What Is a Stakeholder? Definition, Types, and Examples

There’s more to a project than just the people doing the work. Clients, executives, vendors, and regulators may all have a say in what gets approved, changed, or delivered. And there are other groups who aren’t involved in approvals or decisions but are still directly impacted by the outcome. Taken all together, these are your “stakeholders.” And knowing who they are and what they expect makes it easier to address concerns early and keep your projects moving toward completion. This article covers how to classify and identify stakeholders, prioritize their competing interests, and communicate with different stakeholder groups throughout a project’s lifecycle. A stakeholder is any individual, group, or organization that can affect or be affected by a project, decision, or organization’s activities. Depending on the situation, stakeholders may contribute resources, approve work, influence priorities, experience the consequences of a decision, or simply purchase or use the final product. Or they may represent groups that are interested in the project and its outcome. Stakeholders can enter the picture at nearly every level of a project. Expectations are…