The topics of project and stakeholder management have been chosen because of their growing importance for modern businesses. Projects are present in almost every area of human activity. Projects - regardless of their scope, size or domain - are an attractive formula for achieving a specific task/goal._x000D_ The topic of this monograph is embedded in the spectrum of stakeholder management in the initiation/conceptual phase of a project - i.e. at the vision stage, even before project objectives are defined. Although there are many studies on project management and the impact of stakeholders on the implementation of generic projects, there is a lack of studies on the identification of stakeholders in the initiation/conceptual phase of a project, which is crucial for the definition of project objectives. The monograph fills this gap in theory by contributing to the knowledge of project management._x000D_ The main objective of the monograph was to determine whether the role and importance of stakeholders in the initiation-conception phase of a project is taken into account. Through the research, the research hypotheses were verified and the impact of stakeholder consideration on the quality of outcomes in line with project objectives was demonstrated. It was also shown that companies that included a greater number of internal and external stakeholder groups in the project initiation-concept phase were significantly more likely to achieve results in line with project objectives (+/-10% variation).