TABLE OF CONTENTS Projects do not exist in isolation. Even if there is a defined brief, budget, programme and scope of works the project is still subject to external influences. The project exists within a political environment, populated by all those who have a particular stake or interest in the outcome of the project. This political environment and the expectations of stakeholders represent significant risk to a project. It is unlikely that the requirements of all stakeholders will coincide and they will seek to influence the project in order to meet their own requirements. Pressure from stakeholders generates change and change increases the complexity of the management task, jeopardizing cost, and programme certainty. However if the views of project stakeholders are not addressed and if stakeholders are not involved in the development of the project then the project is unlikely to deliver optimum value for all involved. It is important that project managers strike the right balance between stakeholder involvement and isolation of the project from external influence in order to achieve delivery on cost and time but also to maximize benefit for the client and his stakeholders.
Stakeholders are those who have a stake or an interest in a project or strategy undertaken by a company or an organization, they will be affected in some way be the project and so have an interest in influencing it. They may benefit from the project and so will be supportive...
