Who are the Project Stakeholders in a Project?
Project stakeholders are individuals or groups who hold an interest in a project’s outcome or are impacted by its execution.
This encompasses anyone who can benefit from the project’s success, be negatively affected by its failure, or perceive themselves to be involved.
Project stakeholders can be internal, like project managers and team members, or external, like clients and community members. Effective project management involves identifying and managing stakeholder interests, concerns, and influence to ensure smooth project execution and increase the chances of success.
Let’s explore the various types of project stakeholders and understand their interests and influence on the project outcomes.
Key Project Stakeholders in Every Project
Project manager
Project managers are responsible for managing the project from start to finish. They are responsible for setting goals and objectives, assigning tasks, directing resources, and monitoring progress. They must be able to work with a variety of stakeholders, including the client, team members, and other project managers.
One of the key responsibilities of a project manager is planning. They carefully chart out the project’s goals, objectives, and strategies. They also identify the required resources, set a realistic timeline, and allocate the budget effectively. This meticulous planning helps the team understand what needs to be done and how it should be done.
Execution is another vital aspect of a project manager’s role. They oversee the implementation of the project plan, making sure that tasks are completed on time and according to established standards. They also monitor the progress, address any issues or roadblocks that may arise, and keep everyone motivated and focused on the end goal.
Lastly, project managers also need to keep a close eye on the project’s scope. They ensure that the project doesn’t expand beyond its initial boundaries, preventing any unnecessary delays or additional expenses. They communicate with stakeholders and make decisions that keep the project aligned with its defined scope.
Customers
The person or organisation that will use the project’s product. There may be multiple layers of customers. For example, the customers of a new pharmaceutical product can include the doctors who prescribe it, the patients who take it, and the insurers who pay for it. In some application areas, customer and user are synonymous, while in others, customer refers to the entity acquiring the project’s product, and users will directly utilize the project’s product.
Project management team
A project management team is a group of people who work together to complete a project. The team typically includes a project manager, a project coordinator, and various other roles depending on the size and scope of the project.
The project manager is responsible for leading the project and ensuring that it is completed on time, within budget, and to the required standards. The project coordinator assists the project manager in planning and executing the project. Other team members may include developers, testers, designers, and business analysts.
The project management team works closely with the client to ensure that the project meets their needs and expectations. They also liaise with other teams involved in the project, such as the marketing team, to ensure that everyone is working towards the same goal.
An effective project management team is essential for the successful completion of any project. By working together and using their skills and expertise, the team can overcome any challenges that arise and deliver a successful project.
Sponsor
In the context of project management, a sponsor is a significant stakeholder who plays a pivotal role in the success of a project. As a project stakeholder, the sponsor provides financial resources and overall guidance to ensure that the project aligns with the organisation’s objectives. They are responsible for initiating and approving the project, determining its goals and objectives, and securing the necessary resources for its execution.
The sponsor acts as a link between the project team and the organisation’s senior management, ensuring effective communication and support throughout the project’s lifecycle. Their involvement is crucial in providing direction and removing any obstacles or barriers that may hinder the project’s progress. Thus, the sponsor’s active engagement and commitment are vital for the project’s ultimate success.
Influencers
People or groups that are not directly related to the acquisition or use of the project’s product, but due to an individual’s position in the customer organisation or performing organisation, can influence, positively or negatively, the course of the project.
Conclusion
Project stakeholders are individuals or groups who are invested in a project’s outcome or are impacted by its execution. They can be anyone, from the project team and managers to clients, customers, and even the community. Understanding these stakeholders, their interests, and their potential influence is essential for successful project management. By effectively communicating and managing expectations throughout the project lifecycle, stakeholders can be valuable assets contributing to a project’s success.