Engaging the stakeholders is useful and beneficial during the entire project lifecycle. This is the reason why project managers utilize the Plan Stakeholder Management. This process is used to develop the right management strategies to engage the stakeholders effectively all throughout the life cycle of the project. This process also involves analyzing the needs, interests and impact of stakeholders on the success of the project.
It is under the Project Stakeholder Management that encourages the continuous communication and commitment of the stakeholders to the project. The benefit of this particular project management process is that it gives clear and doable strategies and plans on how to interact with the stakeholders of the project so that they will provide continuous support.
The Plan Stakeholder Management also identifies how the project will impact the stakeholders. It also helps project managers develop means to engage them as well as manage their expectations to eventually achieve the objectives of the project. It is more than just improving the communication but it is about creating and maintaining a good relationship between the project team and the stakeholders.
This term is defined in the 5th edition of the PMBOK.