Construction projects attract the interest of the population, authorities, stakeholders, who have a role and responsibilities in the different phases of investment project management. The objective was to identify the relationship between the factors influencing stakeholders in the planning and formalization of water supply and sewerage projects in terms of scope, economics and timeframe. The research was conducted in the quantitative paradigm, with 29 professionals with experience in sanitation works making up the population, who through expert judgement answered a questionnaire to assess stakeholder participation, and another questionnaire was used to assess the identification and formalization of projects. Reliability was obtained using Cronbach's alpha (0.871). Normality was assessed using the Shapiro-Wilk test and the correlation measure with Pearson's coefficient was (0.371). The deductions showed that the project stakeholders had a weak influence on the planning and formalization of works in the Puno region in the period 2018-2020. The results help project managers to identify the most influential stakeholders and to set guidelines for future stakeholder management in similar environments.