A stakeholder is anyone who has an interest in the outcome of a project or who can be affected by the project. Stakeholders can be internal or external to an organization. They can be individuals, groups, or organizations.
Projects usually have multiple stakeholders with different interests. For example, a construction project will have stakeholders such as the owner, the contractor, the architect, and the workers. Each stakeholder has a different interest in the project. The owner wants the project to be completed on time and within budget. The contractor wants to make a profit. The workers want to be paid for their work.
The term “stakeholder” is often used in business contexts, but it can also apply to other types of projects, such as community initiatives. In any context, it is important to identify all of the stakeholders in a project and to understand their interests. This information can help you manage expectations and avoid conflict.