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Small Debate:
How do you define Project Success?
Few words about Value Management and Stakeholders Expectations How to define and realize Benefits
Value is Relative
Value
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Available Resources
Required Resources
VALUE
BV = OB - EB BV (Benefits Variance) 0
Benefits = Satisfaction of needs
Source: Thiry, Value Management Practice, PMI 1996
RV = AR - RR RV (Resource Variance) 0
Individuals or organizations positively or negatively affected by, and/or that could influence, the project/decision process or its outcome
Stakeholders Mapping
Adapted from PMBOK Guide 2013, Fig 13-4, p.397 And Johnson & Scholes, 1997
Categorizing Stakeholders
Mapping the Stakeholders on an Influence Grid, considering the 3 Is dimensions: - Interest Influence - Intent
Expressing Stakeholders Expectations
Identifying Needs
Balance which expectations are not only nice to have , but will deliver Value , which ones are not mutually exclusive Prioritize needs, according to the Value balance, include the relevant items as Objectives of the project Perform the Functional Analysis of the project. Define which functions have to be furfilled to deliver objectives, and thus Value
Constructing CSF & KPI
Formalizing Objectives
Defining Functions
Establish which functions constitute the projects CSF, and define the way to measure them through KPIs.
CSF Y/N
Criterion
KPI Level
Flexibility
Categorizing Stakeholders
Communication Plan
Why Whom What Who How When
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Developing appropriate Management Strategies to effectively engage and influence stakeholders, based on the analysis of their expectations and needs and their positioning toward the project.
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Any Questions?
Comments? Anxiety?
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Valense
Organizational Consultants
New York
www.valense.com
Sydney