Stakeholders Management, WHAT, WHY, and HOW?

Each one of us is surrounded by people, for example, families, friends, coworkers, or clients. These people are affecting our lives in a positive or negative way that shapes our personality as well. This kind of relationship with people needs proper communication and management since this communication takes a big percentage of our life. Some studies point out that we spend an average of 70% of our day listening to others and an average of 30% speaking to them.

Similarly, strategic planning, architecture, project management, and other fields are powered by people, people who envision, plan, analyze, design, manage, execute, operate, …etc. Communication with those kinds of people should be managed effectively to ensure that every person not only informed but also involved and contributing to the process whatever it is. We mainly aim to those people as the stakeholders.

In this article, we will discuss who are the stakeholders, and why managing them is important, and how we should do that.

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The successful failure of the Software Projects

The IT systems and applications are everywhere now, from simple to complex systems to run basic data entry to control autonomous cars and autonomous planes and more complicated systems.

Unfortunately, after a lot of research in software process models and project management frameworks, Software and IT projects still have a very high failure rate. According to a study has been made by Mckinsey in 2012

On average, large IT projects run 45% over budget and 7% over time while delivering 56% less value than predicted. That’s beside the common issues of deliverable quality of final software product according to specifications.

Another study from McKinsey in 2014 regarding how to achieve success in large, complex IT projects.

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