Projects don’t always have vendors. This is a good example of a test question that doesn’t seem fair. Vendors can be key stakeholders in the project, but you may not always have a vendor. You will always have a project manager, a customer or user of the project’s outcome, and a performing organization. By process of elimination, the only stakeholder you won’t always have is a vendor. Watch out for these types of questions on your PMP exam. 1 is not correct because the project manager is always a key stakeholder. 2 is not correct because the customer/user is always a key stakeholder. 3 is not correct because the performing organization is always a key stakeholder.