Project Management: Significance of Stakeholders and the Impact- Literature Review Assignment Help

Internal Code: 1HGFJ

Literature Review Assignment Help:

Task: The main aim of my research is to find information on stakeholders within project management. I have done this literature review research on stakeholdersto develop a deeper understanding of the significance of stakeholders and the impact they have on the overall success of a project, as well as the many different elements to stakeholders within project management. The major key findings I have found so far identify that stakeholders can be individuals, groups, or organisations who have an affect on, or can be affected by, and have an interest in the overall outcome or your project. Key stakeholders have an investment in the project and their input can have direct impact on the outcome There are different methods of identifying stakeholders and the literature so far has shown that there are both internal and external stakeholders to almost all projects, as well and key stakeholders and stakeholders. Stakeholders are those who are affected by the execution or outcome of your project, regardless of whether if succeeds or not. These stakeholders can include;

• Contractors,
• Suppliers
• Shareholders
• The government
• And the community or general public

Some examples of key stakeholders that the literature has identified are;

• Project managers,
• Project team members
• The project sponsor,
• The client or customer
• Executives
• And resource managers

These stakeholders hold the power and influence over a project and dictate whether or not the entire project is a success. Therefore, it is imperative that their objectives are met and that quality standards are developed and measured throughout the project according to their requirements. As the literature so far has shown that stakeholders do hold such an important role within project management, not identifying key stakeholders correctly and at an early stage within the project, can pose a significant risk to the overall outcome.