10 factors 3: stakeholders

3.    Stakeholders. Involve your stakeholders throughout the project. Get them involved in the analysis and planning, as well as execution. Gain their approval when needed and keep them informed when needed. The more you involve them, the greater their level of buy-in and the better you will manage their expectations.

'Stakeholders' are a various bunch. They range from the people with an actual stake in the project that they paid real money for, through those with a possible financial interest, to those who have no financial interest, but could be supporters or irritants.

For any interest group (and some interest groups will pretend that they are 'stakeholders' and should be given the attention that a proper stakeholder receives), as well as stakeholders identify their interest, their objectives, the strength of their interest and project risks that this might produce.

Then devise the separate management, communication and obstruction strategies for them...that's right 'obstruction' because some 'interest' groups are not interested in the project, not really. They are interested in the project not happening. For the project investor's interest, and with them kept fully informed, you might just have to obstruct them.