The entire process of software projects is strongly stakeholder-driven. It's their wishes, fears, dreams, their stakes (hence the name) that determine the course of the projects. A stakeholder can be a project team member, an employee of the user organization, or a senior manager. Virtually, it can be anyone, as long as they have something to do with the project.

The stakes are the crown jewels of the holders. They stick to them, they defend them, they are married to them. They also make up the words to formulate their expectations. The individuals will take all actions necessary to defend their stakes, or to get near the realization of them.

Stakes can be in two directions: fears or wishes. With the first there is a stake to lose, with the second there is something to gain. Either way, stakes are sacred things; anyone, including a project manager, should not try to mess with them.

Again, in order to do anything with the stakes of the holders, the project manager should be the greatest negotiator he possibly can be.