If it is appropriate for management to define some stake holders as more important than other and whether all stake holders should be considered as equally important. Concept Introduction: The individuals or groups that are likely to affect or be affected by a proposed action of the organization are called as stake holders. The systematic approach that defines the primary stake holders like employees, customers, share holders, environment, government etc and identifying such key members is referred to as stake holder mapping. Management needs to look from different angles like their potential threat, their interest, the influencing factors etc so as to define the key stake holders.

Question

business value reinforces the need for constant alignment with strategic objectives and adapting to market changes, while accountability ensures that stakeholders are responsible for the deliverables. How have you observed these functions influencing budgeting practices in real projects, and what challenges have you encountered in upholding them throughout the project lifecycle?

Answer 1

Question

Chapter 4, Problem 9DQ

Summary Introduction

To determine:

If it is appropriate for management to define some stake holders as more important than other and whether all stake holders should be considered as equally important.

Concept Introduction:

The individuals or groups that are likely to affect or be affected by a proposed action of the organization are called as stake holders. The systematic approach that defines the primary stake holders like employees, customers, share holders, environment, government etc and identifying such key members is referred to as stake holder mapping.

Management needs to look from different angles like their potential threat, their interest, the influencing factors etc so as to define the key stake holders.

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