How to do stakeholder analysis in 3 easy simple steps to guide to an effective project planning

How to do stakeholder analysis in 3 easy simple steps to guide to an effective project planning

What is Stakeholder

Taking any company decision. Ask stakeholders.  

Developing a product. Consult with stakeholders. 

Expanding your presence. Discuss with stakeholders.  

You hear the word ‘stakeholders’ a lot in the corporate world. If we break the word, it means ‘someone holding a stake’. Stake means an interest in an enterprise or project or activity.  

So, stakeholder means someone having an interest in your company. For a project, a stakeholder means a person who can affect the project or get affected by it. A stakeholder can be an individual, a group, or an organization.  

Stakeholders can be internal or external and from any position in an organization. They may have direct or indirect involvement in the project. Either they impact the project, its execution, and outcomes or get impacted by it. 

Different types of stakeholders of a business are: 

  • Owners 
  • Customers 
  • Suppliers 
  • Employees 
  • Investors 
  • Communities 
  • Government associations and agencies 
  • Media 
  • Creditors 
  • Industry associations 

Categories of Stakeholders

Category 1: Internal vs External

External stakeholders are external to the business, but either directly impact or get impacted by the project. Example: vendors, customers, communities, etc.

Internal stakeholders exist in the company and are directly influenced or impact the project. Example: employees or owners.

Category 2: Direct vs Indirect

Indirect stakeholders do not affect the project directly, but their interests may be affected positively or negatively by the project. They are concerned only about the outcomes of the project. Example: customers.

Direct stakeholders are directly involved in conducting the activities and tasks related to the project. Example: Employees.

Category 3: Primary vs Secondary

Primary stakeholders are the key stakeholders with the highest level of impact on the project or getting highly affected by the project. Example: Owners, customers, and shareholders (in a large company).

Secondary stakeholders provide the required support to complete the project but have no big say in project decisions. Example: Suppliers, creditors.

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What is Stakeholder Analysis

The process of identifying all stakeholders of a project is called stakeholder analysis. It also includes evaluating the impact they will have on the project or business. The impact is based on the assessment of their involvement or interest in the project.

Company-wide stakeholder analysis helps you to understand all the members involved in the business and at what level and participation. Project-specific stakeholder analysis helps you to identify stakeholders, understand their interest in the project, and determine the ways to enhance interaction with them and between them.

Purpose of Stakeholder Analysis

The reasons for which you must engage in stakeholder analysis include:

Key inputs about the project

You need to know your stakeholders’ points of view regarding the project. This will help you look at the project from different perspectives than yours. Thus, you can get an all-around view of the project to enable you to assess each angle.

Management of resources

With inputs from several stakeholders, you understand the key requirements of the project. It also gives you an idea of the budget that will be required for the project. Not only costs, but with a 360-degree view of stakeholders’ perspective, you comprehend the time, efforts, and other resources required for the project.

Trust group formation

With continuous involvement with stakeholders, they feel that they are important to the project. In turn, they start supporting you in all activities related to the project. This helps you develop a group of trustworthy people that will support you throughout the project execution.

Knowledge about project feasibility

A stakeholder analysis allows you to look at the project from all angles. You can identify the possibility of executing the project in a technical, financial, operational, and scheduling sense. Thus, you can know the viability of the project due to active discussion with stakeholders.

Reduce the possibility of conflict

Due to discussions with stakeholders and an assessment of their needs, you get to know their viewpoints. You are also able to manage the differences between them to bring them in alignment. This allows you to identify the points where they could conflict. Thus, you can better manage the avoidance of such a situation or resolution for conflicting opinions

Successful project planning

You know what people are important to the project and what they expect from the project. You get an idea about the product/service features and thus you can define the performance metrics. Thus, you can make a robust project plan including the project objectives, resources, and execution strategy.

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Process of Performing Stakeholder Analysis

The steps of stakeholder analysis include:

Step 1: Identify your stakeholders

The first main step is to identify the stakeholders of your project. For this, you must list all those individuals or groups who can affect your project. Also, list all those people on whom the project will have an impact.

These may be external or internal, direct or indirect, and primary or secondary stakeholders. Ensure that you do not miss any stakeholder/s because the outcomes may be affected if all are not included. In that case, it is better to include more if you have confusion rather than narrowing the scope.

Step 2: Prioritize the stakeholders

Once you identify the stakeholders, now you need to prioritize them based on their impact. This will require you to assess their level of interest in the project. Or, the level of impact the project will have on them.

For this assessment, you must use stakeholder mapping techniques. Generally, companies use the Power/Interest grid tool. It helps you group the stakeholders into the following four categories:

Low influence and low interest

Stakeholders with low interest in the project with little to no influence of the project on them are secondary stakeholders. In this project, project managers have the choice to not include them at all until the end of the project. But, it would be better to allow some role of theirs in the project.

You can just share the project status reports as and when you produce them and monitor their activities. Or, if the secondary stakeholders request more involvement, you must loop them in. This depends on the criticality and size of the project, industry, and the relationship you have with them.

High influence and low interest

These people are not interested in your project execution. But, they can have a high influence on your project. Generally, this group includes partner or executive leaders whose decisions can impact your project to a great extent.

Since your project affects them in some way, you must make them aware of the basics of your project. Also, provide to them project status reports at frequent intervals to ensure their continued support. Their involvement must be such that they remain satisfied with the project.

Low influence and high interest

This group of stakeholders is highly interested in the project, so they can be highly supportive. But, they do not have much power to take decisions. So, you must keep them aware of the project on a day-to-day basis to ensure their help during any phase of the project.

High influence and high interest

Externally, these include customers and internally, they may be the project sponsors. You need to listen to their expectations carefully and try to achieve those. Satisfy them with the outcomes of the project.

Also, you must update them about the project status at frequent intervals. Collaborate with them on a continuous basis to ensure the project’s successful execution. They have the power to bring a change and hence, manage them closely.

Step 3: Understand your stakeholders’ project needs 

You have the stakeholder list and you know their importance to the project. Now, you must know how to communicate with them and keep them involved with the project. For this, you must know how they feel about the project.  

They might be agreeing to some aspects while not for some aspects. You must find those aspects and try to explain their importance to the stakeholders. For this, you must try to understand their perspective also because all these different perspectives affect the project outcomes.  

You might get a good perspective about the project that you might have ignored until now. So, consider their needs, expectations, and outlook to consider all the factors that may affect the project. Listen to them carefully; you might accidentally come across a solution you were looking for.  

Also, before discussing with them, understand what communication channels they prefer. For some stakeholders, you may need to conduct one-to-one sessions. Some may be more eloquent in brainstorming sessions.  

Understand the type of interest they have in the project. Ask them about their project priorities, motivations, and positive or negative view of the project. With all this information, you will know what information they need and should have for optimized involvement in the project. 

This will help you to gather the required support for your project. Based on their classification and information needs, you engage with them in relevant ways. Thus, you gather their acceptance to provide required support in project execution.  

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Techniques of Stakeholder Analysis

The first technique of stakeholder analysis that we learned above is the Power-interest grid. We will learn two more techniques:

Salience model 

It is a Venn diagram of three circles, each of which represents Power, Legitimacy, and Urgency. Based on the presence and absence of these parameters, seven sections are created within the diagram. The eighth section is outside the circle, which represents non-stakeholders.  

Power means a stakeholder’s influence on the project. Legitimacy means appropriate involvement of the stakeholder in the project. Urgency means stakeholders’ need to receive information about the project.  

Based on the three factors’ Venn diagram, the seven sections are created. Stakeholders falling in each of these sections have a name with specific characteristics as follows: 

  • Core: They have power, urgency, and legitimacy, and hence, you must pay full attention to them. 
  • Dormant: They have power, but no legitimacy and urgency. They do not remain involved in the project. 
  • Discretionary: They have legitimacy, but no power and urgency. You must send them regular updates.  
  • Demanding: They have urgency, but no power and legitimacy. You must provide them with information, but do not spend much time on it, as they are not important to the project.  
  • Dominant: They have power and legitimacy, but no urgency. You must address their needs and expectations.  
  • Dependent: They have legitimacy and urgency, but no power. You must manage them closely. 
  • Dangerous: They have power and urgency, but no legitimacy. You must be wary of them and engage with them cautiously.  

Keep an eye on this diagram during the entire duration of the project. There are chances that a stakeholder’s category may change during the project.  

Stakeholder attitude and knowledge map 

It is also known as a stakeholder knowledge base chart. In this tool, a 4-quadrant mapping of knowledge and attitude of stakeholders is created. Based on this, the four types of stakeholders are: 

Champions 

Champion stakeholders are the ones who are aware of your project and back it completely. You need not pay much attention to them, as they are already supporting. But, you must always value them and not take them lightly. 

Opponents 

Opponent stakeholders are aware of the project but do not support it. They may pose some risks for your project, which you are not aware of. So, employ solid measures to remain alert to the risks such stakeholders pose for the project.  

Ignorants 

These stakeholders are neither aware of the project, nor support it. You must pay full attention to them. With the right, relevant information, it is easier to change their attitude. 

Supporters 

These stakeholders support your project without having much knowledge about it. Nurture them carefully so that you do not lose them.  

Final Thoughts

To execute your project successfully that leads to expected outcomes, stakeholder analysis is crucial. It helps to get new views about the project and thus improve the outcomes. Moreover, analysis of stakeholders helps you to impact more people with the project.

Stakeholder analysis allows you to identify the supporters and opponents of the project. With supporters, you know you need to keep them engaged in the project with constant communication. With opponents, understand their problems and try to resolve them to turn them into supporters.

If you think you want any external help for stakeholder analysis, call Technovisors. We are a leading IT consultant in Ahmedabad, India along with a provider of digital marketing and data analytics services. We help you in every aspect of project management to ensure its success.

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FAQs

Yes, you must do a stakeholder analysis before starting the project. Only then, you will be having a better idea about the project needs and expectations. You will be better aware of the direction to move ahead.

Yes. Stakeholder management is the process of identifying the stakeholders and gaining their support for the project. Stakeholder analysis is the first step of stakeholder management. In stakeholder analysis, you identify the stakeholders and try to understand their needs.  

About the Author

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Pathik Shah

(CISA, FCA, CS, DISA (ICAI), FAFP (ICAI))

Pathik is a multi-disciplinary professional with more than 22 years of experience in compliance, risk management, accounting, system audits, IT consultancy, and digital marketing. He has extensive knowledge of Anti-Money Laundering rules and regulations, and he helps companies comply with legal requirements. Pathik also helps companies generate value from their IT investments.

Best practices to ensure accuracy of requirements management in Agile projects

Best practices to ensure accuracy of requirements management in Agile projects

Understanding requirements management

We all understand and accept that requirements management is extremely crucial for any project. It includes the steps of: 

  • Collecting 
  • Understanding 
  • Refining 
  • Prioritizing 
  • Planning 

If managed well, it leads to the desired outcomes. These outcomes meet the needs of all stakeholders and customers as per the requirements document. But, you need to manage these requirements during the entire lifecycle of the project.  

Managing requirements is comparatively easier in traditional projects where requirements do not change. But, in cases where requirements change, handling them and their achievement is difficult. This is what happens in the case of Agile projects, which are more common nowadays in project management.  

How are Agile projects different from Traditional Projects?

Level of flexibility

In Agile projects, you can make changes to the requirements, and hence, the product. So, you do not have to follow the requirements exactly; you can make changes as per the customers’ or stakeholders’ demands. The key is to get a high-quality product.

In contrast, in the case of traditional projects, you cannot make changes to the project. You define the requirements in the beginning and you stick to them. You have to follow a rigid process with no changes in the project timelines and requirements.

Teamwork in planning

Agile projects involve all team members in the planning process. They own the project and make changes collaboratively. There is transparency in the process that allows for a productive working environment.

A traditional project belongs to the Project Manager. He/she is responsible for planning the project, collecting requirements, and measuring success. Team members just do their work as instructed with no say in the project decisions.

Level of complexity

Managers usually apply Agile methodology in the case of complex projects. When there are multiple factors, an interconnectedness between factors, and overlapping processes, you use Agile. Also, if there is a possibility of changes in requirements, Agile is the best method.

On the other hand, you use traditional methodology for less complicated projects with a few factors and no changes. In this case, you are clear on the beginning state and the end state. You have a defined plan with a budget, required skills, and timelines.

Need for project monitoring

Agile projects involve several small iterations at frequent intervals of time. This requires you to monitor the performance at every small interval. This ensures that the team is accountable for their work and you can measure the success easily.

In a traditional project, you prepare a plan at the beginning and the team follows it. There are no frequent interactions, meetings, or escalations. That is why project success is measured at the end.

That is why it is important to manage the requirements accurately in Agile projects. Any error or missed requirements may not lead to desired outcomes. This will result in worse outcomes for the organization or team involved in the project. So, it is better to follow the best practices for requirements management as mentioned in the below section.

Reduces the chances of failure

Since a BRD mentions the purpose behind the project, the project team understands the importance of the project. It lists the requirements in a clear, complete, and concise way to make it easily understandable for all. Thus, there are no chances of misinterpretations, missing needs, or miscommunication. This improves the possibility of project success.

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Best Practices for Managing Requirements in Agile Projects

The key best practices for requirements management in Agile projects are:

Collaborative work is the key

Collecting requirements is a critical process. You need to use the right techniques and tools to accumulate them. Also, you need to be sure of the information that you are collecting from stakeholders by validating them.

For all this, Agile teams need to be collaborative while collecting and improving upon the requirements. This helps in better representation of all the requirements of the project. Also, active interactions and knowledge transfer between team members make the requirements more clear and complete.

Sometimes, after eliciting requirements from stakeholders, the project team immediately takes up execution. This leads to incomplete planning, improper representation of the business needs, or inadequate understanding of business value. With collaboration, you can ensure the validation of gathered requirements.

Thus, team members need to have meetings to discuss and negotiate the inclusion and exclusion of requirements. This helps to analyze each requirement from every angle and validate its importance for the project. Also, it gives a clear direction to the project’s movement in the future to lead to value generation for the business.

While eliciting and validating requirements, ensure to prioritize requirements based on their criticality to the project. Also, we use very specific and easy words to describe the requirements so that everyone can understand them. You also need to be careful about avoiding any complicated or valueless information.

Putting requirements in the tangible form helps

Writing the requirements in words is one thing, and putting them in visuals gives another perspective to it. It gives more meaning to the words and the team gets a better understanding of those words. Also, it is said that the human brain processes visual content 60,000 times faster than textual content.

The project team understands the requirements better when represented in a visual format. A combination of visual, text, and audio serves as the best format. With better understanding, the team can make decisions faster, thereby making the process swifter.

Visualization tools are just like making the idea of functionality tangible. With this kind of tangibility, it becomes easier for the team to check its validity; to understand whether the requirement makes sense or not in reality. Thus, visualization puts things into perspective giving you a clear view of the project execution.

With such wireframes or prototypes of requirements, you can understand what the requirement looks and feels like. You are also able to see the interrelationships between different requirements, whether they are in contradiction or alignment. Thus, visualize your project requirements to imagine the product and put it into a defined context.

Focus on the present as well as the future

Managing requirements for the project requires full focus and effort. While you are managing requirements, you need to make sure that these represent the current status of the project. You should be able to manage the diversions, if any, in the requirements.

Based on the current risks, you make changes in the plan and work accordingly. But, you should also consider the expected outcomes and possible gaps in the solution. You must plan for the future so that you reach the desired outcomes.

This helps you when the actual problems of the future arise. Because you did not ignore them beforehand and you planned for their handling, your outcomes improve. Thus, knowing the value that the solution will deliver or the pain point that it will address helps in requirements management.

Manage the changes in requirements

In Agile projects, requirements change as the project progresses. Such changes lead to variations in the development process and software functionalities. You need to be sure of such expected changes and make way for possible corrections and adjustments.

The development team must be ready to make these changes. Incorporation of these changes also requires clear communication and collaboration between teams. If they do not work together, either the requirements are not well-communicated or time is wasted.

So, it is better to have a dedicated team member to track all the incoming change requests. He/she must send these to the development team in coordination with the project manager. The project manager can then ensure the incorporation of changes in requirements and verify them simultaneously.

Document the requirements

Generally, project teams believe that since requirements keep changing in Agile projects, it is not necessary to document them. But, that is not true. Documentation is equally important as in any other project.

The biggest benefit of documentation is an organized way of recording requirements. This also helps the team to stay organized and follow the document during the development process. Also, when some issues arise, you can check at what point things went wrong and what corrective actions can be taken.

Also, in the case of Agile projects, when requirements change, you can add the change, but do not delete the older requirement. This ensures tracking of the changes made in every requirement from the beginning of the project. This also helps you to keep the project on track and within the expected timelines.

Thus, document all stakeholder requirements, design specifications, and project tasks. Mention the capabilities and skills required to manage these requirements and the project. And, update the document as and when change requests come.

Final thoughts

Keep these best practices in mind for managing requirements in Agile projects. With this, you will be able to ensure requirements management smartly and tightly. Thus, you can guarantee value generation from the project.

With these practices, you can manage the requirements gathering, validating, and controlling process yourself. You can also hire a professional firm to manage these processes. Such a firm will help you with collecting, reviewing, modeling, validating, and managing the requirements of a project. While you can focus on using the project outcomes for the achievement of business goals and objectives

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About Technovisors

Technovisors is a leading IT consulting firm in Ahmedabad, India. We provide consultation to our clients regarding IT investments and strategies and help execute them. We align your IT goals with the business goals to facilitate their realization. We help you with:

- Devising IT strategy

- Handling implementation of IT solutions

- Finding the right IT resources

- Choosing the right IT vendor for your needs

- Managing IT costs

FAQs

A typical process of requirements management includes steps as below: 

  • Requirements planning to gather requirements 
  • Requirements development to organize, document, and analyze requirements 
  • Requirements verification and validation to verify and test the product 
  • Requirements change management to manage changes as suggested

Yes. The client is actively involved through the entire process of execution of an Agile project. The client keeps suggesting changes to requirements and the project team incorporates those changes. This increases the quality of the product and its alignment with the client’s needs improves. So, it is important to have constant communication with the client in an Agile project.

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About the Author

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Pathik Shah

(CISA, FCA, CS, DISA (ICAI), FAFP (ICAI))

Pathik is a multi-disciplinary professional with more than 22 years of experience in compliance, risk management, accounting, system audits, IT consultancy, and digital marketing. He has extensive knowledge of Anti-Money Laundering rules and regulations, and he helps companies comply with legal requirements. Pathik also helps companies generate value from their IT investments.

11 Key attributes of System Requirements Specifications

11 Key attributes of System Requirements Specifications

System Requirement Specification

A successful software development project takes up a lot of time, money, and effort. However, it is not impossible. It is made possible by understanding the key expectations from the system and working effortlessly to address those expectations through the developed software. The key expectations, purposes, and goals define the final software. And, a listing of these expectations and goals is called a system requirements specifications document.  

What is SRS ?

A system/software requirements specifications (SRS) document describes the software system. It answers questions such as what the software will do and how will the software perform. The SRS document describes the expectations of the stakeholders such as end-users or business owners from the software’s features and functionalities that will make their work easier and efficient. SRS is a framework for the software development team. 

An SRS document describes each feature that the software system must have and each functionality that it should be able to perform. An SRS document details the scope of the work for the software development team who will work on developing the software and implementing it. The developed software must meet all the requirements mentioned in the SRS document. In this article, we tell you the key characteristics of a system/software requirements specifications document.  

Important criteria for any System Requirements Specifications (SRS)

Comprehensive

The SRS document must mention all the key requirements of the software system specific to features, functionalities, design, limitations, and external interfaces. It must talk about the various problems that the software will be able to resolve and the output it will produce for every kind of input data fed into it.

Reliable

There must not be any conflicts between the different requirements defined in the SRS document. For example, there must not be any conflict between the system features and performance expected from the software or between the high-quality output expected from the system and security. Consistency must be followed in terms of specification of features, terms used for inputs and outputs, and actions required to generate outcomes.

Accurate

The SRS document must describe the real-world situations that the software can resolve. It must respond to questions such as what is the current operational atmosphere for the software and how will it interface and interact with that setting. This is difficult to achieve since the real world keeps on changing and therefore, you must ensure to check for the correctness factor frequently.

Viable

The software development team knows what is viable to achieve and what is not from the software. You must be fully aware of the capabilities that the system can have within the given budget and operating environment and what features are difficult to achieve. Therefore, the technical and financial requirements must be interlinked to identify the capabilities and limitations of the system.

Clear

There must be as little ambiguity in the system requirements specification as possible since unclarity may lead to problems in the software development stage. One way to achieve clarity is by mentioning the requirements in clear, simple, straightforward language that every stakeholder understands. You must define the new terms or applications and must structure the sentence in a way that it leads to only one, unique interpretation

Verifiable

You must have in place some tests or inspection techniques that can check whether the software or system developed executes the requirements mentioned in the SRS document successfully.

Amendable

You must be able to modify or amend the SRS easily without much effort. The SRS template must be such that it can take in those modifications easily without affecting the other points. However, you must check the modifications carefully with the already existing requirements for possible overlap or total contradiction. Furthermore, it is also important to keep a reference of all the modifications made to maintain the history of changes.

Placed in order

The requirements for the software or system must be ranked in order of priority and all the stakeholders must approve this priority. This will enable the software development team to understand the importance of each requirement or feature and include them in each iterative cycle of software development. Some of the requirements are essential while some are desirable. Therefore, rank these features as essential, conditional, and optional to distinguish the criticality of each requirement for the system.

Traceable

You must be able to trace the requirement to its source and also to its final output. This will enable the system development team to have a clear view of the requirements and their uses. Because of the traceability factor, each requirement will have a unique identity in terms of origin, design, code, and test case.

Testable

The system requirements specifications must be testable to pass the final approval. You must have the assessment criteria to test its success or failure depending on the mentioned criteria.

Valid 

You must be able to justify the presence of a requirement in the SRS document. Each stakeholder affected by this system or software must agree and approve each of the system requirements specifications mentioned in the document. Their acceptance must follow a process of understanding the requirement and analysing its implication on the output.  

Conclusion About SRS (System Requirements Specifications)

We understand that preparing system requirements specification is a difficult and time-taking process. However, that does not take away the significance of this extremely central part of the pre-software development process. Ensure that the requirements have the above qualities to qualify for inclusion in an SRS document.  

Our Services

You can also contact us to help you with preparing a detailed, clear, accurate, and organized SRS document for you. We, at Technovisors, have the relevant knowledge, experience, and hence, the expertise in developing system requirements specifications for many systems and software for multiple industries.

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About the Author

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Pathik Shah

(CISA, FCA, CS, DISA (ICAI), FAFP (ICAI))

Pathik is a multi-disciplinary professional with more than 22 years of experience in compliance, risk management, accounting, system audits, IT consultancy, and digital marketing. He has extensive knowledge of Anti-Money Laundering rules and regulations, and he helps companies comply with legal requirements. Pathik also helps companies generate value from their IT investments.

Why is continuous monitoring of project progress essential during its execution

Why is continuous monitoring of project progress essential during its execution

Understanding project monitoring

You define the project requirements. 

You develop a project plan. 

You decide the deadlines and budget.  

You have all your resources ready. 

Now, you are ready to execute the project. 

But, don’t you think you need to check during the execution whether you are moving as per the plan or not? Whether you are on track or running off-track? Whether you will be able to achieve the requirements on time within the decided budget or not? 

How would you know all of these when the project execution is on? 

The simple answer to it is that you engage in project monitoring. With project monitoring, you can keep a tab on what is happening in the project. If anything goes wrong, you can rectify it then and there to ensure the project resumes before further delays.  

So, project monitoring is important to keep the project running according to the plan. Project monitoring is a parallel process of project execution. You monitor all the metrics of the project and oversee the execution of activities as planned.  

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Importance of project monitoring

Project monitoring helps you in:

Ensuring achievement of project requirements

You define the project requirements and you aim to achieve those by the end of its execution. Project monitoring helps you in making sure that you meet these requirements. It checks your current status and whether you will be able to achieve the requirements or not going by the current status.

Taking decisions

While monitoring the project execution, you come across data and information. These serve as evidence of either something going wrong or something making good progress. Whatever the case be, based on this, you can take decisions.

If something is going wrong, you may decide to take some corrective actions and improve upon it. If something is going right, you may let it go as it is or expedite it to finish that task faster.

Making necessary changes

When you monitor the project, you can gauge whether you are going in the right direction or not. If not, you can think about the source of the issue and resolve it. You can take necessary actions to bring changes in the process or the project environment, whatever seems feasible.

Gauging team performance

While monitoring the project execution, you keep track of every task. You know who is performing what and what right or wrong they are doing. This facilitates you to monitor the performance of every individual.

You can know whether every individual is performing his or her duties. You will know where they are stuck and what obstacles they are facing. Thus, you can gauge the team performance and individual contribution to project success.

Looking for any uncertainty or risks

While monitoring the project, you come across every element of the project. You can also sense the rise of any unforeseen circumstances that may change the project dynamics. You become aware of potential risks that may affect the project outcomes.

Updating the stakeholders

With an eye on the project execution, you have all the updates on what is happening. You can update all the project stakeholders regarding project happenings. This will develop their confidence in the project team and the success of the project.

Managing project outcomes

When you monitor the project execution, you get to know where you are going wrong. Either you are taking too much time, or costs are going higher, or quality is being compromised, or resources are overburdened.

With continuous monitoring, you can avoid such negative situations. You can make improvements in the situation and balance the aspects of time, cost, quality, and resources. With the right balance, you can achieve the project outcomes within the project restrictions.

Key aspects to monitoring and control of project

There will be many things to monitor in a project. Monitoring of these aspects will help you keep the project on track and deliver the expected outcomes. The key aspects are:

Time

While defining the project plan, you decide the timelines for the project. You mention the start and end date and thus, the duration of each task. So, whenever you are monitoring it, you have to check whether the project is running on time or not.

With monitoring, you will know what every team member is working on, was the task started on time or not, will it end at the stated time or not, why is there a delay, and many more. Thus, you can track the timelines of every task and the overall project status.

Costs

You define the project budget while preparing the project plan. While monitoring, you have to ensure that the project costs remain within this budget. So, you must monitor the cost for every small activity, resource, or any other aspect of the project.

At every instance of a cost being incurred, you must check whether this is within limits or not. Also, if your demand from suppliers increases or the project needs more resources, then it means a rise in costs. So, keep a check on all these costs to ensure you do not incur any losses by the end of the project.

Requirements

The most important element that you have to monitor is requirements. You need to check whether your project execution is leading to the achievement of requirements. These are the key milestones of the project that you aimed to achieve from the very beginning.

You must monitor whether your project process is generating these outcomes or not. By tracking daily tasks, you can keep a better eye on these requirements. You will know whether your project is moving in the right or wrong direction.

Realization of these requirements means meeting the client’s expectations. It is not only about the features of the system, but you also need to check the functionality of the system. So, testing the product is essential to check for its quality. Ensure quality checks at frequent intervals to avoid delays at the last minute.

Resources

You must monitor the resources’ performance as well during the project execution. It is not only about human resources, but the space, environment for the project, materials, or any other resources necessary for the project.

You must monitor how they performed to their best and contributed to the project’s success. In the case of human resources, you can define some key metrics for gauging their performance. And, you can appraise them based on their contribution to the project.

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Tips for effective project progress monitoring

Make it a collaborative effort

Team collaboration for project monitoring will add value to the process. One individual is not responsible for monitoring all aspects of the project. When everyone involved wants a successful project, why not include all of them in project monitoring?

This will allow you to have parallel monitoring in place for different aspects. The team can have discussions, share their thoughts, and get inputs from others. In the end, you can track all project elements and get a 360-degree view of the project status.

Do it consistently 

Do not set the project monitoring schedule and then forget about it. Make it a consistent exercise. Only then you will know the actual status and what factors are creating obstacles in the project execution.  

Sometimes, the manager monitors only a few aspects of the project and does not focus on the overall part. Instead, you must allocate people for monitoring different aspects so that you get the entire picture of the project. Be proactive and identify any problems before they affect the project negatively.  

Prioritize

Not all elements of the project require the same amount of monitoring. Some require a more focused approach, while, for some, intermittent monitoring is enough. Identify all the project elements that need to be monitored and prioritize them.

For example, it is important to focus on time, costs, scope, and resources in project monitoring. These factors affect the project performance the most, and so, they need closer scrutiny.

You need to track whether your project deadlines are met and costs remain within the budget. You need to check if you are aligning with the scope defined in the project plan or you are moving out of scope. You must monitor resources’ performance as well to assess their contribution to the project.

Use dashboards to depict project status 

When you monitor the project status, you do it to report to the senior management or stakeholders of the project. The report must be in such a format that everyone understands it easily and clearly. This is where the importance of visual format plays a role.  

The best way to report a project’s status is through dashboards. Dashboards help you to show your project performance in various effective, clear, and crisp ways. You can highlight the good aspects of the project and the points where improvement is needed.  

Recommend action points for the aspects where you are going wrong 

Monitoring a project’s progress is not only about knowing what is going wrong. You must also suggest the improvements you can make to correct it. Suggest the actions that will lead to smooth, efficient, and timely running of the project.  

Some action points may mean a change in the project plan or execution. Do that. But, before making changes, allocate a team member to manage it before deadlines and with minimum costs. Once the changes are done, monitor them as well for quality and alignment with project goals.  

Use project monitoring tools 

Project monitoring is not an easy task. You have to keep a track of a lot of project aspects. It is better to use the right tools that will make the process easier and better.  

There are many tools available in the market. Use the ones which allow you to have a look at the project elements in different visual formats for better understanding. Use tools that you can customize based on your project type and requirements.  

Tools such as Gantt charts, PERT (Project Evaluation and Review Technique), and many more are available in the market. Such monitoring tools help you to keep all stakeholders on the same page. They are aware of what is going on and you do not have to report them separately on each aspect.  

Conclusion

Since, now you understand why project monitoring is important, make it an important part of your project execution. Understand what aspects you have to monitor and start tracking them as soon as you start the execution. Follow the best practices of project monitoring to ensure maximum success.

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FAQs About project monitoring

You can allocate team members for reporting different aspects of the project. Or, you can implement such tools of project management that generate results from data inputted by participants. You can also conduct meetings between these reporting individuals to get a summary of the status of each aspect of the project.

Do not report to stakeholders the daily project status report. But, maybe weekly or fortnightly report helps. You must keep them informed about any point that needs immediate help or decision from them. They must know what is possible to achieve in the project and what is not possible. If a big milestone is expected to be missed or delayed, stakeholders must know about it.  

About the Author

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Pathik Shah

(CISA, FCA, CS, DISA (ICAI), FAFP (ICAI))

Pathik is a multi-disciplinary professional with more than 22 years of experience in compliance, risk management, accounting, system audits, IT consultancy, and digital marketing. He has extensive knowledge of Anti-Money Laundering rules and regulations, and he helps companies comply with legal requirements. Pathik also helps companies generate value from their IT investments.

Key elements of a business requirements document

Key elements of a business requirements document

Business Requirements Document

Are you planning to start a new project? or 

Are you thinking of expanding to a new geographical location? or 

Are you considering the development of a new product or service? 

Whatever the case is, before moving ahead with the actual process or project, prepare a business requirements document. A business requirements document (BRD) describes the solution for a project or business need. It mentions the critical activities required to be performed to answer the business requirement. It includes customer needs and expectations, the reason for developing a solution, and the challenges faced in the solution’s development and deployment.  

Specifically, BRD acts as a guide to the stakeholders for planning for the solution’s design, structure, features, and benefits that enable them to resolve the business need and thereby, achieve organizational objectives. The business requirements document describes the input for each step and the output expected from each step of the process, thereby preparing the groundwork for all the phases and their deliverables. The key objectives of creating a business requirements document are: 

  • To have all the stakeholders on the same page regarding expectations from the product 
  • To understand how the solution will address the business needs 
  • To act as an understanding between the business and the technology provider regarding customers’ or end-users’ expectations from the solution 

Creating a BRD is an essential condition for any project’s success. The stakeholders such as project managers, project team, subject matter experts, business partners, and any other required team must work on the BRD together. They must be aware of the key components of a BRD and avoid missing any.  

Components of a BRD Document

The key elements that you must include in your business requirements document are:

Executive Summary

This section must be completed at the end after completing all the sections. In this section, you must summarize the project by outlining the key business requirements.

Objectives and goals

In this section, you must include the goals and objectives that you intend to achieve from the project. You must mention the beneficiaries of this project, the achievement expected from its completion, and how do the project goals align with the overall organizational goals. You must mention the key measures of performance that help you to declare the project a success. Write your goals in SMART (specific, measurable, achievable, relevant, and timely) format.

Project scope

Mentioning the project scope is a key requirement, as it allows the team to have a single perspective on what the project intends to achieve within the budgeted time, resources, and money. In this section of the BRD, you must mention the inclusions and exclusions of the project, specifically the boundaries within which the project must work.

Needs statement

This is a crucial section since it answers the question, “Why conduct this project?” You must explain the key reasons behind conducting this project and how it will benefit the company in the short-term or long-term, thereby contributing to business growth.

Requirements

This is the heart of the business requirements document, as it answers the what, when, where, and how of the project. Here, you collect all the information on requirements and document them. You must mention the key requirements in terms of human resources required, financing, technologies, and other resources for the successful completion of the project. You may segment this section in multiple subsections for a clear division of functional, financial, and human requirements. Besides, text format, you can also present it using diagrams, charts, or other creative possibilities.

SWOT analysis

This is a critical component of a BRD since it builds the credibility of the project in front of the key stakeholders of the company who are interested in knowing the benefits of the project to the company and the challenges ahead. You must carefully study and assess the strengths, weaknesses, opportunities, and threats of the project.

Budget and financial impact

In this section, you must mention the key sources of funding for the project. You must be able to write about the sources from where money will be taken for this project and how the financing will be structured so that the continuity is not affected. You must also include the financial implications of the project on the company’s financial statements and standing.

Timelines and scheduling

A key requirement of a project is the timelines for each phase of the project so that it is completed on time. You must mention all the phases of the project, divide them into small sub-phases, and mention the person responsible for the completion of each sub-phase. This section answers the ‘when’ question of the project, giving clarity to all the stakeholders regarding the integrity of the project process. You must also allow some time for unforeseen and uncertain situations that may suddenly affect your project.

Assumptions

You must mention all the assumptions you have taken for the project. It is important to be clear on the assumptions since they do not represent the actual situation and affect the result of the project. These assumptions may relate to the economic situation, industry-specific environment, or customer behavior.

Cost-benefit analysis

You must document all the benefits expected from the project and all the costs and expenses involved in making the project a success.

Conclusion On Business Requirement Document

These are the key elements of a business requirements document. You must ensure to include all the elements to create a clear, comprehensive, and organized BRD document that enables you to successfully carry out the project with no hiccups. You can also outsource this task to professional services firms for the surety of obtaining the best copy of a business requirement document template.

Our Services

We, at Technovisors, provide consulting services to businesses in various sectors regarding the preparation of business requirements documents. Our team has an expert understanding of industry verticals and their businesses to commit to creating the appropriate BRD for your business.

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About the Author

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Pathik Shah

(CISA, FCA, CS, DISA (ICAI), FAFP (ICAI))

Pathik is a multi-disciplinary professional with more than 22 years of experience in compliance, risk management, accounting, system audits, IT consultancy, and digital marketing. He has extensive knowledge of Anti-Money Laundering rules and regulations, and he helps companies comply with legal requirements. Pathik also helps companies generate value from their IT investments.

9 pitfalls of enterprise software implementation process

9 pitfalls of enterprise software implementation process

9 pitfalls of enterprise software implementation process

Thinking about implementing a software system in your organization? Then be prepared because it is not an easy process. Anything can go wrong while implementing the software. So, you need to be aware of the common pitfalls and understand ways to avoid or correct them.

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Common pitfalls of software implementation

No purpose for implementation of the software 

You must be aware of the reasons why you intend to implement software. You must know what the organization, senior management, and the team want to achieve with this software. In short, you must know its benefits to your operations and what you will miss if it is not implemented.  

So, make it a practice to define the goals behind software implementation. Also, ensure that these goals are easily understood by the management, team members, and the end-users of the software. They must understand what difference the software will bring to their operations.  

To define the objectives for implementing the software, you must study your current processes. Identify the processes that are not contributing to the achievement of organizational goals. Then, understand the loopholes in these processes that derail them or make them ineffective.  

With this understanding, you must find out what kind of solution will make the processes better and efficient. Once you define the software type, you will be able to build a software requirements list for your business. For each requirement, you must define the metrics that measure its achievement.  

All these steps will facilitate the selection of the best software for your process needs. The list of expectations from the software will define a clear purpose behind implementing the software.  

Lack of software implementation plan 

While introducing new software, you need to plan for it. You need to plan the timelines of implementation, costing, and resources required. You must define the stages of implementation and milestones for each stage to measure your success. 

The absence of a software implementation plan leads to misdirected movements and unrealistic expectations. Either the resources are overused or underutilized, harming the final effectiveness. It might lead to duplication of work, unclear roles and responsibilities, delay, or budget overshoot.  

So, you must ensure to prepare a clear and concise plan for implementing the software. For this planning, you must have the requirements document ready to avoid scope creep. You need to appoint a relevant team, outline the software adoption strategy, and define clear goals to achieve.  

Hurry in implementing the software

Over-eagerness to implement the software before time can create problems. Sometimes, clients keep unrealistic deadlines that you may not be able to comply with. Because of the approaching deadlines, the developers just finish off the software with pending features or functionalities.

Even the implementation process is hurried. If the software environment, business processes, and end users’ skills to use the software do not match, it may lead to major losses. So, before the implementation, you must check these factors.

Check if the organization has the relevant infrastructure to accept the new IT solution. Also, find out if the end-users need any training to use the software. You must also check if the software aligns with the business processes that it will improve upon.

Employees’ resistance to change

One of the biggest problems you can face in any software implementation is employees’ resistance to it. Change is difficult for most people as they are comfortable in their present roles and responsibilities. You need effort and time to adjust to it. Not everyone is ready to prepare for it and learn new things to adapt to it.  

For this, the organization or the software team manager must talk to the employees regarding the change. He/she must explain the advantages of the required software to team members. You must conduct one-to-one meetings or workshops to communicate about the change.   

You must explain the: 

  • Implications of the new software on business processes 
  • Possible positive and negative impact on productivity and outcome of the business 
  • Changes in employees’ roles and responsibilities as well as workload 

For all such discussions, you must have open communication so that employees do not fear the change. Encourage the employees to discuss any kind of concern or issues they have regarding the new software implementation. This will reduce or remove any damaging effect on the process of implementing the software.  

Selection of the wrong vendor

If you are implementing the software in-house, selecting the right project manager is crucial. Similarly, if you are hiring a vendor for software implementation, the right vendor makes your project successful. So, be very careful with your selection process.

If you are hiring a vendor, ensure that it understands your industry and your business needs. Also, check their experience in handling similar projects for businesses in the same industry or the same size. An expert vendor will facilitate a quick and effective software implementation.

If you are doing it in-house, select a competent manager with relevant skills to manage the project. A capable manager can ensure the selection of the best team members with the skills to manage such a software implementation project. Also, he/she must be capable of guiding and motivating the team to manage all aspects of implementation effectively.

Absence of training for software use

Your employees or your client are the end-users of the software. Software implementation does not make sense if you do not train them for software use.

So, train all the users of the software and teach them all its features and functionalities. They must be trained well to use it to make the operations efficient, simpler, and faster. If the software is not being used for the key purposes for which it was bought, you cannot achieve the expected outcomes.

You can conduct workshops for employees to learn in a collaborative setting. You can also conduct brainstorming sessions to discuss issues and their resolutions. You can even ask your software experts to conduct one-to-one coaching for specific functions.

There is also the option of self-learning that employees can adopt. They can use the reference guides and videos recommended by the vendor to learn by themselves. Thus, you must provide different training options to your stakeholders so that they are enthusiastic to learn.

Lack of testing

Software development is crucial before implementing it. But, another crucial factor is the testing of the software. Testing is essential for any software development project but companies disregard it citing time or cost issues.  

If the software is not tested, it may not lead to a successful implementation of expected results post-implementation. You must conduct this testing in live IT environments to know it’s working. Testing in casual setups does not help you find its loopholes or improvement points.  

So, prepare test data and create testing scenarios to check the software’s success. It is also better to test the data more than one time for confirmation. Testing the data makes your data migration a smooth and easy process.   

No commitment of the management 

The management’s attention to the software implementation project is important. By attention, we mean complete approval of it and allocation of resources for it. If the managerial support is missing, then there might be problems during implementation.  

So, your management’s green signal is essential for the successful implementation of software. They must have the time and energy to supervise or monitor the project. They must commit to it wholeheartedly because that encourages project team members.  

Also, with managerial support, you can get approval on resources, timelines, and budget. These three factors help you define the plan and execute the implementation strategy. Their support ensures continuous collaboration and communication between team members.

Lack of communication 

Assigning a dedicated team for software implementation is crucial. But if the communication between them is missing, the process of implementation suffers. Lack of communication means no exchange of ideas, no feedback, and no collaboration happening. As a result, the software implementation will fail.  

So, you must set up a healthy environment of communication between team members. You must encourage everyone to participate in discussions and doubt solving sessions. This leads to a better exchange of ideas and strategies that facilitate effective software implementation.  

Communication is also important to make the employees better prepared for the new software. You must listen to their issues with the new software to effectively address those concerns. Thus, with communication, you can manage the big change happening and help employees adapt to the software.  

Conclusion

We all know “Prevention is better than cure”. So, instead of finding solutions for issues arising during the software implementation process, ensure to prevent it early on. Take care of all the factors mentioned above so that you are prepared for the process.

There are chances you do not face any issues and it is a smooth sailing process. But it is better to be ready so that your processes do not get stuck in between. Prepare your requirements document, team members, and resources and be alert for any uncertain situations.

If you still think, software implementation is not your proficient area, leave it to the experts. Hire a software implementation expert who can manage the entire implementation process. The expert can also help in selecting the right software and the right vendor for your needs.

About Technovisors

We are a premium IT consulting firm in Ahmedabad, India. We help you in your IT initiatives to align them with your business goals. Besides IT consulting services, we also provide digital marketing and data analytics services.

Our IT consultants and expert professionals help you with smooth software implementation. We also help in selecting the right software for your business needs and the right vendor. Our unique approach ensures that there are no technical obstacles, delays, or budget overshoot in your software implementation process.

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FAQs On Enterprise Software Implementation Process

Yes. You must know what expectations do the end–users have from the software. Their list of features and functionalities is important before developing the software. With compliance with their list of requirements, you can achieve more acceptance and success of your software.  

The first step of convincing users is to explain to them the benefits of the new software. They must know why the new software is better than the old one. And, they must understand what are the pain points of the old software, which the new software will correct.  

Moreover, some people are not ready for the change because that will require them to train more and learn more. You must give extra support to such employees by making them understand how they will benefit from it. You must conduct relevant training so that they understand the software functionalities better.  

It is also important to ask for their feedback after the training and initial usage of the software. It is a good way to know any doubts or issues before these lead to bigger problems. Also, employees feel more ready to adapt to the new system because their feedback is being considered.  

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About the Author

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Pathik Shah

(CISA, FCA, CS, DISA (ICAI), FAFP (ICAI))

Pathik is a multi-disciplinary professional with more than 22 years of experience in compliance, risk management, accounting, system audits, IT consultancy, and digital marketing. He has extensive knowledge of Anti-Money Laundering rules and regulations, and he helps companies comply with legal requirements. Pathik also helps companies generate value from their IT investments.

Don’t start planning and executing a project before writing the Project Scope Statement

Don’t start planning and executing a project before writing the Project Scope Statement

Introduction to the project scope statement

Look at the below template:

Project Scope Statement
Project Name –
Project Manager –
Project State Date –
Project End Date (estimated) –
Prepared By –
Date of Preparation –
Approved By –
Background to the Project –
Objectives –
Scope –
Team Members –
Assumptions –
Deliverables –
Risks –
Stakeholders –
Required Resources –
Time and Cost Estimations –

It is one of the several possible templates of the project scope statement. Not every project scope statement has the same components as above. The components differ based on the nature of the project and the type of business of the company.  

As you can see in the template, the project scope statement describes the project. It lists the tasks that you have to do to achieve the stated objectives within budget and deadlines. It provides a detailed explanation of the inclusions and exclusions for the project.  

The stakeholders of the project must give their approval to the project scope statement. Even the project team is expected to agree to the points mentioned in it before starting the project. So, who is responsible for writing this document? Who ensures that the document is ready before the project starts? 

Responsibility for writing the project scope document

Writing the project scope statement is a skill not everyone possesses. The project manager is responsible for it and must have the relevant skills. The manager must consider every stakeholder’s point of view before writing a project scope statement.

The project manager must network and interact with every stakeholder to get a 360-degree view of the project. A deep understanding of project requirements helps to avoid scope creep. A well-written project scope statement can guarantee a successful project execution and outcome.

Now, we understand what a project scope statement is and who writes it. But, let us also explore the purpose of writing a project scope statement and its components.

Purpose of the project scope statement

Serves as a guideline for the project team

The project scope statement is an essential document for every project. It serves as a strong guideline for the project team to perform tasks. It gives the team members an understanding of what each one should do, by what time, and at what costs.

Reduces confusion

The project scope statement represents what everyone has agreed to for the project. It reduces the chances of confusion or conflict about the tasks. It leads to better management of the project execution, resulting in desired outcomes.

Improves accountability

The absence of a project scope statement leads to over-achievement or under-achievement of objectives. In such cases, team members can find absurd reasons for missing the tasks. So, a project scope statement must be present to do only the relevant, required tasks for the project.

Serves as a piece of evidence for out-of-scope demands

A project scope statement leads to everyone agreeing to the requirements and scope of the project. So, the client cannot ask for any random feature, functionality, or requirement to be added to the product. Even if the client asks, you will have the relevant evidence to show that the added requirement is out of scope.

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Difference between Project Scope Statement and Scope of Work

The scope of work is the agreement between the client and consultant on the work. It provides an outline of the project. It mentions the specific tasks, outcomes, timelines, milestones, and deliverables.

The project scope statement describes the project in detail. It provides information on the plan to achieve the objectives.

Difference between Project Scope Statement and Project Scope Management Plan

A project scope management plan is a plan that describes the project in detail. It follows the process of creating a project scope statement. It includes all the details of the project from the beginning until the end.

The project scope statement is a less detailed document. It is more of a guideline for the team members to follow to avoid any change in direction.

Key components of the Project Scope Statement

The project scope statement serves as a guideline for the project team to execute the project. So, it must have all the necessary elements that describe the project. The main components of a project scope statement include:

Justification

Justification answers the why of the project. It answers, “Why is the project needed?” or “What purpose does the project fulfill?” It explains the reason for planning and executing the project.  

The justification section includes the objectives and goals of the project. You must mention the project objectives and also show how these align with the business objectives. Realization of one or more project objectives leads to the achievement of business objectives.  

You must state the objectives in a clear, accurate, and meaningful way. Also, get it clarified and reviewed by the stakeholders to avoid any confusion. You must ensure that project objectives are SMART: 

  • Specific 
  • Measurable
  • Attainable 
  • Relevant 
  • Timely 

Description of the Scope

In this section, you have to mention the boundaries of your project. What falls inside the scope and what falls outside the scope are the key points. You describe the results that project execution will produce.

Deliverables

Now, you define the key deliverables at the end of the project. The final product, the final service characteristics, or the final result is the deliverable. It gives a clear idea to the project team of what to achieve.

Acceptance criteria

Customers’ acceptance levels for project results define the acceptance criteria of deliverables. You must define the acceptance criteria so that project team members are aware of them. The team will try to make the deliverables that meet these criteria.

Acceptance criteria are nothing but the expectations of customers from the project. If you do not meet these expectations, the project is considered a failure. You must prepare the acceptance criteria list based on customers’ expectations from the project.

Constraints

You must include in the project scope statement any type of limitations on the project. The limitations may be of any kind – lack of time, fewer funds, or dearth of skills. There may be constraints on the team to follow certain procedures for project execution.

Successful project planning

There might be certain assumptions in your project that need you to make certain changes. You must list these assumptions in the project scope statement for better clarification. Assumptions can be related to time, money, scope, resources, procedures, customers, etc.

Project assumptions may turn out to be valid or invalid during the project. If it is invalid, you need to make changes in the variable or deliverable affected by it. Whatever the case is, you need to mention the assumptions for the project.

Exclusions 

All the other components of the project scope statement define the inclusions of the project. But, the exclusions are equally important for project planning and execution. Here, you mention anything that is not covered in the project scope. Something like: 

  • The product will not have a particular functionality 
  • The services will not include some element 
  • The deliverables will not include a specific report 
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Conclusion

Thus, you and your team members must understand the importance of the project scope statement. Make it a practice to prepare it for every project that you start. It helps you to complete what is expected from the project since it is in writing.

Technovisors can help you in the preparation of the project scope statement. We can help you with similar other documents to ensure the success of your project. We also support you in project execution and management to guarantee results.

We are an IT consulting and digital marketing firm based in Ahmedabad. We help firms with initiating, buying, implementing, and running IT strategies and solutions. Our technology consulting solutions help you manage your IT operations better.

FAQs

Yes. Work breakdown structure (WBS) is the list of outcomes of the project. It defines the list of tasks that you have to do to achieve the desired objectives. You can use a project scope statement to define the parts of every deliverable and hence, results into WBS.  

The project scope statement is a description of the project. It mentions the inclusions and exclusions of a project. It precedes the process of writing a work breakdown structure.

The first step is to prepare the template for writing the project scope statement. The template must have all the components as described in the article above. The next step is to gather all the relevant stakeholders for the project.  

You can have all stakeholders in one room and brainstorm the requirements. You need to fill in the details for all the components. The last step is to get approval from the relevant senior management to finalize the document.  

No, they are different. The project charter includes only a summary of the project scope. The project scope statement describes the project scope in detail.

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About the Author

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Pathik Shah

(CISA, FCA, CS, DISA (ICAI), FAFP (ICAI))

Pathik is a multi-disciplinary professional with more than 22 years of experience in compliance, risk management, accounting, system audits, IT consultancy, and digital marketing. He has extensive knowledge of Anti-Money Laundering rules and regulations, and he helps companies comply with legal requirements. Pathik also helps companies generate value from their IT investments.

Requirements analysis: A look into the process and techniques for better results

Requirements analysis: A look into the process and techniques for better results

What is Requirement Analysis ?

Features of the product/service. 

Actual needs of stakeholders. 

User expectations from a product/service. 

You keep on hearing these phrases before the start of a project. All these are called project requirements. And, the process of determining these is called requirements analysis. It is a crucial element of project management that you cannot ignore.  

Requirements analysis is the process of determining, assessing, documenting, validating, and managing requirements. So, for any new system that is being built or updated, you need to do requirements analysis. It helps you to understand the users’ expectations of the product. 

It defines the features and functionalities that the stakeholders want the product to have. This involves brainstorming, discussions, and negotiations between project stakeholders. The project is considered a success only if these requirements are met.  

In the end, the product features and functionalities must align with the requirements. And, not the other way around. It means that you must not try to modify users’ specifications to fit the final product. And, that is why requirements analysis is important.  

Project managers must conduct requirements analysis before preparing the project plan. This way, the requirements analysis document serves as the guide for the movement of the project ahead. With this, you can assure the achievement of business, stakeholders, and project goals. 

Steps Involved in Requirements Analysis Process

To conduct a requirements analysis process successfully, you must follow the below steps:

Eliciting requirements

The first step is to gather requirements. For this, you must know all the stakeholders of your project. You must also be aware of the basic scope of the project. Now, you need to interact with these stakeholders to collect requirements.

You can use different ways of communication with stakeholders to get them to talk about their viewpoints on the project. You can conduct one-to-one interviews to get answers to specific questions on the project. Or, you can conduct workshops or focus groups with multiple people to make the process faster.

You can also conduct brainstorming sessions with one function at a time to identify their needs. You also interact with your end-users to know their expectations from the product. With several such sessions with every functional department, you will have a list of requirements ready.

There is another way of listing down the requirements by yourself. You can do this based on your existing project knowledge and extensive research.

Now, you can share this list with the stakeholders and ask them to add, change, or remove. Finally, you can collate your list and all the suggestions and make a final list of requirements.

While interacting with stakeholders, remember to keep the discussions within the limits of the project scope. If not, stakeholders might present any kind of expectations that fall outside the project scope. Also, be ready to accept different perspectives, as that will help you look at the complete picture.

Analyzing requirements

Now, you need to assess the requirements for their quality. For assessment, you can start by categorizing them into functional, technical, operational, and transitional requirements.  

You must ensure that the requirements: 

  • Are defined properly so that developers understand them 
  • Have no vagueness or ambiguity in their description 
  • Are clear, concise, and complete 
  • Relate to the business needs 
  • Are relevant to the project 
  • Are feasible enough to achieve them  
  • Are testable to allow software testers to test them 
  • Are easy to be tracked, verified, and validated 
  • Are operationally effective for the project 
  • Are prioritized based on their criticality for the project 
  • Are consistent with other requirements so that no conflict situations arise 

Requirements modeling

Now, present the requirements in different formats to make them more understandable. This helps you to improve the quality of requirements. You can use user stories, visualization tools, flowcharts, use cases, or models.

Such models and representations allow a better understanding of the end product. Such models also depict inter-relationships between different requirements. So, if a change occurs in one requirement, the other is also affected. Thus, models will help you know the dependencies before the product development process starts.

Review and retrospective

Describe all the requirements and relevant models in a document. This will prove to be useful for the project team members in the development and testing phase. Members can also use the document to refer to it whenever needed or as changes occur.

Also, review all the requirements for all its qualities. Ensure that all requirements are complete and easily understandable to everyone. You can document them in the form of a software requirements specification (SRS) document or any specific template of your choice.

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Requirements Analysis Techniques

Various requirements analysis techniques exist in the market to analyze requirements. Some are complex, some have more merits, while some are easier. Depending on your project size, type, and preference, you can select a technique.

The techniques include:

Data flow diagram 

In this technique, you can use visuals to show the process instead of text. As the name suggests, it is a diagram displaying the flow of data through a system. Different notations and symbols are used to depict process, flow, and store.  

Generally, it is used at the time of the requirements elicitation step to give an overview of the software. In later stages, when you know more details on a requirement, you can create smaller data flow diagrams.  

The key benefit of this technique is that it is effortlessly understandable for technical and non-technical people. Also, it depicts the relationships between requirements, which makes the management of requirements easier.  

A demerit of this technique is that it is too time-consuming. Specifically, in the case of complex software requirements, the efforts double.

Gap Analysis

Gap analysis means assessing the gap between the current state and desired state. It is used to check whether the requirements have been met by the software. You also come to know where you are lacking and what is still pending.

It is more of a manual technique where the results are dependent on the person performing the analysis. Even if the gap is identified, it is more important to identify the reasons behind that gap. If that is not identified, filling the gap becomes difficult.

Gap analysis helps you to know what requirements you have met and what are pending. Thus, it gives clarity in your mind about the next requirements to focus on. Also, you are clear on how you must move ahead to improve the software.

Deliverables

It is a visual representation of the project, with a focus on tasks and time taken. Time is mentioned on the horizontal axis along with the allocated person. The vertical axis has a list of tasks and activities.

You have to allocate time for each task, thereby determining its start and end date. Thus, it gives a clear idea to team members about what to do, when to do it, and by whom. Also, it gives a complete picture of the entire project along with the deadline date.

Gantt charts would be difficult in the case of complex projects, which involve many smaller activities. Also, it becomes difficult when you have to make changes to any task, responsible person, or time.

Flowcharts

You can use flowcharts to describe the flow of related activities. You can depict the flow of data or interactions between different requirements. You can make flowcharts in different formats – top-down, linear, or cross-functional.

The best part about flowcharts is they are easy to understand for technical as well as non-technical people. Also, it is easy and simple for the person making the flowchart.

But, it becomes difficult to understand flowcharts of complex processes that depict multiple interactions. You cannot use the same flowchart if there are any changes in the process. You need to draw a fresh flowchart for every process alteration, which takes up a lot of time.

IDEF (Integrated Definition for Function Modeling)

In the IDEF technique, you can model the activities that are necessary for the system design, integration, or analysis. With IDEF, you get a better understanding of the entire system, whether you are a technical or a non-technical person.

Boxes represent the functions of a process. The model also displays the relationships of these functions with child/parent systems. Thus, this technique can be used for any industry or technology.

UML (Unified Modeling Language)

In the UML technique, you can create diagrams to depict the requirements analysis process. You can make a structural model that explains the structure of the system. Alternatively, you can make a behavioral model that explains the activities and processes of software development.

You can choose any one of the UML diagrams available, such as use cases, interactions, sequences, and others. If you use UML, you can display the system’s characteristics, interactions, and behaviors. Thus, you get the idea of the entire software design with the help of UML.

A UML model can serve as an input in a requirements tool to generate the output. But, it becomes difficult to understand UML diagrams in the case of complex processes.

Role Activity Diagrams (RAD) 

As the name suggests, RADs are diagrams depicting the roles of people and activities of the process. Thus, it shows all the activities of a process as performed by people in different roles and responsibilities.  

The merit of RAD is it shows the entire process of performing activities in order. Thus, it is easier and simpler for people to comprehend it. With clarity on roles and activities, communication between people performing these roles improves.  

Business process modeling notation (BPMN) 

In this technique, you can create graphs to depict business processes for better understanding. You have to use flow objects, connecting objects, artifacts, and swim lands. With these objects, you can display the data elements required for various activities and the person performing the activities.  

The advantage of this model is it simplifies the process for team members so that they can easily understand it. But, a demerit is that something that is not a process cannot be displayed in these models.  

User stories 

User stories mean the description of the software from the perspective of end-users. The end-user talks about how the software generates value for him/her. Thus, it focuses on the exact needs of the user and not on what the system can and will do. 

Since the base of this technique is end-users, it is an informal description of the software. It gives a direction to software developers regarding what users want from the software. The best benefit of user stories is that it gives you an exact picture of what the user wants. 

But, the project manager must be able to convert these user stories to technical specifications. Only then, it will serve as instructions for requirements for the development team. User stories can serve as the base for discussion on them later on to develop a full mode requirements list.  

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Conclusion

Now you know the steps of performing requirements analysis and different techniques of doing it. So, get busy with your project and implement the above points for successful project execution. If you are looking for a professional IT consultant to help you with the process, you are at the right place.

About Technovisors

Technovisors is a vendor of premium IT consultant services in Ahmedabad. We are there for your IT needs and restructuring when you need it the most. In addition to these, we also provide data analytics and digital marketing services.

Our expert requirements analysis services are suitable for any simple or complex IT project. Our industry experts are thorough with each step of requirements analysis for your project. We aim to meet your stakeholders’ requirements and to satisfy them with the product.

FAQs On Requirements Analysis

The possible challenges in the requirements analysis process are: 

  • Frequent changes in requirements may affect the process in terms of delays, high costs, or misunderstanding of requirements. 
  • Communication gaps between stakeholders and project team members can affect the requirements elicitation process. 
  • Selection of a requirements analysis technique that is not best suited for the type of project that you are engaging in may affect the results. 

Requirements are categorized into four types as follows: 

Technical requirements: These requirements define the technicalities of a software system.  

Functional requirements: These requirements determine the features and functionalities of the software. It defines how the system must operate as per the viewpoint of the end-user.  

Operational requirements: These requirements represent the background activities required to be performed to keep the system functioning. 

Transitional requirements: These requirements mention the steps of smooth implementation of the system. 

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About the Author

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Pathik Shah

(CISA, FCA, CS, DISA (ICAI), FAFP (ICAI))

Pathik is a multi-disciplinary professional with more than 22 years of experience in compliance, risk management, accounting, system audits, IT consultancy, and digital marketing. He has extensive knowledge of Anti-Money Laundering rules and regulations, and he helps companies comply with legal requirements. Pathik also helps companies generate value from their IT investments.

9 project management challenges and their solutions that every project manager must know

9 project management challenges and their solutions that every project manager must know

9 Project Management Challenges and their Solutions

Time. 

Budget. 

Resources. 

Scope.  

These are the key elements for project management. A project manager needs to manage these well to ensure project success.  

For an IT project, the challenges increase because of the involvement of an additional element – technology. An IT project manager has to manage these elements and the interrelationships between them to improve the outcomes.  

The industry provides many tools, techniques, methodologies, and best practices to manage IT projects. But, when the problems come, identifying the source of the issue and the right solution for it is critical. This is where the project manager can use his/her expertise and experience to remove the barriers.  

Whether it is the designing phase, development, testing, or installation, barriers may arise any time. So, IT project managers must be aware of the approaching challenges for their projects and prepare themselves to address those. They need to stay ahead of challenges and make their elements strong enough to ensure project success.  

In this article, we will discuss the most common challenges found in IT projects. We will also look at the solutions to ensure the success of your project.  

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Common challenges for IT projects

No Clear Objective

If you don’t know what to achieve, how will you move ahead? Without goals, objectives, and expectations defined, you will be directionless. That is why clear objectives are necessary to give one direction to the project.

The solution is to prepare a document mentioning the objectives and ways to achieve them. You must develop a full-proof plan including project objectives, scope, list of requirements, the process to achieve the outcomes, and performance measures.

The plan must include details on how project objectives tie up to the strategic goals of the business. Developing a business case would help develop the understanding better. With the business case, project managers and senior management can decide whether to go ahead with the project or not.

It must also include the timelines, budgeting, and allocation of resources. Also, everything must be in writing to refer to when needed. You must share the document with team members that will be working on the project.

Vague requirements

The biggest thing that can go wrong with IT projects is unclear requirements. If you do not define the requirements well, the project team will not know what to achieve. At the end of the project, there will be some outcomes; but either they will not match with requirements or they will fall short of requirements.

You can solve this problem by framing clear, complete, and concise requirements. For this, you must pay full attention to the requirements gathering process that requires meeting with stakeholders. You must discuss with all possible stakeholders of the project and know their expectations from the solution.

Use different methods of requirements elicitation and document them in an organized way. Use visuals and models to represent requirements in a better way for improved understanding. Once you prepare the document, get feedback from every stakeholder to finalize the requirements.

You must ensure that requirements are clear, complete, and measurable. You must not miss any requirement, as that will lead to an incomplete solution in the end. Also, you must not add unnecessary requirements, as that will lead to delays or costs overshoot.

Over or under budgeting

Over or under budgeting can both lead to problems in project management. If you do the budgeting wrong, execution becomes difficult. If it is less, you are not able to take the project ahead; if it is more, you are wasting money on unnecessary expenses.

The best solution for this is to adopt a proper budgeting tool. This tool will help you make correct assumptions and add their costs to the budget. You must have a well-defined budgeting procedure to avoid missing any key factors that contribute to project costs.

You can categorize your project into small milestones and estimate costs for each milestone. Historical budgeting exercises from past projects will enable you to do it correctly. Also, keep provisions for re-baselining the budget when changes occur.

Unrealistic deadlines

While planning the project, an important consideration is when the project will end. You cannot go wrong with this. When you are too optimistic, or unable to estimate, or the management pressures you to finish it fast, you set unrealistic deadlines.

If you do not deliver on time, either your payment is affected or your impression goes down. There might be other projects depending on your IT project completion; they will also be delayed.

So, the project manager must make it a practice to be realistic when setting deadlines. Identify the skills of your team members and their efficiency in completing tasks. Prioritize the tasks diligently and allocate resources based on skills; then, you will be able to complete the project on time.

Also, ask your team members the time they will take to complete each task. They know it better. Account for the time for quality checks, improvements, and approvals.

Make sure to keep some extra time for uncertain events or changes in requirements. And, keep a deadline for each task and monitor the project execution closely to avoid delays.

Lack of necessary skills

Allocating project tasks without knowing the skill set of your employees is a big mistake. It will lead to your project failure or the quality of outcomes will suffer. So, you need to ensure that you allocate tasks to the right people to generate quality outcomes.

Engage people based on their knowledge of the project, experience in similar roles, and skills. Assess the project requirements and analyze the competencies and capabilities required. Now, assess your existing resources to check whether the skill set is available internally or not. Make a ‘make or buy’ decision.

If yes, include these people in the project and assign them relevant tasks. If not, hire the right people with relevant competencies and allocate them matching tasks. Monitor their performance during the project to make sure they are achieving what is expected of them.

A strategy to ensure they perform well is to make them accountable. While assigning them roles and responsibilities, communicate the same to stakeholders and other team members. By conducting regular checks and associating project performance with appraisal, you can ensure accountability.

Poor communication or miscommunication

Communication is important to help teams collaborate well. For IT projects, a collaboration between IT teams and business functions is a key requirement. Such collaboration helps to understand the implication of technology on business and decisions.

Without frequent and smooth communication, confusions happen. This leads to misinterpretations and misunderstandings. And in the midst of these, it is difficult to collaborate.

Also, the communication of IT teams with vendors and suppliers is critical for project management. This helps you to keep every stakeholder on the same page and deal with different processes. Constant communication helps you avoid disputes despite the differences and to work towards a common goal.

As a solution to this problem, you can define the communication and reporting plan for all. You must define the points of action, which must be communicated with others. As a project manager, you must take the responsibility to share updates and notifications with relevant stakeholders frequently.

You can prepare a communication plan mentioning all possible methods of communication and the person responsible for it. Or, you can have a software tool that will serve as the hub for all updates, discussions, and any correspondence.

Changes and adjustments

Changes, when projects are in the execution stage are a big distraction. There might be changes in scope, requirements, timelines, budget, or priorities. Such changes might lead to modifications in the project plan and even deliverables. This disturbs the entire project and may lead to other problems.

As a project manager, you must factor in potential adjustments to the project in the project plan. You must keep aside some time and budget to manage these changes. You also need to manage your stakeholders and project teams who might not be so acceptable to these adjustments.

While gathering requirements from stakeholders, make this point clear to them. Tell them how last-minute changes will affect all aspects of the project. Also, when new changes are suggested, tell them the impact these changes will have on the project.

Also, since we all know technology is an evolving field, you must be prepared for changes and adapt to them fast. When these changes come, assess them and try to understand the impact on the project. Discuss it with relevant people, redefine the priorities, and communicate the new timelines to the client and stakeholders.

Changes and adjustments

Changes, when projects are in the execution stage are a big distraction. There might be changes in scope, requirements, timelines, budget, or priorities. Such changes might lead to modifications in the project plan and even deliverables. This disturbs the entire project and may lead to other problems.

As a project manager, you must factor in potential adjustments to the project in the project plan. You must keep aside some time and budget to manage these changes. You also need to manage your stakeholders and project teams who might not be so acceptable to these adjustments.

While gathering requirements from stakeholders, make this point clear to them. Tell them how last-minute changes will affect all aspects of the project. Also, when new changes are suggested, tell them the impact these changes will have on the project.

Also, since we all know technology is an evolving field, you must be prepared for changes and adapt to them fast. When these changes come, assess them and try to understand the impact on the project. Discuss it with relevant people, redefine the priorities, and communicate the new timelines to the client and stakeholders.

Team members in remote locations

One of the most common problems of IT projects is having team members in different geographies. This affects the work because people work in different time zones. Also, when the design and development teams are in different locations, teamwork becomes an issue.

Such projects require another level of collaboration to keep everyone aligned at the same time. You need to manage the matching of time, availability of resources, and supervision over required collaboration. It is best to keep a center point – a person who manages all the sharing of information between team members and keeps everyone updated about the project status.

Poor risk management 

There can be many types of risks to a project. Operational risks, strategic risks, financial risks, or risks of uncertainty can affect the project lifecycle at any time. In complex IT projects which continue for a longer duration, there is a risk of new technology taking over the existing technology.  

Any of these risks may harm your project results. There can be many other variables that go wrong and affect project execution. It is a challenge for which the project team must be ready.  

So, you must include risk management in your project planning. Create all possible ‘what if’ scenarios and develop contingency plans for each. You must know all possible risks and ways to avoid or mitigate them.  

You must have a Plan B ready in case a particular risk affects the project badly. Timely identification of risks also helps you to mitigate them on time and hence, avoid negative impact on the project. So, develop and adopt the right risk management strategies to control your project execution.  

Conclusion

Project managers know the drill of completing a project successfully. They have to manage a lot of things. Multiple tasks. Stakeholder expectations. Uncertain situations. Changes in requirements. Many people with different working styles and skillsets. All of these make project management a daunting task.

But that does not deter them from taking up projects. Instead of getting scared, they prepare for the worst but with the hope for the best. So, for this preparation, you can look at the common challenges that IT project managers face and solutions for them.

In addition, project managers need to have the patience to deal with different types of people. They must be ready to persevere and focus on bringing all the elements together to make the project a success. They must be equipped to face challenges and resolve them with their diligence and experience.

How can we help you?

You can also contact Technovisors for any help in the same. We are experts in handling project management for you and deal with every challenge that we come across. We have the capability of helping you with project planning efficiently so that you do not have to face any such challenges.

Technovisors is a prominent IT consultant in Ahmedabad, India. We have been handling IT projects for many clients across the globe. Our expertise lies in focusing on your key requirements and bringing in the relevant changes for your operational transformation.

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FAQs On Project Management Challenges and their Solutions

Yes. When you define goals, you need to define the measures for checking goals’ achievement. This is where defining the success criteria is essential. Once you achieve the outcomes, you can measure them against the performance measures. Based on this, you know whether your project is a success or a failure.  

Yes, many project management software is available in the market. With the software, you can prepare a project plan including all elements. It allows you to execute the project as planned. It also gives you clear visibility into what is going on in the project at any given point in time.  

But, you should be cautious while buying project management software. Understand what features you want, compare the available software in the market, and then select one. You must check features of collaboration, planning, sharing feedback, organized documentation, and resource management.

About the Author

Linkedin

Pathik Shah

(CISA, FCA, CS, DISA (ICAI), FAFP (ICAI))

Pathik is a multi-disciplinary professional with more than 22 years of experience in compliance, risk management, accounting, system audits, IT consultancy, and digital marketing. He has extensive knowledge of Anti-Money Laundering rules and regulations, and he helps companies comply with legal requirements. Pathik also helps companies generate value from their IT investments.

Project stakeholders: Understanding the types, importance, and identification process

Project stakeholders: Understanding the types, importance, and identification process

Defining Project stakeholders

By the word itself, we understand it means ‘people who hold a stake’. So, project stakeholders include all those people who hold a stake in a project. Either they can create an impact on the project or they are getting impacted by the project.

By this definition we know their role in any project is critical. We need to know what they expect from the project. What is the purpose behind doing this project and what outcomes will satisfy the stakeholders? An answer to this question depicts the importance of stakeholders in a project.

Project stakeholders either gain or lose from the project. If stakeholders are happy with the project outcomes, you can call your project a success. If stakeholders are unhappy, you need to find the reasons for their unhappiness or the outcomes that didn’t satisfy them.

Managing these stakeholders and their requirements is what is meant by project management. To manage the project well, you need to identify the stakeholders and understand their needs. You must engage with them throughout the lifecycle of the project to know their feedback.

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Importance of Project stakeholders

Stakeholders are important for any project because of the following reasons:

They give a direction to the project

A project manager manages the project and the project team performs all the tasks. But, what do you want to achieve from the project is defined by the stakeholders. They define their requirements before the project starts.

They mention what they expect from the project. With these expectations, you define the outcomes of the project. Thus, they help you outline the direction in which the project must move to reach the defined goals.

Their expertise works wonders for the success of the project

Stakeholders have an interest in the project because they can gain something from it. They will derive some benefits from it. Since their interest is at stake, they contribute to the project in form of their expertise.

Their expertise in the form of clarifying the outcomes, defining the requirements, and industry knowledge contribute to the project immensely. This results in a higher probability of project success. Thus, with their high investment in the project in terms of time, insights, and effort, you can improve the project’s success rate.

They identify potential risks to a project

At the beginning of the project, you elicit requirements from the stakeholders. During these discussions, stakeholders also talk about potential risks to the project. Since they are better aware of historical projects and have industry knowledge, they know what type of obstacles the project may face.

This can help you to identify the project risks. Thus, you can prepare the project for such risks and develop action plans to fight them. Thus, you can minimize or mitigate risks and improve the success probability of your project.

Their involvement increases the project acceptability

When you involve stakeholders in the project, their loyalty towards the project increases. They feel involved and invited in the discussions of the project. They know they are contributing to the project and feel motivated to give their best.

In the end, when you generate outcomes that align with stakeholders’ requirements, the project gets a positive closure. The stakeholders accept the project and its outcomes because of their continuous involvement in it. They have been aware of all the project variables during the execution, and hence, their acceptability is higher.

Types of Project stakeholders

Categorization of stakeholders can be done in three ways:

Internal and external stakeholders

Internal stakeholders are part of the company; for example, employees, owners, etc.

External stakeholders are not part of the company; for example, customers, suppliers, media, market, etc.

Primary and secondary stakeholders

Primary stakeholders are the people who get affected by the project the most. For example, project managers, owners, and project teams.

Secondary stakeholders are less affected by the project. For example, suppliers, community, etc.

Direct and indirect stakeholders

Direct stakeholders are involved in the day-to-day operations of the project. For example, project team members.

Indirect stakeholders are not involved in the daily activities but are affected by the project outcomes. For example, customers.

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Ways to identify project stakeholders

Identifying the stakeholders of a project is essential to obtain project inputs. They are not the same for every project. So, it is important to identify them before starting the project execution.

You can identify the project stakeholders through:

Project charter

The project charter is an official document that is the proof of authorization of a project. It defines the project and its goals, client, and sponsor. It mentions the team members, stakeholders, and roles and responsibilities in the project.

Thus, you can identify the stakeholders from the project charter. There are other documents such as the contractual agreement with the client, which also mentions the stakeholders.

Engage in brainstorming

For identifying stakeholders, you can conduct a brainstorming exercise. Once the project is finalized, the participants must write the project name in the center. Now, identify and write all the individuals or organizations that will be affected by the project or can influence the project.  

You must write the names of all possible people falling in this category. Mention the name, role, and representing organization around the project’s name. Now, you can identify their types and place them in groups for better comprehension.  

During this exercise among project team members, try to find answers to the following questions: 

  • Who is directly or indirectly involved in the project? 
  • Who will get affected by the project outcomes? 
  • Who will gain from the project’s success? 
  • Who will lose something because of the project? 
  • Who can play a role in the project? 
  • Who can lead to project failure? 
  • Who are the competitors? 
  • Who can make decisions for the project? 

Interviewing project team members

Another way to identify project stakeholders is to interview the project team members. You can interview the project managers and other employees working on the project. You can also interact with the senior management or team leaders to identify the stakeholders.

Reviewing the project influences

Project influences mean the environment and the condition in which the project operates. These include Enterprise Environmental Factors (EEF) and Organizational Process Assets (OPA). By reviewing these EEFs and OPAs, you can identify project stakeholders.  

Organizational process assets mean the assets of the organization that aid in achieving goals. They are internal to any organization. They facilitate your project; you may use them as they are or change some aspects as per the project requirements. OPA includes: 

  • Procedures, policies, general guidelines, and standard templates for carrying out work in the organization. These are unique to any organization and you use them for performing operations. Generally, these do not change, but you can update them rarely, as and when you find it necessary. 
  • The central repository of information, data, and knowledge to be used by the organization. This includes past project files, historical data, lessons learned, a list of stakeholders, and the risk register. You can use these documents as a base and build upon them for the project you are working on.  

Enterprise environmental factors are the internal or external factors that affect the project and its outcomes. These factors can be internal or external to the organization. These factors are outside your control and can affect the project positively or negatively.  

Organizational infrastructure, culture, hierarchy, and resource availability are some of the internal EEFs. Some of the external EEFs include market settings, industry standards, regulations and laws, legal constraints, and the external political environment.   

Some EEAs may be good for your project while some may hinder the project execution. Also, changing EEAs is not under your control; you have to execute your project despite the presence of EEAs.  

Conclusion

Thus, before starting the project, make it a practice to identify all stakeholders. You need to put into practice some tips to manage these stakeholders well during the project. So, stakeholder identification, analysis, and management are essential processes of any project.

Involve them throughout the project lifecycle to know their feedback. Keep communicating with them so that their views and reviews are incorporated wherever necessary. Understand their perspective to drive the project to success.

You can do the stakeholder identification and management process internally. Alternatively, you can engage IT consultants to ensure effective process.

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About Technovisors

Technovisors is a prominent IT consultant in India providing IT consultancy services to several global clients. We are also into offering the best digital marketing and data analytics services to our clients.

We help our clients manage their projects and manage stakeholder expectations as well. Our team of professional experts can help you with identifying stakeholders, understanding their requirements, and achieving those. We incorporate the perspective of every stakeholder of your project into the scheme of things, as that can lead to value outcomes from the project.

FAQs About Project stakeholders

For managing Project stakeholders, you must identify them and their roles and responsibilities for the project. Now, you must understand their requirements and project expectations. Once you have this information, keep them involved throughout the project lifecycle.  

You must know how much information to share with them and at what point of the project. Give them insights on project status, timelines, costs, and achievement of objectives. Thus, they feel their opinions matter and they are valued.

A shareholder is an individual providing some investment in the company. They provide financial support to the company and thus have an interest in the company. Thus, a shareholder is a stakeholder.  

But a stakeholder is not necessarily a shareholder. This is because a stakeholder has an interest in the company whether they give any financial support or not to the company. Stakeholders benefit from the project’s success.

About the Author

Linkedin

Pathik Shah

(CISA, FCA, CS, DISA (ICAI), FAFP (ICAI))

Pathik is a multi-disciplinary professional with more than 22 years of experience in compliance, risk management, accounting, system audits, IT consultancy, and digital marketing. He has extensive knowledge of Anti-Money Laundering rules and regulations, and he helps companies comply with legal requirements. Pathik also helps companies generate value from their IT investments.