Definition of Stakeholder

A stakeholder is any individual, group or organization that has an interest in the success of a project. Stakeholders can be internal or external to the organization and can include customers, suppliers, shareholders, employees, government agencies and other interested parties. They may have a direct or indirect influence on the project.

Role of Stakeholders

The role of stakeholders is to provide input into the project planning process and to ensure that their interests are taken into account during the course of the project. Stakeholders should be consulted throughout the life cycle of the project to ensure that their needs are met and that they are kept informed of progress. It is important for stakeholders to understand their role in the project and how they can contribute to its success.

Managing Stakeholders

It is important for project managers to effectively manage stakeholders in order to ensure successful outcomes. This involves identifying stakeholders, understanding their interests and expectations, engaging them in meaningful dialogue and managing their expectations. Project managers should also strive to build relationships with stakeholders in order to foster trust and collaboration.