Location: PMKI > Stakeholder Management > The Stakeholder Relationship Management Maturity Model (SRMM®).
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The central role of stakeholders in the successful
delivery of projects is becoming increasingly recognized.
However, whilst critical to success, these roles are
neither passive nor predetermined. The organization has
significant opportunities to influence stakeholder’s
perceptions and expectations for the benefit of both the
stakeholders and the project; but only when there are
effective relationships in place with each key
Identifying, mapping and prioritizing a project’s stakeholder community is only the beginning. Projects and other initiatives can only be considered successful when their key stakeholders acknowledge they are a success. This requires the delivery team to effectively engage with each of its key stakeholders to understand and manage their expectations and then deliver the outcome to meet or exceed these ‘managed expectations’. Expectations are never ‘fixed’; effective communication can help change perceptions and expectations to make them realistic and achievable. Conversely, ineffective communications can create the perception of failure in the mind of a stakeholder even when the deliverable is ‘on time, on budget and delivering the specified scope’.
Engaging effectively and ethically with key stakeholders to help create a successful project outcome requires significant levels of skill and maturity. SRMM defines five levels of maturity and suggests a route most organizations can follow to progress from ‘Level 1’ to ‘Level 5’. The 5 levels of SRMM are:
SRMM is based on the Stakeholder Circle® methodology, but any effective stakeholder management process can be used to develop 'stakeholder management maturity'.
PP: SRMM: The five stages of Stakeholder Relationship Management Maturity. Engaging effectively and ethically with key stakeholders to help create a successful project outcome requires significant levels of skill and maturity. This paper will define the five levels of SRMM and suggest a route most organizations can follow to progress from ‘Level 1’ to ‘Level 5’. The 5 levels of SRMM are: Ad hoc, Procedural, Relational, Integrated and Predictive.
Making Projects Work: Effective Stakeholder and Communication Management. Dr. Lynda Bourne: Projects are performed by people for people, with the key determinants of success being the relationships between project teams and project stakeholders. This web of relationships will either enable or obstruct the flow of information between people and, as a consequence, will largely determine project success or failure. See more.
PP: Stakeholder Relationship Management Maturity (SRMM®) - The ROI from investing in building an effective stakeholder management culture - Nordic PM paper . This paper shows the return on investment (ROI) from investing in building an effective stakeholder management culture can be significant and that the SRMM® model is designed to help organizations develop an effective culture of engagement that works for them. SRMM defines five levels of maturity the presentation suggests a route most organizations can follow to progress from ‘Level 1’ to ‘Level 5’. Download the PPT presentation.
PP: Developing Stakeholder Management Maturity in a traditional business: an International Case Study. This paper reports on the work undertaken by a traditional multinational transport company to introduce effective stakeholder management into its terminal operations around the world as a factor that could deliver significant commercial advantage in the operation of the business. The case study describes the project to introduce and support a significant culture change in a major organization and reports on the successful adaptation of a project management methodology, the Stakeholder Circle®, to general business use.
Developing a culture of ‘effective stakeholder management’ was identified by senior management as a factor that could deliver significant commercial advantage in the operation and acquisition of terminals. This paper describes the internal project to develop a ‘Stakeholder Management Centre of Excellence’ to support the intended culture change and then looks at the larger issues of planning and delivering a culture change in a large organization including the required time frame and importance of on-going management support. The paper’s conclusions: