Pensions, Retirement and Old Age

The precessional effect says that the actions you take will affect other people. Common sense says that the more people you impact on, the more likely it is that your actions will affect people who have some power and influence over your actions. These people could be useful supporters of your projects - alternatively they may block your projects.

Age Canada Old Pension We call people who are impacted by our projects/business activities, stakeholders.
A key skill in project management is learning to win support from interested parties or stakeholders. Mastering this skill ensures that your projects are more likely to succeed.

Funds Pension Stakeholder Analysis is the methodology we use to identify who are the key people who have to be on our side and supporting us to ensure that our project succeeds.

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Hancock John Pension The benefits of using a "stakeholder-based approach" are:

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Pension Widow . Stakeholders tend to have opinions which may be sought earlier tin the project cycle than alter. Their knowledgeable input early in the project life, can improve the quality of the project, and give them a sense of ownership in ensuring the project actually happens successfully.
. In gaining support from the more powerful stakeholders we can gain access to more resources - financial, time based and people base.
. When we involve the stakeholders on a regular basis, even if is simply reporting on progress to them, we ensure that they understand what we are doing and are kept abreast of the project status and benefits. If and when we need their active support they are already "on side".
. We can predict what stakeholders' reactions to our project may be and ensure that we are actively marketing the project in a way that will win their support.

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Fund Pension The first step is to identify who the key stakeholders for a particular project are.
Brainstorm in a group if possible, who will be impacted upon by the project.
Local government, regulators, unions, employees, customers, special interest groups, neighbouring sites, businesses, Trades people, contractors, investors, managers, suppliers, financiers/banks, the press, etc.
Stakeholders may be either an organisation e.g. a trade union, or an individual e.g. the trade union delegate.

Robert Macregor, AFFS director, commented that the system was designed to allow employees to interact with their benefits package and develop an understanding of its true value. style list of benefits that an SME may offer its staff. Furthermore, the system incorporates a pension modelling platform which allows staff to see their projected income at the age of retirement.

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The next step is to work out their power and influence over and interest in the project. This activity ensures that we know who we should focus and prioritise our attention, marketing and communications.
To create a power interest grid, on a page draw an X and Y axis.
Label the y axis, "power" and the x axis "interest":

Canadian Pension Plan Where the axes meet, mark both "low" and at the extremity of each axis mark "high"

Department Pension Work Now from our list of interested parties, we mark on the grid, where each person/organisations level of power vs. interest is.

Ibm Pension Those who we identify as having high power and low interest will need nurturing and attention.

Benefit Corporation Guaranty However those who we identify as high power and high interest will need to be marketed to early and regularly in a way which allow them to continue to see the advantages of the project to them. To do this, we ensure that we develop a good understanding of the most important stakeholders so that we can predict how they may respond. This allows us to work out how to win their support

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Marketing and communicating to key stakeholders

Government Pension Once the key stakeholders are identified then all communication with them needs to be in a language an format designed to continue to engage tem and to keep them onside.

Pension Prague To do this - on a page draw a four column table.

Pension Retirement Head up column one, Project Features, and in this column list all of the features of the project that are relevant, and frankly completely irrelevant e.g. building height, number of stories, car parking spaces, likely market, tenants, landscaping etc

Ontario Pension Plan Teacher In column two. Give the column the title Functions, and for each feature, list all the associated functions.

Atlanta Attorney Pension In column three. Give the column the title "Benefits" and list of that benefits of the feature and functions, e.g. Views, return on investment, increase in community interactivity etc

Benefit Canada Pension Plan In column four. This is the most important of all. Head up this column with the title "consequences" and identify what are the consequences to the stakeholder of each of the features functions and benefits. Note that the consequences should always be written from the stakeholders' perspective.

Pension Uk When unsure about the consequences then it may actually be useful to talk to the stakeholders and ask them! Most people are open with opinions and this is a first step in building a successful relationship with them.
To get an easy to use visual report on stakeholders and their impact on the project, we can colour code the Power interest grid. Potential project blockers or critics can be coded in red; Project supporters can be coded green, those who are perceived to be neutral can be coded orange.

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Liz Cassidy, founder of Third Sigma International is an author, Speaker, Trainer and Executive Coach dedicated to facilitating results in the businesses, professional and personal lives of her clients. For more information http://www.thirdsigma.com.au

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Nj Pension Liz Cassidy, founder of Third Sigma International is an author, Speaker, Trainer and Executive Coach dedicated to facilitating results in the businesses, professional and personal lives of her clients. For more information http://www.thirdsigma.com.au

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