{"pageinfo":[{"Stamp":"pgo_53bf55b5e1e03","Topic":"Relationship Management","PageTo":"0","PageMark":"2","Header":{"PageNo":0,"Title":{"TitleText":"Relationship Management"}},"Sections":{"Title":{"TitleText":"Relationship Planning","TitleAuthor":"K Srikanth"},"Matter":[{"Para":"
Most often two Stakeholder and Relationship management terms are treated as same in most organization, but Guruttam twins. Here, Stakeholder management emphasis more on the means while management focuses on the end of that means. Guruttam believes there is a silver-lining between, stakeholder management emphasis more on the means while relationship management emphasis more on the end of that means. Communications play a major role in these areas of management.<\/font><\/div>

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Guruttam defines Stakeholder as people or entity involved in a project who set tangible or intangible expectations in a project who set tangible or intangible expectations mostly impacting deliverables during some or all part of project life cycle.<\/font><\/div>

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Stakeholder management seeks tactical solution on objectives laid while relationship management mostly seeks strategic solution on subjective perception. Attending a customer at a bank  counter understanding on stakeholder investment interests and offering good schemes can be stakeholder management while offering the customer a feel of true personal banking or without banker referral requests customer bringing another customer would be signs of better relationship management and a win.<\/font><\/div>

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Thus Relationship planning involves identifying and strategizing types of relationships in the project or business environment or culture. Once identified it is important to also define or list the objectives. For example, answering series of customer queries might be a strategy employed in stakeholder (here a customer) management, while winning customer relationship in terms of value (e.g. dollar worth), quality of service (e.g. good product delivery, minimal turnaround time on support or minimal trails to fix root cause), trust (e.g. transparency, security, teaming) and confidence (e.g. returning customers, can live up to short supply notice).<\/font><\/div><\/div>"}],"Subject":{"Related":"Communications Management"}},"Footer":{"PageNo":0,"Title":{"TitleText":"Relationship Management"}}},{"Stamp":"pgo_53ca081504cc3","Topic":"Relationship Management","PageTo":"0","PageMark":"2","Header":{"PageNo":1,"Title":{"TitleText":"Relationship Management"}},"Sections":{"Title":{"TitleText":"Stakeholder Relationship Planning","TitleAuthor":"Srikanth, K"},"Matter":[{"Para":"
The acquisition of stakeholders in the project life cycle is generally a bell-curve. Stakeholder management strategies vary from phase-to-phase or project-to-project. Stakeholders may define and maintain relationships for a life span based on one or more common cause, benefits. Stakeholders may forcefully disengage or continue the relationship upon degree of interest or bindings between. <\/font><\/div>

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Project manager freedom to manage resource or engage authority depends on role definition and working in Functional, Matrix or Productized structures. Project management office\/team offer project directions and support e.g. mentoring or monitoring. External stakeholders may not directly work on project activities but may help or hinder project progress. Power x Interest, Power x Influence, Ranking of Stakeholders (also called stakeholder analysis), and Hexagon analysis are important means to analyse or know about stakeholders. Managers usually creates stakeholder registers as for storing stakeholder lists, mapping expectations, and recording or updating observations including changes in stakeholders\u2019 views or wish lists of stakeholders during WIP.<\/font><\/div>"}],"Subject":{"Related":"Communications Management"}},"Footer":{"PageNo":1,"Title":{"TitleText":"Relationship Management"}}},{"Stamp":"pgo_53ca081509fe4","Topic":"Relationship Management","PageTo":"0","PageMark":"2","Header":{"PageNo":2,"Title":{"TitleText":"Relationship Management"}},"Sections":{"Title":{"TitleText":"WIP Stakeholder Relationship","TitleAuthor":"Srikanth, K"},"Matter":[{"Para":"
Relationship changes either positive (more understanding) or negative (more misunderstanding) are likely to happen during project work in progress. Hence relationships are constantly evaluated based on commitments made, it may be with a simple email that was promised to be sent at the weekend or issue of check payment for the vendor or specific product asset reaching the customer desk or a bonus promise to employees. In most scenarios, project commitment fails to make a mark of cent percent but there are quite few scenarios where project achieve that mark. Every project manager should thrive to the best to achieve the mark that always does wonders with relationship, making key stakeholders happy. The most benefited stakeholder acknowledges the benefit most time and in fact goes to the extent of offering recommendation and support in future projects.<\/font><\/div>
Hence, just updating the stakeholder register with appropriate status does not mean one has managed the stakeholder or relationship, as said earlier tactical and long term relations do count a lot in project management. <\/font><\/div>"}],"Subject":{"Related":"Communications Management"}},"Footer":{"PageNo":2,"Title":{"TitleText":"Relationship Management"}}},{"Stamp":"pgo_53ca08150a2c2","Topic":"Relationship Management","PageTo":"0","PageMark":"2","Header":{"PageNo":3,"Title":{"TitleText":"Relationship Management"}},"Sections":{"Title":{"TitleText":"End Relationship","TitleAuthor":"Srikanth, K"},"Matter":[{"Para":"Relationship exists until project end date or sometimes unofficially for more duration even after end date, and this is because relationship doesn\u2019t end abruptly in general and nobody wants that way. A normal relationship ending is always sought after, example, in construction team members working in a project site are shifted to new construction site when project end thereby ending the relationship with owner or customer or its members. There are instances where resources stay with the customer from vendor because of strong relationships or vice versa. Care should be taken not to steal human resources because of good relationship with that resource. In case of abrupt ending it means project or important project expectations has not been honoured which is unfavouring the parties involved. Even in such unfavourable scenario, parties try to resolve things amicably, example, before levying a penalty on vendor, owner or purchaser usually tries to warn by memo or so or seek explanation as why levying penalty is not justifiable.<\/font>"}],"Subject":{"Related":"Communications Management"}},"Footer":{"PageNo":3,"Title":{"TitleText":"Relationship Management"}}}]}