When we work on projects, it might be a bit confusing to identify between team members and a stakeholder. Those people who work on projects, whether within a single team or a cross-functional project, across different functions are all the team members.
Stakeholders, on the other hand, are individuals or they might be teams. They have a vested interest in the outcome. So they are less involved in the activity. They are more interested in the outcome. So they are likely going to be the recipients of the outcome of the project that you’re driving. Or they will likely be impacted by the project that you’re driving positively or in some cases negatively. So they’re not just merely participants on the project. They have to be engaged in the outcome.
So they could be your customers, they could be our partners, they could be our employees, vendors, different functions within your company, et cetera. The identification of those stakeholders is critical. And understanding the impact on your stakeholders, engaging them early, communicating with them early is so important for the success of your project.