Examples of key stakeholder examples and their roles

Examples of key stakeholder examples and their roles

July 21, 2022 Off By Evelyn

There is no bubble in which a project can exist. No matter how large your project is, it will be successful and implemented by individuals or organizations. According to the Project Management Institute, stakeholders are “individuals or organizations that are actively involved in a project or whose interests could be negatively or positively affected by project execution or completion.”
You must know how to manage your relationships and stakeholders if you want to achieve your project goals. Let’s discuss how to understand your stakeholders and set yourself up to succeed.
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Types of stakeholders
Primary and secondary stakeholder
The level of investment made by stakeholder in the project’s outcomes and results will depend on their level of interest or importance.
Your project’s primary stakeholders are those who have the greatest impact on your project, whether it is positive or negative. These could include your customers, managers, suppliers and business partners.
Secondary stakeholders are people and groups that your project doesn’t directly impact. Secondary stakeholders are more difficult to identify than primary stakeholders. Secondary stakeholders are not considered by project teams when planning. They don’t usually have an impact on project implementation or operations unless they are actively involved and vocal about their views. Their impact can be huge when that happens.
Governments, trade unions and advocacy groups are examples of secondary stakeholders.
Stakeholders in direct and indirect ways
A person or organization may have the power to influence the decisions made by the project team. Direct stakeholders can influence the direction of the project by being involved in its activities. Direct stakeholders include your team, managers, product owners, as well as other individuals.
Indirect stakeholders are individuals or groups who care more about the project’s outcome than its implementation. These are your suppliers and customers. Although they are not directly involved in your activities, they do have something to lose.
Both internal and external stakeholders
Both internal and external stakeholders refer to those who are part of your organization and those outside it.
Your board of directors, your upper management and any other departments within your company that could influence your flow of resources (e.g. human resources, finance, etc.) are all internal stakeholders. ).
Your external stakeholders include your local community, government and potential clients.
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How to maintain good stakeholder relationships
Identify and understand your stakeholder
When preparing project requirements, technical requirements are usually the most important. It is important to understand that non-technical communication requirements could also have a significant impact on your project.
You will need permits, approvals and finances to complete your project. Failure to identify the stakeholders behind your project can lead to delays, bottlenecks, or even termination of the project. It is important to identify all parties and individuals involved in your project as soon as possible.
Align with Your Stakeholders
Your project’s success can be affected by the involvement of your key stakeholders. Each stakeholder may have a different definition of success.
After identifying key people and organizations, gather information about their priorities, their expectations, as well as how your project will impact them. Discuss your concerns and reservations. Communicate with them the risks and the rewards that you expect. Talk to them about what they can expect from production and what support they need.