Stakeholder Analysis
Your initiative’s success depends on involving stakeholders that will influence or impact the product. Understand stakeholder analysis what you can do, and how you can do it.
What is Stakeholder Analysis?
Establish and maintain effective working relationships with your stakeholders for your project’s success.
Conduct a stakeholder analysis cycle to ensure:
- the correct groups and individuals are involved,
- when and how stakeholders will contribute to or be involved, and
- how information should be shared.
Risks of not doing a stakeholder analysis include:
- missed requirements,
- lack of communication of project or progress, and
- all decision makers that may impact the project aren’t included.
Stakeholders are the people impacted by the change your initiative will produce. Stakeholders need to be: identified so you have the representation you need; analyzed to understand their influence and impact levels; and maintained so that they’re communicated with even when situations or people change. Stakeholder analysis is critical for your initiative’s success.
The Stakeholder Analysis Cycle Includes:
How it Can be Applied
Stakeholder Analysis Case Study: Government
Stakeholders are the people impacted by the change your initiative is creating, and analysis is defining their attributes, how to communicate with them and managing the impact. You can find everything you need to know about Stakeholder Analysis in the IIBA BABOK® Guide.
