Project Stakeholder Management - Overview

This knowledge area includes processes required to:

•  identify the people, groups, or organizations that could impact or be impacted by the project
•  to analyze stakeholder expectations and their impact on the project
•  to develop appropriate management strategies for effectively engaging stakeholders in project decisions and execution 
• focuses on continuous communication with stakeholders to understand their needs and expectations, issues, conflict and foster engagement 

It covers four processes that include:

1. Identify Stakeholders - identifying the people, groups, or organizations that could impact or be impacted by decisions, activity, or outcome of the project as well as analyzing and documenting relevant information regarding their interests, involvement, interdependencies, influence, and potential impact on project success. 
2. Plan Stakeholder Management - develops appropriate management strategies to effectively engage stakeholders throughout the project life cycle, based on the analysis of their needs, interests, and potential impact on project success
3. Manage Stakeholder Engagement - Communicate and work with stakeholders to meet their needs/expectations, address issues as the occur, and foster appropriate stakeholder engagement in project activities throughout the project life cycle. 
4. Control Stakeholder Engagement - monitors overall project stakeholder relationships and adjusting strategies and plans for engaging stakeholders. 

Source: PMBOK 5th ed.