Chapter 5. Stakeholder Management
5.0 Learning Objectives and Overview
Learning Objectives
- Describe the process of identifying stakeholders in a project and creating a stakeholder register.
- Explain how stakeholders are managed to meet their needs and expectations, address issues, and foster appropriate stakeholder engagement and involvement.
- List the conditions when project managers need to update the stakeholder engagement plan.
5.0 Overview
A project is successful when it achieves its objectives and meets or exceeds the expectations of the stakeholders: individuals, groups, teams, businesses, corporations, communities, government organizations, or non-governmental organizations who either care about or have a vested interest in a project. They may affect the whole project, its outcomes, some activities, or even only a decision, an activity, or an outcome of the project negatively or positively. Stakeholders may be actively involved with project activities or have something to either gain or lose due to the project. Project managers and their teams spent most of their time communicating and collaborating with the stakeholders. Indeed, project managers themselves spent 90% of their time communicating[1]. This chapter discusses stakeholder management and how project managers should pay attention while communicating with the stakeholders, including their key stakeholders such as project team members, sponsors, internal or external clients, customers, end-users, and regulatory and government agencies.
- Project Management Institute. (2017). A guide to the Project Management Body of Knowledge (PMBOK guide) (6th ed.). Project Management Institute. ↵
