Stakeholders are individuals or organizations who are involved in the project, or whose interests are positively or negatively affected by the result of the project. Stakeholders are essential as the project’s success or failure largely depends on the fulfillment of stakeholder’s needs or expectations. Due to this, the engagement of stakeholders intrinsically becomes an essential part of project management. The key to effective stakeholder engagement is “planning.” One has to systematically identify and prioritize stakeholders, along with establishing proper communication modes with them. So let’s look at the steps in the strategy to develop and optimize stakeholder engagement. 1. Stakeholder Identification The first step is to identify who all are being affected by the projects. It would be best if you considered all the individuals, interest groups, and right holders who would have an interest in the project. If you are running the project for a client, you may b...
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