Stakeholder in Project Management – Definition and Meaning
Stakeholders are individuals, groups, or organizations who have an interest in the project, are affected by its execution or outcome, or can influence the project or its success. Stakeholder management—starting with identification and analysis, followed by planning and executing communication and engagement strategies—is critical to project success, as their needs, expectations, and influence must be taken into account.
Example, best practice, and further information
Typical stakeholders in a construction project include not only the client but also the future users of the building, local residents, involved authorities, suppliers, and the project team itself. A key best practice is the early identification and analysis of stakeholders, as well as maintaining a stakeholder register to document their interests and planned management actions. This is a core component of stakeholder management according to the PMBOK Guide and supports agile principles of close collaboration and communication with stakeholders to encourage their engagement and mitigate potential conflicts early.