Megaprojects unfold through non-linear trajectories shaped by evolving stakeholder relationships. Although research recognises the temporal variability of stakeholder behaviours, analyses often rely on organisation-specific project life cycles, limiting conceptual comparability. This paper introduces a conceptual framework explaining how stakeholder relationship configurations change across the Project Management Focus Areas—Initiating, Planning, Executing, Monitoring & Controlling, and Closing. Drawing on project stakeholder management research and relational and network perspectives, the framework shows how stakeholder motivations, expectations and influence strategies evolve as megaprojects unfold. This temporally explicit and theoretically integrated perspective advances understanding of stakeholder dynamics and offers a foundation for improved stakeholder engagement strategies in megaprojects. Implications and future research avenues are discussed.