When embarking on a software implementation project, securing strong executive stakeholder involvement is not just a best practice—it’s a necessity. The active participation of executive-level project stakeholders ensures the implementation aligns with strategic goals, mitigates risks, and drives measurable outcomes.
Our solution implementation experts help businesses across industries successfully navigate challenging software upgrades. Along with our technical and solution expertise, we specialize in complex software project management, giving us unique insight into the structure of successful implementations.
This article explores the vital role executives play during the implementation phase of a pricing project, the risks of insufficient involvement, and actionable strategies to keep these stakeholders engaged.
Before we delve in, here’s more about this series.
These articles are designed to meticulously unfold the complexities of pricing software implementations. Our approach provides a clear roadmap from the project outset, introducing each crucial phase in detail, making it easier to absorb and apply the information effectively. This article represents the fourth installment in the series, covering executive project stakeholders.
Over the course of this series, we will cover the following topics:
Building buy-in at the executive level is vital for successful project outcomes. The executive project stakeholder provides high-level support and visibility within the organization, offering strategic direction, securing essential resources, and championing the project across executive teams. Their involvement is vital for overcoming bureaucratic hurdles and facilitating smooth decision-making processes. Moreover, your executive stakeholder will confer the following essential benefits.
No project operates in a vacuum. Business realities like mergers, personnel changes, or unexpected market events can disrupt even the most carefully planned initiatives. Executive stakeholders provide the authority and context needed to navigate these challenges effectively. Their role involves approving adjustments to budgets, timelines, or project scopes when necessary.
Executive project stakeholders possess the "power of the pen," meaning they have the authority to approve or deny changes quickly. Simultaneously, their involvement ensures that adjustments are deliberate and aligned with organizational priorities, rather than reactive or misaligned with the original justification for the project.
Before the decision to invest in pricing software or hire a system integrator, executive sponsorship is crucial for aligning the project with business objectives and securing a budget. Their commitment at this stage sets the foundation for future decisions and ensures the project's justification is clear to all stakeholders.
During implementation, the executive sponsor ensures continuity of the original goals, making necessary adjustments while maintaining focus on the anticipated ROI. This involvement keeps the project aligned with its strategic purpose, even as challenges arise.
Without high-level visibility the project risks becoming disconnected from its intended purpose, diminishing its value to the organization. Executive sponsors will provide high-level approval of the project’s goals, thereby eliminating potential delays caused by a lengthy attempt to get a rubber stamp on each individual objective.
Projects often begin with clear expectations in terms of ROI. Deviating from the initial goals can undermine these projections, leaving stakeholders questioning the project’s value.
The executive sponsor will remain committed to the ROI projections established during the project's inception. They will carefully evaluate alterations to the initial objectives to ensure they align with long-term organizational value.
Without a clear executive-level advocate, projects risk becoming a collection of loosely connected tasks. New, unaligned goals can enter the mix, leading to extended timelines and inflated budgets.
Scope creep is a common risk in implementation projects. Changes to the project scale, timeline, or budget should be escalated to the executive sponsor, who has the authority to approve adjustments while safeguarding the project's overall objectives.
Unexpected events—referred to as "black swan" events—can disrupt the project. Executive stakeholders help the team navigate such challenges, ensuring that decisions are made quickly and with the necessary context to avoid jeopardizing the project.
For example, implementation projects frequently encounter challenges requiring rapid decisions. Without empowered executives on the steering committee, delays in resolving conflicts can hinder progress and erode stakeholder confidence.
Typically, executive stakeholders are leaders at the VP or C-suite level, such as Chief Sales Officers or Chief Financial Officers. Their organizational perspective allows them to align the project with overarching business goals, ensuring buy-in from other senior leaders.
One of the key misconceptions about executive involvement is the assumed time requirement. In reality, the commitment can be as minimal as one to two hours per month, primarily focused on attending monthly steering committee meetings.
These meetings provide a platform for executives to:
Executive stakeholder involvement is the cornerstone of successful pricing project implementation. By defining clear goals, providing decision-making authority, and maintaining alignment with strategic priorities, these leaders ensure that projects deliver measurable outcomes.
With minimal time commitments and a structured approach to involvement, executives can balance their responsibilities while playing a pivotal role in steering pricing projects to success. Their engagement not only mitigates risks but also serves as a catalyst for achieving long-term organizational value.
To learn more about executive roles in software projects, read this step-by-step guide to managing successful projects.