Rakesh Hans’ Post

VALUE OF STAKEHOLDERS Why work with Stakeholders? Having all these stakeholders involved may seem like more work because there are more schedules to track and more people to contact for meetings and follow-up, but there is much value in including them. Stakeholders can add value in three ways: Providing knowledge, assessing risk, and engaging people. Let's discuss the values they bring to your project Knowledge Sharing: Stakeholders bring diverse perspectives, industry insights, and expertise, enhancing project depth and quality. Risk Assessment: They help identify and mitigate potential risks, allowing for proactive solutions and informed decision-making. Engagement and Buy-In: Involving stakeholders fosters a sense of ownership and commitment, leading to greater support and smoother implementation. Engaging stakeholders early and effectively is essential for project success, as their insights and support can be pivotal in achieving long-term goals.

Objectives of Earned Value Management: 1. Measure project progress and performance. 2. Identify variances from planned schedule and budget. 4. Improve project decision-making. 5. Enhance team collaboration and communication. 6. Ensure successful project delivery.

Today is International Project Manager Day, and I would like to congratulate all the amazing professionals who dedicate themselves to this job. Being a project manager is more than being in charge of leading and coordinating projects from conception to completion, working within constraints such as budgets and deadlines. We carry on our shoulders the success or failure of the project, what a huge responsibility! You are an expert with stakeholder meetings, your executive management skills, communication techniques, information management systems, and interpersonal skills, make the meeting always a success. You never lose your temper when things don't go as expected, even though the procurement department informs you that the equipment purchase will be significantly delayed. You always stay composed since you have backup plans. If one of the tasks that needed to be completed was not yet done, You two try to figure out a solution after he discusses the problem. Be proud. You are just more than a manager; you are a leader and a person that inspires. #ProjectManagerDay #ProjectManagement #ProjectManager #PMDay #ProjectManagers #ProjectManagementCommunity #CelebratingProjectManagers #TeamLeadership #AgileProjectManagement #ProjectManagementSkills

What is the best answer? A. Manage stakeholder expectations through negotiation and communication B. Develop approaches to involve stakeholders based on their needs, expectations, interests, and potential impact on the project C. Address any risks or potential concerns related to stakeholder management and anticipate future issues that may be raised by stakeholders D. Engage stakeholders at appropriate project stages to obtain, confirm, or maintain their continued commitment to the success of the project HINT: Which activity would be performed as part of project planning rather than execution?

𝐎𝐧𝐞 𝐜𝐫𝐢𝐭𝐢𝐜𝐚𝐥 𝐭𝐡𝐢𝐧𝐠 𝐭𝐡𝐚𝐭 𝐜𝐚𝐧 𝐥𝐞𝐚𝐝 𝐭𝐨 𝐅𝐀𝐈𝐋𝐔𝐑𝐄⚠️ Before planning, there is one thing you must not forget—it’s “𝐕𝐄𝐓𝐓𝐈𝐍𝐆.” Sounds unfamiliar?🤔 Vetting is the first phase of management, involving the evaluation of a project's feasibility. 𝐕𝐄𝐓𝐓𝐈𝐍𝐆 𝐏𝐇𝐀𝐒𝐄 𝐈𝐍𝐂𝐋𝐔𝐃𝐄𝐒 📈 Ensuring alignment with organizational strategy. 🎯 Defining clear and achievable outcomes. 💰 Assessing financial feasibility. 📊 Conducting market and demand analysis. 🛠️ Evaluating technical feasibility. ⚠️ Identifying potential risks and uncertainties. 🛡️ Developing mitigation strategies. 🔍 Checking availability of necessary resources. 👥 Evaluating the capability and capacity of the team. Make vetting a priority to ensure your project’s success! It’s the key to turning your project vision into reality. #projectmanagement #management #success #business

𝗠𝗮𝗻𝗮𝗴𝗶𝗻𝗴 𝗦𝘁𝗮𝗸𝗲𝗵𝗼𝗹𝗱𝗲𝗿 𝗘𝘅𝗽𝗲𝗰𝘁𝗮𝘁𝗶𝗼𝗻𝘀 𝗶𝗻 𝗣𝗿𝗼𝗷𝗲𝗰𝘁 𝗣𝗹𝗮𝗻𝗻𝗶𝗻𝗴 One of the most critical aspects of project success is the management of stakeholder expectations. Whether it’s a client, internal team members, or investors, aligning all parties on timelines, deliverables, and potential risks is essential for smooth execution. Key strategies for managing stakeholder expectations include: • 𝗖𝗹𝗲𝗮𝗿 𝗰𝗼𝗺𝗺𝘂𝗻𝗶𝗰𝗮𝘁𝗶𝗼𝗻: Establish a consistent communication plan early on, ensuring that stakeholders receive regular updates and understand the progress and challenges of the project. This can include weekly reports, status meetings, and updated timelines. • 𝗦𝗲𝘁𝘁𝗶𝗻𝗴 𝗿𝗲𝗮𝗹𝗶𝘀𝘁𝗶𝗰 𝗲𝘅𝗽𝗲𝗰𝘁𝗮𝘁𝗶𝗼𝗻𝘀: Ensure that stakeholders are aware of potential risks and limitations from the outset. Avoid over-promising and instead, be transparent about the project’s constraints, timelines, and potential challenges. • 𝗥𝗶𝘀𝗸 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝘁𝗿𝗮𝗻𝘀𝗽𝗮𝗿𝗲𝗻𝗰𝘆: Involving stakeholders in risk assessment and mitigation plans can help them understand the complexities of the project. This not only builds trust but also ensures that there are no surprises if things don’t go as planned. By managing expectations well, planning engineers can avoid miscommunication and potential conflicts later in the project lifecycle. When stakeholders are informed, they are more likely to remain supportive, even if the project faces challenges. #StakeholderManagement #ProjectPlanning #CommunicationStrategy #ExpectationManagement

⏳ Managing Tight Deadlines in Project and Contract Management ⏳ One of the toughest challenges in project and contract management is balancing quality while working against tight deadlines. We've all been there: stakeholders want delivery yesterday, resources are stretched thin, and expectations are sky-high. In my experience, the key to overcoming this challenge lies in: 1️⃣ Prioritization: Break down the project into critical tasks and prioritize what delivers the most value. Tools like the MoSCoW method (Must-have, Should-have, Could-have, Won’t-have) work wonders. 2️⃣ Clear Communication: Align all stakeholders on what’s achievable within the timeline. Managing expectations early prevents last-minute surprises. 3️⃣ Resource Optimization: Leverage your team's strengths—assign tasks based on expertise to improve efficiency and output quality. 4️⃣ Risk Mitigation: Identify risks early that could cause delays, and create contingency plans. For a recent project, implementing these strategies allowed us to deliver a critical contract 2 weeks ahead of schedule while maintaining quality standards. #ProjectManagement #ContractManagement #Leadership #TimeManagement #Efficiency

Project Deliverables & Scope of Work Understanding Project Deliverables & Scope of Work is very essential for successful project execution. Here are the critical elements 1. Ensure the deliverables align with agreed scope 2. Accountability for each deliverables 3. Identify Potential risk that may affect the deliverable completion 5. Alternate plan to address these risks 6. Dependencies and Sequences of task 7. Ensure all the stakeholders are aligned and aware of any change with respect to SOW. 8. Weekly status report to maintain transparency with all stakeholders. 9. Communication and Collaboration are the most crucial element to avoid bottlenecks

Time Management in Delayed Projects: Challenges and Solutions Project delays are more than just an administrative hurdle; they are a real test of a team’s ability to adapt, reprioritize, and achieve goals under pressure. In such situations, effective time management becomes crucial to ensure success and minimize losses. Here are some strategies that can make a difference when dealing with delayed projects: 1. Analyze the Current Situation: Start with a thorough analysis of the root causes of the delay and identify critical activities that need immediate attention. 2. Reschedule Priorities: Leverage the Critical Path Method (CPM) to pinpoint tasks that require acceleration and allocate resources accordingly. 3. Enhance Communication: Clear communication among team members and stakeholders ensures alignment on the updated plan. 4. Manage Resources Wisely: Consider reallocating resources or seeking additional support to fast-track critical tasks. 5. Implement Risk Management: Identify potential risks in the revised plan and proactively prepare to address them. 6. Monitor Progress Closely: Regularly tracking progress helps detect deviations early and take corrective actions promptly. Remember, the challenges of managing delayed projects are an opportunity to sharpen leadership and planning skills while building a stronger and more resilient team. What are your go-to strategies for handling delayed projects? Share your thoughts! #ProjectManagement #TimeManagement #Leadership #SkillDevelopment

Identifying stakeholders is vital for driving project success as it ensures alignment of goals, effective resource management, risk mitigation, enhanced communication, and support. By understanding stakeholders' needs and expectations, projects can meet these requirements, leading to better implementation, conflict resolution, and greater acceptance of the final outcomes. #stakeholdermanagement.