Experienced project managers understand the importance of stakeholder management. Stakeholders can influence many aspects of a project, including its budget, resources and overall progression. In order to manage stakeholders well, a fluid line of communication must be established. This requires that a project manager deliver regular reports to stakeholders and actively listen whenever stakeholders provide feedback. To properly communicate this with the stakeholder then they should be identified first. The term stakeholder includes anyone that is affected by the project, both within the organization and without. Typical stakeholders can include investors, regulatory bodies, vendors, project teams, senior managers, board members and more. Obviously, not all of those stakeholders will be impacted by the project to the same degree, so the next step is to identify how and to what extent each stakeholder is affected. Once the stakeholders have been identified, then analysis must ta