Stakeholder management is the systematic identification, analysis, planning and implementation of actions designed to engage with stakeholders.

Stakeholders are individuals or groups with an interest in the project, programme or portfolio because they are involved in the work or affected by the outcomes.

Most projects, programmes and portfolios will have a variety of stakeholders with different, and sometimes competing, interests. These individuals and groups can have significant influence over the eventual success or failure of the work.

Stakeholder management is a set of techniques that harnesses the positive influences and minimises the effect of the negative influences.

It comprises four main steps:

·    identify stakeholders;

·    assess their interest and influence;

·    develop communication management plans;

·    engage and influence stakeholders.

Source: The Association for Project Management (APM). For further information go here.