Relationship Management
Definition
"Establish and nurture the links between the organization and its stakeholders at strategic and tactical levels."
To fulfill its purpose, this practice requires:
- Establishing and continuously improving an effective relationship management approach organization-wide
- Ensuring effective and healthy relationships within the organization
- Ensuring effective and healthy relationships between the organization and external stakeholders
Key Terms
Cooperation: "working with others to achieve your own goals."
Collaboration: "working with others to achieve common shared goals."
Relationship model: "a repeatable approach to the management of relationships with a particular type of stakeholder."
Processes
Managing a Common Approach to Relationships
- Analyze organizational culture, strategy, and stakeholders
- Develop and agree key relationship principles
- Develop relationship models for key stakeholder groups
- Embed effective behavior patterns into daily interactions
- Review and adjust approach and models
Managing Relationship Journeys
- Identify stakeholders and relationship model
- Verify and adjust model to situation
- Follow the relationship model
- Manage exceptions
- Review the relationship
Key Metrics
| Metric | What it measures |
|---|---|
| Adoption of relationship management approach | Practice uptake |
| Satisfaction with relationship management | Perceived quality |
| Broken relationships due to non-adoption | Risk impact |
| Organizational climate | Internal health |
| Employee satisfaction with workplace relationships | Internal relationships |
| Attrition due to toxic relationships | Retention impact |
| Organization's external image | Reputation |
| Satisfaction with external relationships | External partnerships |
| Broken external relationships due to RM approach | External risk |
Key Roles
- Relationship manager
- Relationship agent
Recommendations for Success
- Apply a consistent relationship approach
- Review approach regularly
- Measure stakeholder satisfaction
- Integrate practice with value streams
- Develop practice without overcomplicating
- Demonstrate value and involve third parties
Software Tools
- Workflow management and collaboration tools
- Knowledge management tools
- Analysis and reporting tools
- CRM tools
- Survey tools