Berkshire Stories

Word

Stakeholder

Defintion

Any individual or organization that has an interest in the project. Stakeholders can be internal (i.e., within the project organization - such as a senior executive), external (i.e., outside the organization, such as a client), and third-party (such as a journalist or vendor). Managing stakeholders is crucial for running successful projects since stakeholders are necessary for signing off on deliverables, securing funding, and championing the project's cause.

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