The Importance Of Stakeholder Identification In Project Management

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Introduction I. Overview The importance of proper stakeholder identification is occasionally overlooked due to complacency or unhealthy business practices in project management. Failing to properly identify stakeholders is a perfect formula for disaster. According to the Project Management Body of Knowledge (PMBOK) (2013), identifying stakeholders is the method of recognizing any person or group that can influence, be influenced or seemingly influenced by the process and consequence of a project. Their interest and impact on the project are then examined and documented. Customers, societies, and benefactors are all considered stakeholders and they are actively involved in project activity (PMBOK, 2013). Once all stakeholders are identified, managing their engagement is necessary to ensure continual support and interaction. Management of stakeholders keeps the …show more content…

Stated Importance Identifying stakeholders is important because proper identification gives the project manager the means to emphasize the customer’s individual interest. Utilizing inputs, tools & techniques, and outputs such as project charter, procurement documents, stakeholders analysis, and stakeholders registry are a few of the processes that is required in the “Identifying Stakeholders” knowledge area (PMBOK, 2013). The project charter is a document issued by the sponsor that authorizes the project manager to spend the budget and apply organizational resources to the project (PMBOK, 2013). The project charter contains key information such as milestones, assumptions, and constraints (see Appendix A). Although the project charter in Appendix A does not list the end users as a stakeholder, they are still considered customers but have no influence on the project budget or project completion time. A procurement document is used for petitioning offers from potential sellers (PMBOK, 2013). The document is used widely in a contractual nature in terms of obtaining information, bids, quotations, and

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