ADVANCED not essential that one step which is

ADVANCED PROJECT
MANAGEMENT AND STRATEGIC LEADERSHIP

 

TERM
3

EPM
4133

 

REFLECTIVE
JOURNAL

Managing stakeholder, client and executive
relationships

 

Submitted
by:

Satish
Kaushik (C0695981)
Sukhpal Kaur(C0695597)

 

Submitted
to:

Sandee
Vincent

 

 

 

 

Table
of content                                                       
             Page no

1.
Summary………………………………………….

2.
Executive involvement in enterprise project management………………………………………….

3.
Reasons to avoid executives ………………………

4. References……………………………………………….

 

 

Summary:

Executive
involvement in enterprise project management: As per the EPM
stands for enterprise project management so, there should be someone who always
represents an enterprise in a project. For this representation of enterprise,
some executives can help the organization. Now, it is not easy for most of the
organizations to find the right executives. To find the appropriate executives
for the enterprise, the entire project management staff must go through
struggles for the successful EPM. Senior management has two options for the EPM
either senior management can be a hindrance or provide a help to EPM project. Some
of the companies do not prefer executives to their enterprise project
management as per their expectations, needs, and demands. There can be numerous
reasons for a company to avoid executive’s involvement. Normally. It is
believed that more the executives involve within the project management staff
more will be the findings to achieve the goal of the project. It depends on the
organization according to their structure and different requirements that how
the organization wants their executives should be involved. Therefore, it is
not essential that one step which is taken for one organization’s executive’s involvement would be same as the
other one. The procedure may vary step by step and according to organizations.

 

Agreement
for the importance of having executive involvement for a successful EPM:

These are some point which agrees the fact that
executive involvement is important for successful EPM.

1.      Some
organizations are broken or no longer exist because of some actions of different
business units. With the executive sponsor
benefits, the sponsor can select an effective team and can keep the
selection team on a right track and work together with the team towards same
business goals.

2.       Resources are much important to meet the
business goals. So, the sponsor always is careful that the EPM selection and
implementation team has enough resources they need for working towards the
goals. If the team has resources, then they can improve the planning process
and take effective actions.

3.      It
is the responsibility of the executive sponsor to make sure that all stakeholders of
the organization are properly recognized to help the selection team for
working towards the business goals. Stakeholders must have the adaptability or
versatility to support the team’s efforts. If the stakeholders are properly
identified and mobilized, then this will improve team productivity and
effectiveness.

4.      The
other leaders within the organization
should be engaged in the activities of the business. With the support of other
members, there is a possibility to
improve business performance and proper
allocation of resources.

 

5.      The
sponsor can have enhanced security for network and business data. In today’s
business world, security of the business is very important. The security of
business transactions, customer’s personal or financial information is under
the threat of security breach. Every company mostly depends on computer
networks today so there is always a threat of cyber-attack. So if the organization has proper EPM software selection and
implementation, then it is a big relief for an organization. With the proper
security, the sponsor is able to communicate and support the project continuously.

 

 

 

Reasons
to avoid executives: The success of the project is always
depending on the efforts done by the whole project team. If the enterprise
project management is the combination of needs, expectations, and scope of the
project if the project is fulfilling these conditions then it is normal to say
that it is a successful project without the involvement of executives.

 

·        
Unable
to find right executive: a single mistake in
the selection of executives can ruin the project. Executives are the important
persons who can lead a project in two ways in a negative and a positive. A
right person for EPM always leads a project in a positive manner, on the other
hand, a person who is not fit for the enterprise project management can spoil
the expectations of a team and other stakeholders.

 

·        
Lack
of knowledge of EPM: it is a very
dangerous thing to know nothing or little about the projects and EPM. If the
executives have less experience and knowledge, then it is very difficult to
give better outcomes.

·        
The
absence of commitment: Some of the
executives are not always be committed to their work in EPM. Most of the
executives come to know about their six to twelve months contracts later, so,
some of the questions are asked by them regarding this commitment and they lack
the agreement.

·        
Conflicts:
it is quite natural that conflicts may occur in between executives and other
team members. Most of the time, rather than to focus on the ongoing project, it
becomes important to solve the conflicts of executives which ultimately put the
project behind the schedule.

 

 

Important
things to keep in mind: There are few
important things which are essential to value the most while managing
stakeholder, client and executive relationship.

§  If
there is a situation when stakeholder’s expectations are in conflict, then it
is a duty of project manager to resolve the conflict and observe relation
within the issues and motivations of stakeholders with the help of
interpersonal skills.

 

§  To
manage the relationships with diverse
stakeholders it is important to share early project plan with them. Try to keep
communications short and till the mark of the summary level.

 

§  To
satisfy stakeholders few things can be done such as set clear objectives,
identification of key stakeholders, priority to requirements of stakeholders
and communicate with them regularly.

          Conclusion:
in the end, I found the conclusion that
executive connections are very important to find the successful project. The
fact that cannot be denied is that executives can lead an entire team and
project in a developing manner. After
all, there should be someone who must understand and be committed to the better outcomes that the EPM represents
and other effects that may result afterward.

 

 

 

 

 

 

 

https://www.pmi.org/learning/library/managing-conflicting-expectations-6893

 

http://www.brightwavegroup.com/our-thinking/top-tips-to-build-and-manage-your-stakeholder-relationships/index.html

 

PMI