Key Stakeholder

A key stakeholder is a person or group that has a significant interest or influence in the outcome of a project, program, or initiative. Key stakeholders are typically involved in the planning, execution, and evaluation of the project, and may provide resources, expertise, feedback, or support. Key stakeholders may also be affected by the project, either positively or negatively, and may have expectations or requirements that need to be met. Some examples of key stakeholders are:

  • Customers: The people who use or benefit from the product or service delivered by the project.
  • Sponsors: The people who provide funding, authorization, or direction for the project.
  • Team members: The people who work on the project tasks and activities.
  • Managers: The people who oversee or coordinate the project work and resources.
  • Suppliers: The people who provide materials, equipment, or services for the project.
  • Regulators: The people who enforce laws, rules, or standards that apply to the project.
  • Competitors: The people who offer similar or alternative products or services in the same market.

Identifying and engaging key stakeholders is crucial for the success of any project. By understanding their needs, expectations, and interests, the project manager can communicate effectively, manage risks, resolve issues, and deliver value to all parties involved.