Question

Search the internet for articles related to dealing with project sponsors. Summarize two good articles in a memo that you could send to a new project manager, offering advice on how to effectively engage sponsors.

Answer 1

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Project sponsors like other onvalued partnerships cannot be considered as a donation, rather, it should be considered as a strategic investment on the part of the sponsors. Therefore, to deal with the project sponsors, a manager needs to be aware of the dynamic of the relationship between the company and the sponsor. They need to be prepared for a presentation, have exhaustive market research data and statistical values that the project will develop in order to be at the same page with them. Not only would they require a business based approach but also analytical values to support the project evaluation, communication skills negotiation ability. This would be the most crucial way the sponsors can be approached with their queries and would recognize the ability of the company to provide them with the results that they require for their investment to be returned.