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Project Stakeholder Management
The Project Stakeholders are any person or organization who is affected by the project. Project Stakeholders set the goals for the project and will ultimately determine whether the project is considered a success or failure. Project Stakeholder support is usually a key component in successful projects.
When to use
At the time the project is initiated, the stakeholders should be identified and their goals and objectives for the project should be clarified and captured in the Project Charter. At the time of project completion, the stakeholders should be notified of the project results and their approval obtained. Throughout the project execution, many stakeholders will want to be kept informed about project progress and may want to participate in some project activities and decisions.
All projects have stakeholders. The stakeholders may be only the project team members, but normally they also include managers of the organization and users of the project result. The project team does not manage the stakeholders, but they do manage their interactions with stakeholders.
Many of these steps are expanded into more detail within other project management lessons.
- Projects are normally initiated by one or more Project Stakeholders in order to achieve an organizational goal or objective.
- As the project objectives are identified, it often becomes necessary to include additional Project Stakeholders in the project definition since the goals or objectives will affect them in some manner.
- Once all Project Stakeholders are identified and their goals or objectives determined, the project leader will integrate those objectives and capture them on the Project Charter.
- Throughout the execution of the project, the Project Leader or their designated representative will meet with Project Stakeholders and inform them of the project status.
- At the time of project completion, the Project Stakeholders will review the results of the project and determine if they are acceptable. The stakeholders perspective on success is normally based upon the business objectives being achieved, rather than on a perfectly executed project plan.
Hints & tips
- Some Project Stakeholders provide the resources for the project; ensure you know their objectives and keep them informed on progress meeting those objectives, or they may remove the resources.
- If a key Project Stakeholder does not support the project, leverage the relationship other Project Stakeholders have with that individual or organization to win their support.
- Keep Project Stakeholders informed, especially during a project crisis. When there is a lack of information, they often assume the worst and may withdraw their support for the project.
- Stakeholder Definition: “An individual, group, or organization that may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project, program, or portfolio.” PMBOK® Guide
This definition is taken from the Glossary of the Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Sixth Edition, Project Management Institute, Inc., 2017.
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