Value of Bringing Stakeholders into Actuarial Projects

Project Success isn’t just about Timelines ⌛ and Deliverables 📦 It’s about the PEOPLE involved! A while back, I found myself deep into a critical project with tight Deadlines. One afternoon, I had a meeting with our key stakeholders and it felt like I was speaking a different language. They were frustrated, feeling left out of the process and their concerns were palpable. I realized we had been so focused on the tasks at hand that we overlooked the People who could make or break our success. That moment was a wake-up call 📢 I knew we had to pivot our approach to stakeholder engagement. From that experience,  I have learned three vital tips for engaging stakeholders effectively : 1️⃣ Be Transparent ↳ Open and honest communication builds trust. ↳ Share not only progress and successes but also challenges freely. ↳ Transparency fosters a collaborative atmosphere. 2️⃣ Actively Listen ↳ Take the time to understand stakeholder concerns and perspectives. ↳ Listening shows that you value their input and ideas. ↳ Engaging in dialogue can uncover valuable insights. 3️⃣ Provide Regular Updates ↳ Keep stakeholders informed with consistent updates. ↳ Regular communication keeps everyone aligned and engaged. ↳ Sharing progress maintains enthusiasm and commitment. In the end, effective stakeholder engagement is about creating relationships built on : ↗ Trust ↗ Understanding ↗ Communication When we nurture these connections, we not only improve project outcomes but also foster a collaborative spirit that can tackle any challenge. What have you found most effective in engaging your stakeholders? I’d love to hear from your experiences! 🔄 If this resonates with you, feel free to share it with your network. _______________________________________________ Find this valuable, Follow me Emna LAGHBABI for more insights in the future 🌻

Without Stakeholder Buy-In, Prepare to Fail 💡🚫 Getting stakeholder buy-in isn’t just a checkbox—it's the foundation of project success. Here’s how to ensure your project has their full support, bringing everyone on board and avoiding roadblocks along the way. 💬 Engage Early and Often Meet with stakeholders at the beginning to understand their vision and expectations. Keep them updated with regular touchpoints. Action Tip: Schedule monthly reviews to get feedback and align on goals. 🤝 Show the Impact of Their Support Demonstrate how their buy-in drives outcomes and project success. Connect project goals with business value and stakeholder objectives. Action Tip: Prepare a one-pager showing how the project aligns with their goals. 📝 Involve Them in Key Decisions Encourage active participation in crucial decisions to build ownership. Use their insights to refine plans and anticipate risks. Action Tip: Send pre-meeting questions or a poll to gather input and make them feel involved. 🔍 Address Concerns Transparently Be upfront about potential risks and challenges. Show stakeholders how their input can help overcome obstacles. Action Tip: Host a risk assessment session and include solutions they suggest. 📈 Show Progress & Celebrate Wins Together Regularly update them on milestones and celebrate achievements, big or small. This reinforces their role in the project’s progress and success. Action Tip: Share a quarterly "win" update with tangible results and impact. Remember: Stakeholder buy-in isn't optional—it's essential. Without it, even the best strategies can fall flat. Engage, involve, and inspire your stakeholders, and watch your project thrive! 🚀✨ #businessanalyst #stakeholder #stakeholdermanagement #businessanalysis

Everyone talks process. No one talks about this approach to stakeholder engagement in our industry. It's the missing link that changes everything. The secret? It's not about ticking boxes or following a rigid protocol. It's about building genuine relationships. In our industry, we often get caught up in the technicalities and forget the human element. But here's the truth: people make decisions based on emotions, not just facts. I've seen projects completely turn around when we shifted our focus from presenting data to understanding stakeholders' concerns and aspirations. It's about active listening, empathy, and finding common ground. This approach isn't just about getting approval. It's about creating partnerships that last beyond the project lifecycle. When you invest time in understanding stakeholders' perspectives, you're not just solving immediate problems - you're building trust for future collaborations. Remember, stakeholders are not obstacles to overcome. They're valuable sources of insight and potential allies. By engaging them authentically, you're not just managing risks - you're uncovering opportunities. Next time you're planning stakeholder engagement, ask yourself: Am I trying to convince, or am I trying to understand? Let's change the conversation in our industry. It's time we recognise the power of genuine human connection in driving successful outcomes. How can we elevate our engagement strategies to foster deeper connections? Let's explore this together.

𝗜𝗴𝗻𝗼𝗿𝗶𝗻𝗴 𝘀𝘁𝗮𝗸𝗲𝗵𝗼𝗹𝗱𝗲𝗿 𝘀𝗮𝘁𝗶𝘀𝗳𝗮𝗰𝘁𝗶𝗼𝗻 𝗶𝘀 𝘁𝗵𝗲 𝗳𝗮𝘀𝘁𝗲𝘀𝘁 𝘄𝗮𝘆 𝘁𝗼 𝗹𝗼𝘀𝗲 𝗳𝘂𝘁𝘂𝗿𝗲 𝗽𝗿𝗼𝗷𝗲𝗰𝘁𝘀. If your project evaluation stops at deadlines and budgets, you are missing the full picture. Because what truly defines success isn't just what you delivered, it's how your stakeholders experienced it. Your evaluation process should be more than a checklist. It should reflect the needs, feedback, and expectations of the people your project was meant to serve. ✅ Did you deliver what mattered most to them? ✅ Did your process build trust, or break it? ✅ Did they feel heard, involved, and supported? When you evaluate with your stakeholders in mind, you uncover ideas that go beyond performance, you reveal impact. And that’s the kind of value they remember.

❓Are you leading your project... or are your stakeholders? 🤔 Can a project succeed if you don’t fully understand who’s influencing it from the sidelines? Here’s a hard truth: Projects don’t exist without people. And those people — your stakeholders — can make or break your project. As a project sponsor or manager, you must do more than just acknowledge your stakeholders. You need to understand their unique expectations, motivations, and potential impact. 🎯 Whether they’re internal — like owners, managers, or team members 🌍 Or external — like clients, regulators, or community partners …stakeholders hold the keys to project momentum and alignment. When you engage the right people, at the right time, in the right way, you don’t just deliver a project. You deliver value. 👉 So ask yourself: Have you mapped out your stakeholders? Are you actively listening to their concerns and aligning their interests with your goals? 💡 Because the earlier you engage, the fewer surprises you’ll face later. #ProjectEconomy #ProjectManagement #ContinuousLearning 🎯💡