What are stakeholders?

Stakeholders are defined as anyone with an interest in the project, which encompasses a wide range of individuals and groups. This includes project team members, end users, clients, investors, and any other parties who may be affected by or have an influence on the project. The importance of recognizing all stakeholders lies in the fact that their needs, expectations, and contributions can significantly impact the success of the project. Engaging with various stakeholders helps ensure that diverse perspectives are considered, which can lead to better decision-making and increased satisfaction with the project's outcomes.

In contrast, limiting stakeholders to only project team members, end users, or individuals who provide funding would neglect other essential perspectives that could enrich the project and lead to more effective solutions. Engaging all stakeholders promotes collaboration and helps in addressing potential challenges early on in the project lifecycle.