Soft factors and their role in individual projects

Information evenings, residents’ consultation sessions, participation options: all these communication measures initially cost time and money. Yet they create intangible resources: reputation, image, acceptance and stakeholder satisfaction. These soft factors are becoming increasingly important in the implementation of projects and often determine the success or failure of an initiative. The role of communication throughout the project is that of an ‘enabler’. Communication creates the conditions necessary to generate these soft factors. Those who ultimately gain acceptance for their project amongst stakeholders are able to carry out the technical planning without delays. The project remains within the agreed timeframe and budget.

Communication as a value creator for the entire company

A positive image and a strong reputation, which can result from individual projects, instil confidence in stakeholders regarding the actions of the entire company. This increases the company’s scope for realising further projects. The inventors of the Balanced Scorecard*, Robert S. Kaplan and David P. Norton of Harvard Business School, attest that for many companies, intangible resources are now significantly more valuable than tangible assets. Soft factors do not simply fall into a company’s lap. Those who have acquired them enjoy a long-term competitive advantage – according to the assessment of the two experts.

Conclusion

(Public) communication does not generate revenue in itself, but it is a key driver of project and corporate success. In its role as an ‘enabler’, (public) communication creates an important prerequisite for value creation across the entire organisation.

*The Balanced Scorecard is a system that links financial indicators with data on customers, internal processes and innovation. It represents the link between corporate strategy and operational activities.