What is the difference between output and outcome? Why does it matter in project management?
In the project management context, an output could refer to the result of a given process, like those discussed in ISO 21500 or PMBOK Guide. Well, if we consider the output of the ultimate process = the project, then the output is the final result or product.
On the other hands, an outcome focus on expected results, the realized benefits that could be derived post project completion.
As we deliver project management workshops, work with clients, or people in general, we find that in the majority of cases, people use the term quality to refer to grade. Well, although these terms are related, quality is different from grade.
Kids were having steak for lunch so they were steakeholders 🙂
Well, our topic today is not about steakholders but stakeholders and shareholders. No cup holders for today.
Honestly, this topic is easy and straight forward. We do not often see too much confusion between the two terms in our workshops. People understand the term shareholder and they know it is different from a stakeholder. The confusion is often about the stakeholders themselves – there is no clear understanding of who are the stakeholders.