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Analyzing stakeholder expectations and their impact on the project
• Developing appropriate management strategies for engaging stakeholders
• Implementing continuous communications with stakeholders to understand needs and
expectations
• Fostering stakeholder engagement in the project for decisions and activities
• Focusing on stakeholder satisfaction as a key project objective
SOME MORE EXPLANATIONS
Identify Stakeholders is the process of identifying all individuals or organizations that can be positively or negatively impacted by the project, and documenting their influence, impact, interest, and involvement on project success.
This is a key area in the project management process, as many projects fail due to a lack of complete stakeholder identification. Most projects will have a large number of stakeholders, and it is a project manager's job to identify stakeholders and understand the impact of the project on their specific business areas. In this respect, the project manager's job amounts to a relationship management function. The key output of this process is to create a stakeholder register which identifies in great detail, everything about the stakeholders on the project.
