Project stakeholder management is an important activity that involves the following: Identification of stakeholders internal and external to the organization Analyzing stakeholders' expectations and influences Development of appropriate strategies to work with the stakeholders Executing the process Project stakeholders tend to be high risk to projects. Therefore, frequent communication is required with stakeholders. RACI is an acronym derived from the four key responsibilities most typically used, as follows: Responsible Accountable Consulted Informed It is used for clarifying and defining roles and responsibilities in cross-functional or departmental projects and processes