What are Stakeholders?
Stakeholders are individuals, groups or organisations that have an interest in or are affected by a project. They can influence the success of a project or be impacted by its outcomes, making stakeholder identification and management a critical part of project management.
-
Project sponsors and funders
-
Team members and project managers
-
Customers or service users
-
Suppliers and external partners
-
Local communities and regulatory bodies
Why Stakeholder Management Matters
Effective stakeholder management is essential to project success, particularly in charities and small businesses where relationships and communication are critical. Understanding stakeholder needs and expectations helps ensure that projects are aligned with organisational goals and reduces the risk of conflict or misunderstanding.
-
Helps align project objectives with stakeholder expectations
-
Improves communication and collaboration
-
Reduces the risk of conflict and project delays
-
Builds trust and support for the project
-
Increases the likelihood of successful outcomes
Governance in Projects
Governance in project management refers to the systems, processes and structures used to guide and control projects. It ensures that projects are aligned with organisational objectives, comply with regulations and are managed in an ethical and accountable manner.
-
Defines roles, responsibilities, and decision-making authority
-
Ensures accountability and transparency
-
Aligns projects with organisational strategy
-
Supports ethical and sustainable decision-making
-
Monitors performance and progress
