Stakeholder Concerns and Management Principles in Project Management

Purpose and aim of the study: the aim of the paper is to develop principles that project managers should consider when managing the concerns of stakeholders. To achieve this aim, the following tasks have been set: to examine the concept of stakeholder concerns and determine the actions to be taken before implementing stakeholder concern management principles.Design/Methodology/Approach: the monographic and descriptive methods, the logical construction method, the graphical method. Main Findings: the paper examines the concept of stakeholder concerns and highlights the key management principles: responding to weak signals, a joint decision-making process, and information transparency. Based on the research findings, focusing on these solutions can significantly reduce stakeholder concerns. By decreasing the level of these concerns, managing the stakeholder becomes easier, leading to project success. Collaboration with stakeholders is essential for the successful implementation of any project. Originality: the paper proposes the circumstances in which the concept of stakeholder concerns should be used and develops previously unpublished principles for managing stakeholder concerns in project management. Implications: based on the research findings and applying the author`s proposed principles, stakeholder concerns can be significantly reduced, minimizing these concerns facilitates the management of stakeholders and increases the likelihood of project success. The author`s recommendations are relevant for practical project managers and researchers.