Why are stakeholders considered important in the elicitation process?

Stakeholders are fundamentally important in the elicitation process because they provide the necessary insights and requirements that inform the development of solutions. Their unique perspectives, experiences, and knowledge contribute significantly to understanding the needs and expectations surrounding a project. By engaging stakeholders, business analysts can gather critical information about the functional and non-functional requirements that must be addressed to ensure the project's success.

Stakeholders often represent various interests within an organization or among external parties, and their input helps to identify potential risks, challenges, and opportunities that may not be readily apparent through other means, such as documentation or analysis of existing systems. Including stakeholders in the elicitation process ensures that the final solutions align with their needs and enhance the overall success of the project.

The other options, while related to project phases, do not capture the essence of why stakeholder engagement is crucial during elicitation. For example, creating project teams, approving budgets, and managing timelines, although important tasks, do not directly relate to the core function of gathering insights and requirements needed for effective solutions.