project has fulfilled each stakeholder’s expectations successfully.

It’s also essential to agree on success criteria early in the project. By discussing and agreeing on success criteria with several stakeholders, you can ensure that everyone is on the same page and that the project meets the expectations of all stakeholders, not just your own.

Balancing Priorities

In some cases, it may be necessary to balance different priorities between external demands and your own expectations towards the project. This is where having a clear understanding of each stakeholder’s expectations comes in handy. By finding mutually compatible expectations, you can avoid any conflicts and ensure a smoother project execution.

Real-World Examples

Let’s take a look at some practical examples. The Building Energy Audits project in Latvia and Kirklees Warm Zone in the UK aimed to improve energy efficiency in homes. While the central government prioritized reduced energy demand and CO2 emissions, local government focused on job creation and building maintenance. Participating companies expected new markets and increased revenue, while residents valued better living conditions and lower energy bills.

Similarly, the Green Office project in Finland and Energy Trophy in the EU aimed to improve energy management in offices. Central and local governments prioritized reduced energy demand and CO2 emissions, while participating organizations expected reduced costs and improved employee commitment. Equipment suppliers were interested in testing and promoting new energy-saving products.

By understanding the diverse interests and expectations of different stakeholders, you can create a successful project that meets everyone’s needs. It’s crucial to have clear success criteria, discuss and agree on them early, and balance priorities where necessary. By doing so, you can ensure the longevity and success of your project.