Build Winning Stakeholder Commitments

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Build Winning Stakeholder Commitments. How to Earn the Trust of a Stakeholder . © 2010 by Stanford Advanced Project Management. All rights reserved. 1 ...
Build Winning Stakeholder Commitments How to Earn the Trust of a Stakeholder

1 © 2010 by Stanford Advanced Project Management. All rights reserved.

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Meet Today’s Speakers

Thomas J. Kosnik

Carissa Little

Fenwick and West Consulting Professor Stanford Technology Ventures Program Management Science & Engineering

Director, Professional Programs Stanford Center for Professional Development

3 © 2010 by Stanford Advanced Project Management. All rights reserved.

Build Winning Stakeholder Commitments

Our Agenda

1.

How to Earn the Trust of a Stakeholder

2.

Learning More

3.

Q&A

4 © 2010 by Stanford Advanced Project Management. All rights reserved.

H to How t Earn E the th Trust T t off a Stakeholder St k h ld Presented By Tom Kosnik Fenwick and West Consulting Professor Stanford Technology Ventures Program St f d S Stanford School h l off E Engineering i i

This presentation and the Trust Spider are copyright of Thomas J. Kosnik

© 2010 by Stanford Advanced Project Management. All rights reserved.

Agenda • Objectives j • Identify stakeholders for your project • The Trust Spider •

Discussingg trust priorities p at beginning g g off project p j



Assessing performance throughout the project

• Start Stop Keep: a tool for changing behavior to build trust

© 2010 by Stanford Advanced Project Management. All rights reserved.

Objectives • To introduce The Trust Spider: p a tool that can be used to establish trust and diagnose problems that are eroding trust • To introduce Start Stop Keep: a tool for changing behavior to close “trust gaps” and build greater trust

© 2010 by Stanford Advanced Project Management. All rights reserved.

Identify the Stakeholders for your project Internal and external consultants

Project/program team

Shareholders or investors Public-interest groups

Suppliers Project Manager

Clients, Cli t Owners

Government Community y

Non team members Non-team interested in or having input in project

Upper management Mid-management

End users PM’s manager

© 2010 by Stanford Advanced Project Management. All rights reserved.

The Trust Spider Grace under G pressure

Entrepreneurship

Chemistry/ Sense of Humor Perspective/ Humility y

Vision Communication

Integrity

Empathy Cooperation/ Commitment

Competence Fairness Reliability

Responsiveness

The Trust Spider was developed by Kosnik (1995). based on a literature review on qualities of effective leaders. It has been used by hundreds of project teams © 2010 by Stanford Advanced Project Management. All rights reserved.

Mark the 5 qualities that are most critical p with your y Stakeholder to earn yyour trust. Compare Grace under G pressure

Entrepreneurship

Chemistry/ Sense of Humor Perspective/ Humility y

Vision Communication

Integrity

Empathy Cooperation/ Commitment

Competence Fairness Reliability

Responsiveness

The Trust Spider was developed by Kosnik (1995). based on a literature review on qualities of effective leaders. It has been used by hundreds of project teams © 2010 by Stanford Advanced Project Management. All rights reserved.

Example: The top 5 qualities to earn Tom Kosnik’s Trust ? Grace under G pressure

Entrepreneurship

?

?

Chemistry/ Sense of Humor

?

Perspective/ Humility y

Vision Communication

Integrity

Empathy

?

Cooperation/ Commitment

Competence Fairness Reliability

?

Responsiveness

The Trust Spider was developed by Kosnik (1995). based on a literature review on qualities of effective leaders. It has been used by hundreds of project teams © 2010 by Stanford Advanced Project Management. All rights reserved.

Example: Comparing The top 5 qualities off Tom Kosnik ? and his stakeholder? ?

Grace under G pressure

Entrepreneurship

?

Perspective/ Humility y

Vision

?

?

Chemistry/ Sense of Humor

? ? ?

Communication

Integrity

Cooperation/ Commitment

Competence

? Fairness

Empathy

?

Reliability

?

Responsiveness

The Trust Spider was developed by Kosnik (1995). based on a literature review on qualities of effective leaders. It has been used by hundreds of project teams © 2010 by Stanford Advanced Project Management. All rights reserved.

Why is this exercise important? • Different people have different priorities for what it takes to earn their trust. • Failure to communicate priorities at the beginning of a project will likelyy lead to conflict and erosion of trust. • By discovering the stakeholder’s priorities, a project manager can ask: •

How can we best practice that quality on this project?



What are examples of things that violate that quality?

• The project manager can communicate this to the team to insure everyone understands. © 2010 by Stanford Advanced Project Management. All rights reserved.

Exercise: Identify the 5 qualities that are most critical to earn YOUR trust Entrepreneurship

Grace under pressure

Chemistry/ Sense of Humor Perspective/ Humility y

Vision Communication

Integrity

Empathy Cooperation/ Commitment

Competence Fairness Reliability

Responsiveness

The Trust Spider was developed by Kosnik (1995). based on a literature review on qualities of effective leaders. It has been used by hundreds of project teams © 2010 by Stanford Advanced Project Management. All rights reserved.

Exercise: Compare your top 5 five qualities with those off Carissa Little at SCPD. ?

Grace under G pressure

Entrepreneurship

Chemistry/ Sense of Humor Perspective/ Humility y

Vision

?

?

Communication

?

Integrity

Empathy Cooperation/ Commitment

Competence Fairness Reliability

?

Responsiveness

The Trust Spider was developed by Kosnik (1995). based on a literature review on qualities of effective leaders. It has been used by hundreds of project teams © 2010 by Stanford Advanced Project Management. All rights reserved.

Poll 2: How many of the top 5 qualities to earn your trust were the same as Carissa Little’s?



5



4



3



2



1



0

© 2010 by Stanford Advanced Project Management. All rights reserved.

How to get feedback on performance to identify any critical “Trust Gaps” 1. Ask if there are any issues with integrity. If so, focus there first. 2. Ask the stakeholder to draw connected lines on the spider for his/her assessment of your performance. 3. Fill out your own self assessment separately. 4 Compare notes. 4. notes (See example) 5. Identify 1 or 2 critical “trust gaps” where your assessment of your performance f i higher is hi h than th your stakeholder’s. t k h ld ’ 6. Use Start-Stop-Keep to document how you will close the trust gap. Then Th follow f ll up!! © 2010 by Stanford Advanced Project Management. All rights reserved.

Stakeholder assessment of your performance Grace under Entrepreneurship Chemistry/ pressure Sense of Humor Perspective/ Vision Humility

?

?

?

??

Communication

?

Integrity

? ?

Empathy

?

Cooperation/ C Commitment i

Competence

?Fairness

?

?Reliability

Responsiveness

= My Top 5 trust qualities = My y stakeholder’s Top p 5 trust q qualities = My assessment of my performance = My Stakeholder’s assessment of my performance. © 2010 by Stanford Advanced Project Management. All rights reserved.

Your self-assessment of your performance Grace under Entrepreneurship Chemistry/ pressure Sense of Humor Perspective/ Vision Humility

?

?

?

??

Communication

?

Integrity

? ?

Empathy

?

Cooperation/ C Commitment i

Competence

?Fairness

?

?Reliability

Responsiveness

= My Top 5 trust qualities = My y stakeholder’s Top p 5 trust q qualities = My assessment of my performance = My Stakeholder’s assessment of my performance. © 2010 by Stanford Advanced Project Management. All rights reserved.

Compare notes. Where is the most critical p in this example? p “Trust Gap” Grace under Entrepreneurship Chemistry/ pressure Sense of Humor Perspective/ Vision Humility

?

?

?

??

Communication

?

Integrity

? ?

Empathy

?

Cooperation/ Commitment

Competence

?Fairness

?

?Reliability

Responsiveness

= My Top 5 trust qualities = My y stakeholder’s Top p 5 trust q qualities = My assessment of my performance = My Stakeholder’s assessment of my performance. © 2010 by Stanford Advanced Project Management. All rights reserved.

Use Start-Stop-Keep to give each other feedback on specific things you can do to close any T t Gaps Trust G andd to t build b ild greater t trust t t

Start:

Why?

Stop:

Why?

Keep:

Why?

© 2010 by Stanford Advanced Project Management. All rights reserved.

Example: Start-Stop-Keep to close the Trust Gaps on communication Start: Calling my cell and emailing me to let me know if you will be late for a meeting.

Why? I can warn other meeting members so they do not waste time. We can either start later – or start on time and put you later on the agenda. Stop: Interrupting me when I am Why? It makes us less effective speaking. in communicating, breaks my chain of thought, and makes me appear to others as weak and/or lacking in executive presence. Keep: Having our weekly Why? I want to know if project project status meetings. is on schedule and whether there are any obstacles your team is facing so we can deal with them. them © 2010 by Stanford Advanced Project Management. All rights reserved.

Summary • Use the Trust Spider at project start with various stakeholders. • Ask each stakeholder for examples p of ggood and bad performance. • Get you your pproject oject tea team to do tthee Trust ust Sp Spider, de , and a d look oo for o differences in “Top Five” across the team. • Communicate your stakeholders stakeholders’ “Top Top 5s 5s” to your team. team • Monitor performance using Trust Spider. • Use Start-Stop-Keep as a way for stakeholders to give specific ideas on how you can close Trust Gaps and build greater trust.

© 2010 by Stanford Advanced Project Management. All rights reserved.

Appendix: Behaviors related to the qualities on each leg of the Trust Spider Note: You can add, delete or modify the behaviors related to each leg based on mutual understanding and agreement with your stakeholders. The key is for you and your stakeholders to have the same expectations about what demonstrates effective performance that will build greater trust. trust

© 2010 by Stanford Advanced Project Management. All rights reserved.

What Behaviors Are Related to Each “Leg” of the Trust Spider?

© 2010 by Stanford Advanced Project Management. All rights reserved.

What Behaviors Are Related to Each “Leg” of the Trust Spider?

© 2010 by Stanford Advanced Project Management. All rights reserved.

What Behaviors Are Related to Each “Leg” of the Trust Spider?

© 2010 by Stanford Advanced Project Management. All rights reserved.

What Behaviors Are Related to Each “Leg” of the Trust Spider?

© 2010 by Stanford Advanced Project Management. All rights reserved.

What Behaviors Are Related to Each “Leg” of the Trust Spider?

© 2010 by Stanford Advanced Project Management. All rights reserved.

Build Winning Stakeholder Commitments

Our Agenda 1.

Build Winning Stakeholder Commitments

2.

Learning More

3.

Q&A

30 © 2010 by Stanford Advanced Project Management. All rights reserved.

Stanford University and IPS have created education programs focused on improving strategic execution Stanford Advanced Project Management (SAPM) Program

• Directed by Professor Raymond Levitt, Civil and Environmental Engineering • Developed in partnership between SCPD and IP Solutions, LLC • Meets the career-long education needs of professionals, managers, and executives 31 © 2010 by Stanford Advanced Project Management. All rights reserved.

Courses are available at Stanford, Stanford online, online and at work. work

At Stanford Come to Stanford to engage with faculty and network with professionals from around the world world.

Online Self-paced, online courses may be accessed anytime, anywhere.

At Work Courses can be offered at your workplace for your entire team and customized to your company.

32 © 2010 by Stanford Advanced Project Management. All rights reserved.

Earn the Stanford Advanced Project Management Certificate Required Courses: •

Converting Strategy into Action



Mastering the Project Portfolio



Leadership for Strategic Execution

Elective Courses (select 3): •Leveraging the Customer •Build Winning Stakeholder Commitments (New – June 2011) Relationship •Managing Global Initiatives •Designing the Organization for Execution

•Managing Without Authority

•Executing g Complex p Programs g

g the Integrated g •Mastering Program

•Leading Change from the Middle •Leading Effective Teams

•Project Risk Management •The Strategic PMO: Projects to Enterprise

© 2010 by Stanford Advanced Project Management. All rights reserved.

33

2011 At Stanford Schedule

Pricing for on-campus courses (per course) • Regular Tuition: $2 $2,600 600 • Early Registration: $2,340 • March deadline- January 31 • June deadline - May y1 For more information: Sarah Hughes, Client Services Manager Toll Free +1.866.802.1152 Outside the US +1.650.736.0539 scpd apm@stanford edu [email protected]

http://apm.stanford.edu © 2010 by Stanford Advanced Project Management. All rights reserved.

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Poll 3: What is your level of interest in the SAPM certificate program? •

I would like to learn more about the program



I am interested in attending a March or June on-campus course.



g g the SAPM program g in to my y company. y I am interested in bringing



I am interested in attending courses online.



I have already signed up for on on-campus campus and/or online courses courses.



Please have someone contact me about courses at my work site.



I am not interested at this time.

35 © 2010 by Stanford Advanced Project Management. All rights reserved.

Build Winning Stakeholder Commitments

Our Agenda 1.

Build Winning Stakeholder Commitments

2.

Learning More

3.

Q&A

36 © 2010 by Stanford Advanced Project Management. All rights reserved.

Q&A

Thomas J. Kosnik

Carissa Little

Fenwick and West Consulting Professor Stanford Technology Ventures Program Management Science & Engineering

Director, Professional Programs Stanford Center for Professional Development

37 © 2010 by Stanford Advanced Project Management. All rights reserved.

Thank You for Attending Today’s Webinar

B ild Winning Build Wi i Stakeholder S k h ld Commitments C i June 15 – 17, 2011

For more information: Sarah Hughes Hughes, Client Services Manager Toll Free +1.866.802.1152 Outside the US +1.650.736.0539 [email protected]

R i Register early l and d save $250!

http://apm.stanford.edu © 2010 by Stanford Advanced Project Management. All rights reserved.

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