Stakeholder analysis for business project management means figuring who's involved and why.
Stakeholder analysis starts by gathering this information:
- Contact information
- Communication preferences
- Role in the organization
- Role on the project
- Key concerns (e.g. goals, needs, issues, interests, opinions)
- Key offerings (e.g. skills, resources, controls, connections)
- Relevant suggestions (e.g. for people, processes, tools, scopes)
- Relevant relationships (e.g. with stakeholders, projects, organizaitons)
- Relevant analysis (e.g. SBS, OKR, KPI, CSF, RAM, VSM, SMART, SWOT, PEST, RAID )
Estimate any of these concepts on a scale of 1ow, medium, high:
- Willingness to engage
- Necessity of involvement
A power-interest grid is a quick easy way to visualize stakeholder salience a.k.a. priority.
- y-axis is power & influence
- x-axis is interest & impact
You can position each stakeholder on the grid.
How to identify stakeholders
Useful questions to identify stakeholders:
- Who has skills?
- Who has resources?
- Who has controls, such as approvals, governance, etc.?
- Who has connections, such as relationships, partners, etc.?
- Who has influence?
- Who gains or loses because of this project?
Stakeholder example roles
Stakeholders example roles to consider:
- Employees e.g. Workers, Managers, Directors
- Purchasers e.g. Customers, Resellers, Retailers
- Partners e.g. Suppliers, Distributors, Contractors
- Advisors e.g. Counselors, Collaborators, Investors
- Regulators e.g. Auditors, Legislators, Officers
- Authors e.g. Reporters, Reviewers, Researchers
- Others e.g. Competitors, Shareholders, Activists