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How to do Stakeholder Analysis

Once you identify all the stakeholders (and this could be quite a list, depending on the complexity of the project), you need to identify their driving needs and expectations. Some may only need to know about what’s going on with the project, whereas others will be decision makers or influence project direction or outcome even if they do not have decision-making power on the project. It’s important to understand these needs and expectations early in the project and how they might change over the course of the project. Some people may have different expectations in the planning phase than in the controlling phase of the project. If you do this identification and analysis upfront, you will not be as easily swayed or pulled in different directions as the project progresses. Defining stakeholders, depending on the sensitivity of the data gathered, may be a tool only you would use to help define your communication plan (described in a later exercise). You will also find that you need to update your analysis throughout the project as the stakeholders change or you get to know them better. Some expectations or needs to consider are:

How important is cost and profit to the stakeholder?

What kind of information will they require?

How important is the schedule to the stakeholder?

Is quality important to the stakeholder?

Will the project threaten or enhance his or her position or organization in any way?

Is the stakeholder a major player in scope change?

Does he or she care more for results or more for how people are affected?

What are the major issues or risks at stake for this stakeholder?

How much influence does the stakeholder have? Can he or she threaten the success of your project?

Is the stakeholder a performer, influencer, decision maker, technical or subject matter expert, or nonessential to the project but interested in it?

How often do they need information about your project?

When do they need to be included in the project or when are they most impacted during the project?