Not all stakeholders have equal amounts of power or interest in a project, typically the two groups to focus your energy on are whoever is paying for the project, and the personnel who will be using the system.
It's fairly obvious that a you should establish a close relationship with all stakeholders on a project but most importantly those with power and interest, managing their expectations and interests is one of the main keys to a successful delivery.
Not only should stakeholders be identified in the Project charter, but they should also review and sign off on it, to ensure that everyone is on the same page as to what the objectives and deliverables are.
the expectations & requirements of all stakeholders along with their roles & responsibilities must be captured.
Project Sponsors
The project sponsor is usually a management level executive who is championing the project, it is this champion who's identified the financial and non financial benefits of the project and guided it into the project portfolio. This champion usually has a vested interest in the project and thus will be the main source of support for the PM. Usually the Project sponsor is the main stakeholder, the budget is provided by them they are where to go when resources are needed and often times the deciding factor as to what is being built.
