Many people make Qurbani on behalf of their parents, grandparents, Prophets and Saints, and not on their behalf. By doing so, they are neglecting their Waajib and thus become sinners through this action.
Every Muslim must first make Qurbani on their behalf so that their Waajib is fulfilled. Only after the Waajib is completed and if one is able to do so, can Qurbani be made on behalf of others. It is preferable to make Qurbani on behalf of Prophet Muhammad (PBUH) as it is virtuous and beneficial and has his blessings.
Our Prophet Muhammad (PBUH) made Qurbani on behalf of all the poor people of his Ummah. This shows the love that he possessed for his Ummah. Therefore, every Muslim who is capable of making Qurbani on behalf of others should make Qurbani on behalf of our Holy Prophet Muhammad (PBUH).