Define the term "stakeholder" in the context of project management.

In the context of project management, a stakeholder refers to anyone who has an interest or investment in the project's outcomes. This broad definition encompasses various individuals and groups, including team members, sponsors, customers, end-users, suppliers, and even those who may be impacted by the project in some way. Stakeholders can influence project decisions and contribute to its success or failure; thus, their needs and expectations are critical for project planning and execution.

Understanding the role of stakeholders is essential for managing relationships, ensuring effective communication, and fostering collaboration throughout the project lifecycle. By recognizing the diverse perspectives and interests of stakeholders, project managers can develop strategies to engage them effectively, mitigate risks, and align project objectives with stakeholder expectations. This holistic approach ultimately leads to better project outcomes and can help in achieving buy-in from all parties involved.