Stakeholders

Definition

Stakeholders are all entities that have an interest in a given project.

Purpose

The purpose of identifying and engaging stakeholders is to ensure that the needs, expectations, and concerns of all interested parties are considered and addressed throughout the project lifecycle.

Examples of Use

• In construction projects, stakeholders include clients, architects, contractors, and local authorities.
• In business, stakeholders can be employees, shareholders, customers, and suppliers.
• Community development projects involve stakeholders such as residents, government agencies, and non-profit organizations.

Related Terms

• Project Management: The process of planning, executing, and overseeing a project to achieve specific goals.
• Stakeholder Engagement: The practice of involving stakeholders in decision-making and project activities.
• Stakeholder Analysis: The process of identifying and assessing the influence and interests of stakeholders in a project.

Notes

Effective stakeholder management is crucial for project success, requiring clear communication, collaboration, and consideration of diverse perspectives to achieve desired outcomes.