Tips for Estate Surveyors and Valuers to manage stakeholders in property management by ESV John Achir

An Estate Surveyor and Value ESV John Anodowase Achir said every Estate Surveyor and Valuer needs tips to manage stakeholders in property management.

ESV Achir stated this in Abuja yesterday.

He said that diligent management of stakeholders presents advantages such as advantages gained from insights and resources, better decision making, increased acceptance of the project among others.

He explained that
according to the Nigeria Institution of Estate Surveyors and Valuers Website (NIESV) (https://www.niesv.org.ng) defines Construction/Project Management and property development amongst the professional services of Estate Surveyors and valuers.

Also, According to the Chartered Institute of Project Managers of Nigeria (CIPMN), a stakeholder is any individual, group, or organization that has a vested interest in or may be affected by the project.
“Stakeholders are classified as either internal or external to the project.
“These include The Project sponsor, Project Manager (who in this case is the Estate Surveyor), project team members such as the Engineers, masons, artisans and Subject Matter Experts SMEs who are internal stakeholders whereas regulatory bodies, for instance Development Control), end users, prospective clients, competitors, community groups, suppliers among others are external stakeholders”.

He emphasized that the Project Management Institute (PMI) in PMBOK 6, specifies the following process groups which involves:
The project Manager identifies stakeholders by listing them in a stakeholder’s register, which is updated as the project progresses. You analyze and document their interest, influence and supposed impact on the project.
The power and interest grid is used; this shows who has high or low power to affect your project and who has low or high interest. People with high power need to be kept satisfied, while people with high interest need to be kept informed. Similarly, People with high power/interest are the decision makers and have the biggest impact, people with high power, low interest need to be kept satisfied, those with low power, high interest need to be adequately and those with low power, interest should be monitored.
Others are the salience model which assess stakeholders’ power, legitimacy and urgency to determine the level of attention required.
He noted that the Project Manager plans stakeholder engagement by developing approaches based on their expectations, needs, interest and potential impact on the project, stakeholder engagement matrix which compares the current and desired level of stake holder engagement is drawn up with the headings of unaware, resistant, neutral, supportive and leading is drawn up,
“The Project Manager manages stakeholder engagement by use of interpersonal and team skills to communicate with them to meet their needs and expectation as well as address issues and managing relationship s with people or groups that have interest in the project”.
He maintained that the Project Manager monitors stakeholder engagement which involves keeping track of stakeholders’ interactions, feedback, concerns, issues and risks.
“This is to ensures stakeholders are engaged, informed and supportive throughout the project. Gaps in engagement are also identified and strategies improved or updated. This is done to ensure satisfaction”.