Project Stakeholder Management
A stakeholder is any group or individual who can affect or is affected by an organization, strategy or project. All stakeholders are not equal, every stakeholder has his own expectations, and requirements, and he should be handled the way he expects.
According to the Project Management Institute (PMI), the term stakeholder refers to, ‘an individual, group, or organization, who may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project’ (Project Management Institute, 2013).
Stakeholder management is the process of identifying the people, groups or organizations that could impact the project. Stakeholder management analyze stakeholder expectations and their impact on the project. Project stakeholder management develop appropriate management strategies for effectively engaging stakeholders in project decision and execution.
Project Stakeholder management includes the below four processes
• Identify Stakeholders
• Plan Stakeholder Management
• Manage Stakeholder Engagement
• Control Stakeholder Engagement