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As a project manager, it’s my job to work with the team to identify the stakeholders...

As a project manager, it’s my job to work with the team to identify the stakeholders that will be part of the project. These stakeholders include any people, groups, and organizations that have a positive or negative influence on the project. Stakeholder analysis determines how much influence each stakeholder has. Why does it matter that we know the level of influence a stakeholder might have on project operations? What is the value of this knowledge? Please discuss.

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Having knowledge on the stakeholders and their level of involvement with our project is very important for the successful completion of our project . We can be prepared to face either positive or negative impacts from the stakeholders if we know where and when to expect them. The level of influence each stakeholder would have will help us understand the impact they are going to have on our project and how must we face the consequences. Stakeholders sometimes would become the reason for the sudden halting of a project and it becoming a failure. Also they might be the reason for the success of the project. Hence we need to know what are the pros and cons so that we can plan and execute our project accordingly and hence the knowledge is much valuable .

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