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PM stakeholders benefits

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(@efields30)
Posts: 27
Eminent Member
Topic starter
 

Project stakeholders are the components that has an interest in a projects outcome. This refers to an individual, group, or organization that contributes to the project and can have an affect from the conclusion of the product. A project stakeholder could be customers and users, sponsors, sellers, business partners, etc. If a project became abundantly successful with the completion of a project, which stakeholder would be greatest affected? How can the abundant revenue, press recognition, etc impact the specific stakeholder life?

 
Posted : 05/03/2022 9:26 am
(@archishak)
Posts: 72
Trusted Member
 

In my opinion, the most affected stakeholder group would be the investors. Factors such as revenue and press recognition would affect the investor's financial impact. For example, abundant revenue and profit can cause an increase in stock prices and financial returns for investors. The increased press recognition can enhance the investor's wealth and financial security as the project is becoming more recognized than before. These factors can also affect the investor's investment decisions. They might decide to invest more in the project after seeing its success. Lastly, press recognition, specifically, could potentially increase the investor's reputation, since the project is getting significant recognition which would directly correlate with the investor's recognition and reputation. 

 
Posted : 16/09/2023 2:16 pm
(@rm829)
Posts: 40
Trusted Member
 

Depending on the device that is produced, I would argue that the end user is most benefited from the success of a project. Especially in the medical device industry, where new innovations coming out have the ability to change lives for the better (or even for the worse), the success of these products directly impacts the people who are eventually using the device. Some of these projects can be absolutely game changing in regards to health and general well being. Although many different parties are to benefit from the success of a medical product, at the end of the day what we should be most concerned about is the user/customer. Is this person thriving because of the device we made? How has it improved their quality of life or how have the people around the customer benefited from this invention? Although revenue and recognition are more involved with the Teams/Investors involved in making the device, it can definitely be positive for the customer to know that the product that has possibly saved their life is being marketed to other people as well.  

 
Posted : 16/09/2023 3:08 pm
(@mme54)
Posts: 48
Trusted Member
 

As a student, I've come to understand that the stakeholder who would be most affected by the abundant success of a project is unquestionably the project sponsor. This person or organization provides the crucial financial and resource support that drives the project forward, and they ultimately bear the responsibility for its outcome. Abundant success can genuinely transform the life of the project sponsor in numerous ways. It can bolster their job security and open doors for career advancement. It often results in greater responsibilities and more challenging projects, earning them the respect of peers and superiors. Additionally, it enhances their personal brand and reputation, offering potential financial rewards like bonuses and stock options. Moreover, it allows them to make a substantial contribution to their organization and the broader community, which is truly fulfilling. It's also worth noting that other stakeholders, such as customers, employees, investors, and the community, can reap the benefits of a project's abundant success, creating a positive ripple effect across the board. This understanding underscores the profound impact that successful projects can have on all those involved, making them invaluable learning experiences for students like me.

 
Posted : 27/09/2023 12:28 am
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