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2 - ORGANIZATIONAL INFLUENCES AND PROJECT LIFE CYCLE

2.2 Project Stakeholders and Governance

A stakeholder is an individual, group, or organization who may affect, be affected by, or perceive itself to be
affected by a decision, activity, or outcome of a project. Stakeholders may be actively involved in the project or have
interests that may be positively or negatively affected by the performance or completion of the project. Different
stakeholders may have competing expectations that might create conflicts within the project. Stakeholders may
also exert influence over the project, its deliverables, and the project team in order to achieve a set of outcomes
that satisfy strategic business objectives or other needs. Project governance—the alignment of the project with
stakeholders’ needs or objectives—is critical to the successful management of stakeholder engagement and
the achievement of organizational objectives. Project governance enables organizations to consistently manage
projects and maximize the value of project outcomes and align the projects with business strategy. It provides a
framework in which the project manager and sponsors can make decisions that satisfy both stakeholder needs
and expectations and organizational strategic objectives or address circumstances where these may not be in
alignment.

2.2.1 Project Stakeholders

Stakeholders include all members of the project team as well as all interested entities that are internal or
external to the organization. The project team identifies internal and external, positive and negative, and performing
and advising stakeholders in order to determine the project requirements and the expectations of all parties
involved. The project manager should manage the influences of these various stakeholders in relation to the project
requirements to ensure a successful outcome. Figure 2-7 illustrates the relationship between the project, the
project team, and various stakeholders.

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