A project is always made up of several or different stakeholder for its operation. It is important to note that it is always a misconception to think that stakeholders are only made up of external people such as sponsors. Even a company’s employees part of the stakeholders’ team. In a typical project environment, stakeholders in a company are made up of the following groups of people or persons.
The first key stakeholder in a company’s project our customers. Customers or clients are the user of a service or product and can either be internal or external of the particular company. They are very critical stakeholders in any company’s project. It is because even the particular project exists for the purpose of satisfying the various needs of different customers or clients. Before the commencement of any project, customers are always involved in the process (“What is a Stakeholder in Project Management?”, 2019) A preliminary study is always carried out to find the market niche which exists in a particular place. The consumers are often asked to state what lacks in their vicinity so that to enable the particular company to come up with a viable project in the particular locality.
The second stakeholder in a project is the company’s employees or project team members. Employees or workers are a very vital stakeholder of a project because they are involved directly in the implementation of the particular project. Their role is to turn an idea into something real, which can later be used by the end user or the clients (“What is a Stakeholder in Project Management?”, 2019). For instance, in the case of a project like the proverbial Water Cube, the engineers of the Arup Engineering Company as well as the architects from PTW Architects firm were employee stakeholders. These employees together with other workers or employees from different companies with different profession teamed up and made the idea of the Water Cube to be a reality.
The third type of stakeholder taking part in a project is a project manager. This is the individual of the person in charge of the different project teams or employees. His or her role is to make sure that everything runs as it had been planned to. He or she makes sure that the project is executed within the time frame set as well as the budget it had been budgeted for. Additionally, it is the responsibility of a project manager to make sure that the end product of the project is something effective and efficient as well as something of greater quality. For instance, in the case of the Water Cube project, it was the duty or responsibility of the project manager to make it effective for the different teams of employees from firms such as Arup Engineering Company as well as PTW architects among others to team up and work together for a common good of course (“What is a Stakeholder in Project Management?”, 2019). It is also the good cooperation of the different teams under the leadership of a project manager that made it easy for the entire project to not only be a success but also to be something unique which has never been witnessed before.
The fourth type of stakeholders in a project are the sponsors. These are the individuals in a project who fund the process. They invest in a project with their personal capital or money with the aim of gaining profit later when the project succeeds. Sponsors in a project can either be active or passive. Active sponsors are the ones who take active responsibilities in the particular project from its commencement up to the time of its completion (“What is a Stakeholder in Project Management?”, 2019). On the other hand, passive sponsors are the one who takes little duties in the whole process of project management. Once they have invested their money, they then mute. Project sponsors are very important in any project because they help financially in the operation of the particular project at hand.
Describe the organizational position, project roles, expectations, and communications requirements of each stakeholder.
Beginning with customers, they form a major constituent of stakeholders of a particular Describe the organizational position, project roles, expectations, and communications requirements of each stakeholder. It is because a project exists mainly or majorly for the purpose of satisfying their various needs or wants. The role they play in a project is to purchase or by the end or the final product. They expect the final product of the particular projects to be something effective and efficient as well as something of greater quality (Usmani, 2019). Clear communication to them concerning the use of the various products or services they purchase should be well defined. They are supposed to be communicated on how to use various products as well as their expiry date.
The second stakeholders in a project are the team members. These are the individuals who now turn an idea to be something real which can be used by the final consumer or end user. Their main role is to implement an idea to be a real product for the purpose of usage by the final consumer. These individuals have the expectations of creating something efficient and effective. Moreover, their expectations are to operate within the time frame set for the project as well as the budget set aside for that particular project (Usmani, 2019). Moreover, it is their expectations that clear communication exists between and other team members who take part in the same project. A good example is for the case of the proverbial Water Cube. The architects from PTW architects expected the project manager to clearly devise a vivid way of communication between them and the engineers from the Arup Engineering Company so that they can be able to come up with something f greater quality.
The third kind of stakeholder is project managers. These are the personalities who are responsible for managing the whole project. Their role or duty is to make sure that everything concerning the particular projects they are managing goes on well as planned. They also manage the team members to work collaboratively as well as ensuring that the best is achieved from them (Usmani, 2019). These individuals expect the various team members to communicate to them whatever new ideas they might be having as well as any hindrances they face in the process so that effective measures can be taken.
The fourth kind of stakeholders are the project sponsors. These are the individuals who sponsor projects mainly in terms of finance. For any project to run, it always needs funds. That is the role of the sponsors, they invest their money in projects. However, there exist two manners of project sponsors. There are the active ones, who take an active part in projects. They not only invest money, but they also invest their time as well as management skills (Usmani, 2019). The other group is passive sponsors. These are the sponsors who mute after investing their money in a project. Sponsor’s expectations of a project are that the best come out of a project. A clear communication concerning how the project fairs on should be communicated to them in a timely manner.
Prepare a stakeholder register.
The following is an example of a stakeholder register;
Role in Project
Type of Stakeholder
Type of Communication
Customer project management
Effective and efficient
Quality end product
Civil and Building
Internal project management
Effective and efficient
Quality end product
Chairman of the steering committee
Effective and efficient
Quality end product
What is a Stakeholder in Project Management? (2019). Retrieved from https://www.wrike.com/project-management-guide/faq/what-is-a-stakeholder-in-project-management/
Usmani, F. (2019). The Roles Of Different Stakeholders In Corporate Governance Finance Essay. Retrieved from https://www.uniassignment.com/essay-samples/finance/the-roles-of-different-stakeholders-in-corporate-governance-finance-essay.php
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