Stakeholders to Consider in Project: – The outcome of a project does not depend solely on the performance of the project manager and his / her team. The project team is an important stakeholder, but it is not the only one. Other people or organizations may have an impact on the success of the project. Some stakeholders are chosen, others are taxed, they may differ depending on the nature of the project, but their roles and influence are generally similar. The success of a project depends on the satisfaction of these stakeholders.
Stakeholders to Consider in Project
Here are the 8 stakeholders to consider ensuring the success of your project.
What is a Stakeholder?
A stakeholder (or stakeholder in English) is a person, group of persons or organization that impact or may be impacted by the project. It can be external or internal to the company in charge of the project. A stakeholder has expectations and / or interactions on the project. It may affect or be affected directly or indirectly, positively or negatively, by one or more aspects of the project. It therefore has interests in the project and has an influence on the decision-making.
Failure to consider, listen to or simply respect the stakeholders may compromise the chances of success of the project.
How to identify the different Stakeholders?
In order to avoid making mistakes or blunders and to ensure the success of your project, it is important to identify all the stakeholders and then to prioritize them according to categories that you have defined beforehand.
Launching a brainstorming session with your team is one of the best ways to identify stakeholders. Start by defining different categories, such as management, staff, clients, media, community … Then fill these categories with the names of the people and organizations that you think could:
- Be affected by one aspect of the project,
- Have an influence on the project,
- Affect or be affected by the execution (or non-execution) of the project.
The different stakeholders of a project
The key stakeholders of your project are:
- The sponsor
- The customer
- The project manager
- The project team
- The management of the company
There are other people or organizations that are involved in your project and can be considered as stakeholders:
- Users of the project
- Public powers
- The Sponsor
This is the person or organization funding the project. It is therefore up to him to make important decisions. The content and quality of the project as well as the timetable and budget are defined by the sponsor.
- The Customer
The client is a natural or legal person for whom the project is carried out. This is the person who buys the project. It can be an external client or the company itself. In some cases, the client is also the sponsor of the project. It is a very important stakeholder.
- The Project Manager
The project manager is responsible for all aspects of the project, from launch to completion. He is the one who organizes and pilots the project. It is responsible for planning, task development, budget management and timelines. In short, it must ensure that the project will be delivered on time and on budget.
- The Project team
The project team is chosen by the project manager. She is in charge of the project. Each member is selected for his or her qualifications and is assigned a number of tasks that he / she must accomplish within the deadlines and budget, as well as the quality required.
- The Management of the Company
The management of the company must support the project manager and his / her team, notably by mobilizing the other departments of the company, but also by facilitating decision-making, by providing a pleasant working environment for the employees, flexible working hours and favorable working conditions.
It is the people or organizations that will use the project or project products. Their expectations, needs and desires must be taken into account to ensure the success of the project. Users should be heavily involved because if one aspect of the project does not suit them, they will not use it. To avoid this, do not hesitate to test the project with prospective users to ensure that it meets their requirements.
Suppliers must provide the equipment, hardware or software required to carry out the project. They may also be subcontractors who work under the direction of the project manager. Delivering materials overdue will have an impact on the project timeline and budget. It is a key stakeholder in the success of the project. Choosing a wrong supplier can defeat your project.
- The Public Authorities
These are the authorities that direct the general administration of the state and enforce the laws on the national territory. For example, when constructing a new plant or bridge, you must consult the government to obtain the necessary permits and know the various constraints. It is a very important stakeholder because if you do not get the mandatory authorizations or if your project does not meet the standards, it can simply be canceled.
The impact of stakeholders can be decisive on the progress and success of a project. It is therefore essential that the project leader and his / her team identify exactly who the stakeholders are at the start of the project. Their roles and expectations for the project must then be defined. Do not neglect any of the stakeholders to ensure the success of your project.
Hello everyone! This is Richard Daniels, a full-time passionate researcher & blogger. He holds a Ph.D. degree in Economics. He loves to write about economics, e-commerce, and business-related topics for students to assist them in their studies. That's the sole purpose of Business Study Notes.
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