Stakeholders are best defined as individuals who actively participate in a construction project and/or are affected as a result of the finished product. A construction project may have multiple stakeholders who fall under a broad spectrum of functions and tasks. Identifying the key stakeholders and assessing their needs are important aspects of any major construction job.
The primary stakeholders of a commercial construction project are the owner, employees and customers of the business. Listening to their needs and designing the project around them is critical. Roles that are innately tied to the jobsite, such as the Construction Manager and Subcontractors, are secondary stakeholders. Financial institutions that fund projects and government agencies that regulate building procedures also have a stake in a project’s success.
Among these parties, the size and scope of the job does not deem who is more/less important. All stakeholders should fulfill their function(s) in a timely manner, track deadlines without major oversight, and communicate effectively with other stakeholders or members of a team.
At the onset of a construction process, take the time to identify the key stakeholders and ensure that they are aware of their responsibilities. Doing so will save time and also help ensure that the finished product is of a high quality