1. Project Management :
Project management, as name suggest, is simply management that focuses on management of project as well as help team members to reach its goal and effectively manage project related activities.
2. Stakeholder Management :
Stakeholder Management, as name suggests, is simply management that focuses, give strength and vitality to project relationships simply to increase performance.
Difference between Project Management and Stakeholder Management :
|Project Management||Stakeholder Management|
|It mainly focuses on management and successful development of project.||It mainly focuses on management and maintaining good relationship with most effective individual.|
|It is a temporary process i.e. one time process.||It is a permanent management process i.e. an ongoing process.|
|Project manager have more responsibilities than stakeholder manager.||Stakeholder manager have less responsibilities than project manager.|
|Factors affecting project management includes project manager, unavailability of intelligent people, narrow planning, etc.||Factors affecting stakeholder management includes hiring project manager, ineffective communication between project and stakeholder, time and quality, etc.|
|Process of this management includes initiation, planning, executing, monitoring, controlling, and at last closing project.||Process of this management includes managing needs, expectations and requirements of stakeholders.|
|Its benefits include increase productivity, saves time and cost, increase customer satisfaction, improve processing, etc.||Its benefits include improve performance, better understanding, identify issues, saves cost and time, effectively manage risk, etc.|
|Its main objective is to produce final project on time and in effective manner.||Its main objectives is to maintain, create better and positive relationship by managing individual needs and expectations.|
|Type of project management includes Scrum project management, PRINCE2 project management, Lean project management, etc.||Types of Stakeholder Management include marketing stakeholder management, sales stakeholder management, executive stakeholder management, etc.|
|Project management is more difficult than stakeholder management.||Stakeholder Management is less difficult than project management.|
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