In line, a stakeholder is usually an investor in your company whose actions influence the result of your business decisions. Stakeholders don’t have to be equity shareholders. They can also be your employees, who receive a stake in your company’s success and incentive for your products to follow. They can be business partners, who rely on your success to keep the supply chain moving. Every commercial enterprise needs a different approach to stakeholders. The roles of stakeholders differ between businesses, depending on the patterns and duties laid out at the foundation of your companionship or as your business evolved over the long time.
A project is running behind schedule and its stakeholders are not happy with the project scope and demands a change. As a Project Manager what steps will you take to win back the trust of stakeholders with the limited resources available to see the project deadline?