MANAGEMENT

Detailed explanation-1: -Low power – High interest: keep these people adequately informed, and talk to them to ensure that no major issues are arising. These people can often be very helpful with the detail of your project. Low power – low interest: monitor these people, but do not spend time and energy with excessive communication.

Detailed explanation-2: -Key project stakeholders, however, are stakeholders who have the influence and authority to dictate whether a project is a success or not. These are the people and groups whose objectives must be satisfied, as they have the power to make or break the project.

Detailed explanation-3: -External stakeholders are those who do not directly work with a company but are affected somehow by the actions and outcomes of the business. Suppliers, creditors, and public groups are all considered external stakeholders.

Detailed explanation-4: -Failure to identify stakeholders, understand stakeholder needs, and meet their needs can result in spectacular project failures.