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STAKEHOLDER MANAGEMENT AS AN
EFFECTIVE TOOL FOR PROJECT SUCCESS

0DUW\QD-.VLñĔHN

Abstract
This theoretical paper will examine subject literature and will try to analyze
how stakeholder management can increase the project success. The article
provides background to the topic of stakeholders from the first usage of the
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strategies. The article will provide the reader with insight to how one can
increase the success factor of the project with the usage of appropriate
stakeholder management tools. This article contributes to the body of literature
by detailing about how project stakeholder management influences projects
and their success. It is prepared as a response to an increasing role of projects,
the influence of different stakeholders on the execution of projects and their
own evaluation of project success factors. By analyzing the literature of the
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a better understanding of the role of stakeholders in conducting successful
projects. The literature reveals that effective stakeholder management is
a critical success factor of projects as they should satisfy the needs of different
groups of people in each part of the their lifecycle. The conducted analysis
is a foundation for the future research about effective project stakeholder
management and a base for additional research.
Keywords: stakeholders, stakeholder management, project, project
management, critical success factors.

1. Introduction
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7. Implement 3. Identify
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4. Identify
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5. Select PSM
Strategy for
Each Project
Stakeholder

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