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Project stakeholders are persons or entities who have an interest in a specific project.According to the Project Management Institute (PMI), the term project stakeholder refers to "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, program, or portfolio. [1]:
All relevant stakeholders can be involved in this process. The research around the development problem can include studying previous experiences, individual and community knowledge and attitudes, existing policies and other relevant contextual information related to socio-economic conditions, culture, spirituality, gender, etc.
Berman, Wicks, Kotha and Jones distinguish between two primary models of stakeholder management in business, an "instrumental" approach, according to which business managers engage with their stakeholders in order to maximise long term financial outcomes, and a "normative" approach, which identifies a stakeholder commitment as a moral ...
All shareholders are stakeholders, but not all stakeholders are shareholders.
Stakeholder analysis in conflict resolution, business administration, environmental health sciences decision making, [1] industrial ecology, public administration, and project management is the process of assessing a system and potential changes to it as they relate to relevant and interested parties known as stakeholders.
Stakeholder engagement is the process by which an organization involves people who may be affected by the decisions it makes or can influence the implementation of its decisions. They may support or oppose the decisions, be influential in the organization or within the community in which it operates, hold relevant official positions or be ...
Projects can involve active stakeholder participation at every step of the evaluation process; they can control the evaluation process while keeping stakeholders informed and discussing when needed; or projects can train and prep stakeholders to take on development initiatives by learning throughout the evaluation process. [4]
The relational aspect appears as integration and separation (node), in dyads between e.g professionals and managers and between providers and beneficiaries, and within networks as actors with different attributes. [6] Hybrid organization can achieve a competitive advantage because it can easily adapt into rapidly changing business environment.