Who is a regulator in the context of project management?

In the context of project management, a regulator is defined as a stakeholder from outside the organization who sets and enforces standards, laws, or regulations that the project must comply with. Regulators are typically governmental bodies or industry-specific organizations that create guidelines to ensure that projects meet legal, environmental, and safety standards. The involvement of a regulator is crucial, as it helps ensure that the project aligns with external requirements and industry best practices, thus minimizing risks related to compliance.

This role is distinctly separate from those who are directly involved in the day-to-day execution of the project, such as team members managing tasks, project sponsors overseeing overall outcomes, or project managers leading the initiatives. Each of these roles contributes to the project's success in different ways, but none hold the same external oversight function as regulators do. Understanding the role of regulators highlights the importance of compliance and adherence to external standards in the project management process.