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12. What is Stakeholder Management?
A stakeholder is anyone who is impacted by the delivery of a project. For
example, customers, executives, managers, 3rd parties and suppliers, they sit
within and beyond the organisation. Project managers need to be aware of them
and their interests as failure to recognise influential stakeholders is likely
to damage an organisation. Project managers must balance the interests of the
stakeholders against the interests of a project adding to the complexity of the
role. For example, the more stakeholders the longer it may take to reach an
agreed decision.
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