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Project stakeholders are individuals and organizations whose interests are affected (positively or negatively) by the project execution and completion. In other words, a project stakeholder has something to gain from the project or lose to the project. Accordingly, the stakeholders fall into two categories-positive stakeholders, who will normally benefit from the success of the project, and negative stakeholders, who see some form of disadvantage coming from the project. The implications obviously are that the positive stakeholders would like to see the project succeed and the negative stakeholder's would be happy if the project was delayed or even better cancelled.
For ex: let us say, your state government wants to build a Government Hospital in your city. It is a good thing right? You, the citizens of your city and the chief minister are all positive stakeholders of this project. Lets say there is a private Hospital in the city that is having a thriving business currently. They would be negative stakeholders because, if the government hospital comes up, their business will be affected and hence they would be happy if the government scraps its project.
Negative stakeholders are often overlooked by the project manager and the project team, which increases the project risk. Ignoring positive or negative project stakeholders will have a damaging impact on the project. Therefore, it's important that you, as the project manager, start identifying the project stakeholders early on in the project. The different project stakeholders can have different and conflicting expectations, which you need to analyze and manage.
What else can I help you with?
What is the key output of the Stakeholder Requirements Definition Process is?
The key output of the Stakeholder Requirements Definition Process is a comprehensive Stakeholder Requirements Document. This document captures the needs, expectations, and constraints of stakeholders, ensuring that their perspectives are integrated into the project scope. It serves as a foundation for further project planning and development, facilitating alignment between stakeholders and project objectives. Additionally, it aids in managing stakeholder engagement and expectations throughout the project lifecycle.
Who are the stakeholder's networks and coalitions to influences stakeholders?
Some of the stakeholder networks and coalitions that influence stakeholders are potential financiers who are willing to buy the stake for a higher price. Venture capitalists also have great influence.
What is arbitrary system?
A system that a middlist is judging is called Arbitary system.
What are the old system of measurement?
old system of measurement English system of measurement
Who are the participants of system development?
the participants of System Development are;System AnalystProgrammerTechnical Specialist
Components of the tourism stakeholder system?
components of the tourism stakeholder system
Who is stakeholder in student record system?
A stakeholder in a student record system includes anyone with an interest or involvement in the management and use of student data. This typically includes students, parents, educators, administrators, and IT personnel. Additionally, government agencies and accreditation bodies may also be stakeholders due to regulatory or compliance requirements. Each stakeholder plays a role in ensuring the system meets educational, administrative, and legal needs.
Difference between customer and stakeholder?
stakeholder customer
What is project stakeholder management?
A stakeholder - is a person who has invested money in something.
Stakeholder of mutual fund?
A stakeholder of a mutual fund is someone who has interest in it.
What is connected stakeholder?
Connected Stakeholder are directly connected with business organisations.
What are stakeholder claims?
A stakeholder is any person who affects or is affected by the activities of an organisation. A claim is the outcome that the stakeholder seeks or the outcome which would benefit the stakeholder most or harm it least
What is a non-market stakeholder?
A stakeholder that does not engage in direct economic exchange with a company, but is affected by or can affect its actions. (Also called a secondary stakeholder.) An example are NGO's.
What is a non market stakeholder?
A stakeholder that does not engage in direct economic exchange with a company, but is affected by or can affect its actions. (Also called a secondary stakeholder.) An example are NGO's.
Who are the stakeholder of the project management in Nepal?
Stakeholder are people who have an interest in company or organization's affairs.
What are the Examples of a stakeholder?
A stakeholder is an individual or group of people who have an interest in a business. Some stakeholders are stockholders, employees, customers, the community or society in which the company operates, etc. Sometimes, even the government can be a stakeholder. Anyone that has a "stake" in the company is a stakeholder basically.
What is princlples for stakeholder cooperation?
Transparency, accountability, fairness, and responsibility are all principles for stakeholder cooperation.
