Which of the following best describes the term 'external stakeholders' in a business case?

The term 'external stakeholders' refers to individuals or groups who are not directly involved in the project or its management but are still affected by its outcomes. This includes individuals from outside the organization, such as community members, customers, suppliers, or partners, who might experience the results of the project, such as changes in products or services offered, alterations in service delivery, or shifts in business operations. Their interests and needs must be considered to ensure the project aligns with broader societal goals or market demands.

While government agencies and regulatory bodies (as mentioned in one option) may influence or govern compliance aspects, they are just one subset of external stakeholders, and the term encompasses a wider audience. Internal team members executing project tasks clearly do not fit the definition, as they are directly engaged in the project's execution and are therefore internal stakeholders. Ultimately, the identifying characteristic of external stakeholders is their impact from the project's output without being involved in its execution or decision-making processes.