Home / BA / Stakeholder Analysis:

Stakeholder Analysis:

Any person, group or organization who is directly or indirectly effected or impacted by the proposed actions or activities.

The aim of the stakeholder analysis is to identify the stakeholders and assess how they are likely to be impacted by the proposed project. It also helps to develop cooperation between the stakeholders and the project team and ultimately assuring successful project completion.

The process of systematically gathering and analyzing information to determine whose interests should be taken into account when developing a program

While performing a stakeholder analysis we need to know

–          Who they are

–          What they think

–          How to engage them

–          What influence they have

–          How to inform

–          How to stay in touch

A thorough stakeholder analysis would help us understand and clarify their interests, needs and capabilities. It also helps to identify potential opportunities and threats. It helps to determine the extent to which certain groups should participate in planning, implementation and evaluation          .

Identify Stakeholders

The project is successful if your stakeholders are happy. If the stakeholders are not satisfied then the project will not be completed successfully. Therefore, identifying project stakeholders at the beginning of the project is very vital.

Thus, the very first step in stakeholder analysis is identifying who the stakeholders actually are.

This involves creating a list of everyone who is affected by the project they are working on as well

who can influence the project or company.

Some examples of common stakeholders include:

  • Shareholders
  • The government
  • Suppliers
  • Lenders
  • Coworkers
  • Customers
  • The community
  • Executives

The process of knowing who your stakeholders is not an easy job. This is because many people are involved.

In order to make our life easy we need to identify the knowledge of the stakeholder, personal experience. This we can do by a series of interviews so that we understand the interest of stakeholders.

 

Organize Your Stakeholders

When you have the rundown of partners, we have to organize them.

Guide the partners and group them by their control over your work and by their enthusiasm

for your work.

–          High control, intrigued individuals: these are the general population you should completely connect with and try the best endeavors to fulfill.

–          High control, less intrigued individuals: put enough work in with these individuals to keep them fulfilled, however less that they wind up noticeably exhausted with your message.

–          Low control, intrigued individuals: keep these individuals enough educated, and converse with them to guarantee that no significant issues are emerging. These individuals can regularly be exceptionally useful with the detail of your task.

–          Low control, less intrigued individuals: once more, screen these individuals, yet don’t exhaust them with unnecessary correspondence.

Engaging stakeholders throughout the project life cycle is a key to (but not a guarantee of) project’s success.

Managing stakeholders expectations & ensuring their active involvement is very much important to project as:

  • It is indispensable for continuation of the project & its successful completion
  • It gives opportunity to individuals or groups to express their ideas/issues/concerns over the project
  • It gives a sense of accountability and enhances responsibility
  • It enables effective risk identification & response planning
  • It opens up excellent learning opportunity for both the project team and stakeholders

 

 

About H.Bala Krishna

Check Also

Agile Vs Waterfall Methodologies

There are two popular methods of software development. Waterfall Methodologies Agile Methodologies Though  both the …

Leave a Reply

Watch Dragon ball super