Who is a sponsor in project management?
The Sponsor is a Stakeholder in the Project.Project sponsor - This is the individual or group that provides financial resources for the project. A sponsor has a major stake in the project and may perform an active role in the project team from time to time.Following are some of the functions of a sponsor:1. The sponsor champions the project when it's conceived. This includes gathering support for the project by performing actions such as acting as project spokesperson to the higher-level management and spelling out the benefits of the project.2. The sponsor leads the project through the selection process until the project is finally authorized, at which point the leadership role goes to the project manager.3. The sponsor plays an important role in developing the initial project scope and charter.4. The sponsor serves as an authority and a catalyst for issues beyond the control of project managers, such as authorizing some critical changes and other yes/no decisions.