Answer to Question #122716 in Management for travis olivier

Question

Using your own words, explain what a project stakeholder is, and discuss three
examples of different types of stakeholders in a project of your choice.

Answer 1

those people or individuals with any interest in your project outcome are called project stakeholders .

They are typically the members of a project team, project  managers, executives, project sponsors, customers, and users.

1. Customers

Stake. Product or service quality value

Many would argue that businesses exist to serve their customers. Customers are actually stakeholders of a business, in that they are impacted by the quality of service/products and their value. For example, passengers traveling on an airplane literally have their lives in the company’s hands when flying with the airline.

 2. Employees

Stake. Employment income and safety

Employees have a direct stake in the company in that they earn an income to support themselves, along with other benefits (both monetary and non-monetary). Depending on the nature of the business, employees may also have a health and safety interest (for example, in the industries of transportation, mining, oil and gas, construction, etc.).

 3. Investors

Stake. Financial returns

Investors include both shareholders and debtholders. Shareholders invest capital in the business and expect to earn a certain rate of return on that invested capital. Investors are commonly concerned with the concept of shareholder value. Lumped in with this group are all other providers of capital, such as lenders  and potential acquirers. All shareholders are inherently stakeholders, but stakeholders are not inherently shareholders.