RELATIONSHIPS: THE KEY TO PROJECT SUCCESS
In project management, we often focus on the "Iron Triangle" - balancing time, quality, and cost. These three constraints form the foundation of traditional project management methodologies, guiding teams to deliver projects on time, within budget, and at the expected level of quality. However, while these factors remain crucial, there's another key element that often determines whether a project truly succeeds or fails: relationship management.
Why Stakeholder Management Matters More Than Ever
Projects don’t happen in a vacuum. Every initiative involves multiple stakeholders - clients, team members, executives, end users, consultants and external partners - each with their own expectations, priorities, and concerns. The ability to manage these relationships effectively can mean the difference between a smoothly executed project and one that struggles with delays, misunderstandings, and missed objectives.
Here’s why effective stakeholder management is just as - if not more -important than strictly adhering to time, quality, and cost constraints:
1. Adaptability & Flexibility
No project is immune to challenges. Unexpected issues will arise - whether it’s shifting requirements, budget constraints, or unforeseen technical difficulties. How these challenges are communicated and managed with stakeholders often determines the project's ultimate success. Engaging stakeholders early and consistently helps ensure that roadblocks can be addressed collaboratively rather than becoming points of conflict.
2. Alignment with Project Objectives
A project can meet all its technical specifications but still fail if it doesn't align with stakeholder needs and expectations. By prioritising relationship management, project managers ensure that stakeholders remain engaged, their voices are heard, and the project stays on course to deliver meaningful outcomes.
3. Enhanced Project Outcomes
According to research, organisations that excel in stakeholder management are 2.5 times more likely to deliver successful project outcomes. This isn’t surprising - when stakeholders are actively involved, they provide valuable insights, support critical decision-making, and contribute to smoother execution.
4. Risk Mitigation
Risk is an inherent part of any project, but effective stakeholder management helps mitigate it. By involving stakeholders throughout the project lifecycle, potential risks can be identified and addressed early, preventing costly disruptions down the line.
5. Long-Term Success & Sustainability
While delivering a project on time and within budget is important, stakeholder satisfaction often determines its long-term success. A project that technically "succeeds" but fails to meet stakeholder expectations can still be considered a failure. On the other hand, a project that faces delays or budget overruns but ultimately delivers value to its stakeholders is more likely to be seen as a success.
The Shift in Success Metrics
Traditional success measures are evolving. Reports like those from the Association for Project Management referring to the National Audit Office, suggest that stakeholder perception should be a primary measure of project success, rather than just time, cost, and quality constraints. This shift reflects the growing recognition that delivering value—rather than just deliverables—is the true mark of success.
How to Prioritise Stakeholder Management in Your Projects
Focusing on stakeholder relationships doesn’t mean ignoring time, cost, and quality. Instead, it means managing these factors in collaboration with stakeholders and leveraging your relationships to create the best possible outcomes. Here’s how:
✔ Set Realistic Expectations – Be transparent about project constraints and work with stakeholders to set achievable goals.
✔ Facilitate Open Communication – Regular updates, clear reporting, and active listening can prevent misunderstandings and foster trust.
✔ Engage Stakeholders Early and Often – The earlier stakeholders are involved, the more invested they become in the project’s success.
✔ Be Proactive in Managing Changes – Change is inevitable, but involving stakeholders in decision-making ensures smoother transitions.
✔ Measure Success Beyond Deliverables – Consider stakeholder satisfaction, user adoption, and long-term impact as key success indicators.
In Summary
While managing time, quality, and cost remains essential, relationship management is the secret ingredient to true project success. The ability to build strong stakeholder relationships, set clear expectations, and maintain open communication can be the determining factor in whether a project meets its objectives and delivers lasting value.
