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    What Is Stakeholder Analysis?

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    Arnel Billy Lim
    Stakeholder analysis is a process that identifies individuals or groups that may be affected by or have an influence over a project. It involves systematically mapping stakeholders based on their level of interest in and influence over the project. This assists with developing effective engagement strategies. Key steps in stakeholder analysis include brainstorming stakeholders, positioning them on a matrix based on interest and influence, rating their support levels, and developing an action plan for engagement. The resulting stakeholder map helps prioritize resources for managing relationships with different stakeholder groups.

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    What Is Stakeholder Analysis?

    Uploaded by

    Arnel Billy Lim
    41 views5 pages
    Stakeholder analysis is a process that identifies individuals or groups that may be affected by or have an influence over a project. It involves systematically mapping stakeholders based on their level of interest in and influence over the project. This assists with developing effective engagement strategies. Key steps in stakeholder analysis include brainstorming stakeholders, positioning them on a matrix based on interest and influence, rating their support levels, and developing an action plan for engagement. The resulting stakeholder map helps prioritize resources for managing relationships with different stakeholder groups.

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    Stakeholder analysis is a process that identifies individuals or groups that may be affected by or have an influence over a project. It involves systematically mapping stakeholders based on their level of interest in and influence over the project. This assists with developing effective engagement strategies. Key steps in stakeholder analysis include brainstorming stakeholders, positioning them on a matrix based on interest and influence, rating their support levels, and developing an action plan for engagement. The resulting stakeholder map helps prioritize resources for managing relationships with different stakeholder groups.

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    © All Rights Reserved
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    Download as docx, pdf, or txt
    41 views5 pages

    What Is Stakeholder Analysis?

    Uploaded by

    Arnel Billy Lim
    Stakeholder analysis is a process that identifies individuals or groups that may be affected by or have an influence over a project. It involves systematically mapping stakeholders based on their level of interest in and influence over the project. This assists with developing effective engagement strategies. Key steps in stakeholder analysis include brainstorming stakeholders, positioning them on a matrix based on interest and influence, rating their support levels, and developing an action plan for engagement. The resulting stakeholder map helps prioritize resources for managing relationships with different stakeholder groups.

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    Stakeholder Analysis

    What is stakeholder analysis?


    Stakeholder analysis is the systematic identification, evaluation, and prioritization of everyone
    who can influence, or has an interest in, a project, program or business. It assists with the
    development of an effective stakeholder communication and engagement strategy and is a
    fundamental element of an organization’s stakeholder management plan.

    A simple but effective stakeholder analysis technique is stakeholder mapping. Interested parties
    (stakeholders) are plotted against two variables, most commonly Interest and Influence. The resulting
    stakeholder matrix clearly identifies key players who can have the greatest impact on the success of an
    initiative. This map assists with prioritization of resources and provides a foundation for a
    communications and engagement plan.
    Stakeholder analysis can be done once at the beginning of a project or regularly throughout
    implementation to track changes in engagement.

    Why perform stakeholder analysis?


    Understanding who your stakeholders are and the impact they may have on your business or project is
    crucial to success. Not engaging key players in the right way at an early stage can have disastrous
    results for a project.. The development of a stakeholder map:

     Creates a shared understanding of the key people who can impact on your success.
     Provides a foundation for your communications and engagement strategy.
     Identifies potential risks from negative stakeholders or those who feel they are not being heard.
     Prioritizes stakeholders so the appropriate amount of resources can be assigned and the right
    engagement strategy is applied.
    Who can use stakeholder analysis?
    Stakeholder management is critical to the success of every organization, program, and project.
    Stakeholder analysis is useful for:

     All industries
     All levels of an organization
     All departments
     Existing businesses
     New businesses
     Projects
     Business processes
    Use stakeholder mapping:

     In regular organizational reviews


     When assessing changing business conditions
     When developing new initiatives
     As part of a broad environmental scan for initial planning
    The process is especially important in the early stages of development and for projects that:

     Impact on the community


     Span across multiple teams or organizations
     Cross cultural boundaries
     Have external investors

    Facilitation tips
     Carefully select participants to provide expert knowledge but also a fresh perspective.
     Use technology to involve critical people in different locations rather than miss their contribution.
     Be specific rather than broad when defining stakeholders.
     Provide adequate time in the session to position and rate stakeholders.
     Communicate outcomes and regularly update throughout the project.

    Stakeholder analysis template


    A stakeholder analysis template, (aka stakeholder map) provides a visual representation of the
    importance of your stakeholders. Common dimensions used for a stakeholder map are:
     Level of Interest – How much a stakeholder cares about the outcomes. Are they beneficiaries or
    will there be negative effects?
     Level of Influence – The degree in which a stakeholder can make or break the project. For
    example through funding, legislation, protests, etc.
    Other dimensions may be more relevant for some organizations. For example, level of investment, level
    of positive/negative commitment, level of support (advocate or adversary), need for outcomes etc.

    Satisfy Manage
    High Influence, Low Interest High Influence, High Interest
    These stakeholders are highly influential but they don’t have a lot These are your key stakeholders. They have a lot of influence and a
    of interest, nor are they actively engaged in your project. Consider strong interest in the outcomes. Manage these stakeholders well to build
    their objectives and keep them satisfied to ensure they remain strong strong relationships and ensure you retain their support. Involve them in
    advocates. Getting them off side poses a risk. decisions and engage regularly.
    Examples: Examples:

     Regulators (eg. EPA, FDA, Tax)  Trade Unions


     Administrators (ie. with discretion over budgets)  Politicians and senior officials
     Investors
     Senior Management
     Project Sponsors
    Monitor Inform
    Low Influence, Low Interest Low Influence, High Interest
    These stakeholders sit on the periphery of the project. They are These stakeholders have a strong interest in your project but
    neither interested or have much influence. Monitor their activity from very little power to influence it. Anticipate their needs and keep
    time to time to stay on top of their involvement. Their relevance may change these stakeholders informed to ensure their continued support. Consult on
    over time. Communicate to keep them informed and encourage their interest. their area of interest and use their input to improve your chances of
    Examples: success.
    Examples:
     Support/Complementary Services
     End users of a program or product
     Members of the community
     Community Action groups
     Media outlets

    The resulting stakeholder matrix gives an indication of what kind of engagement strategy is useful for
    each group of stakeholders.

    How to create a stakeholder map


    Assemble a cross-functional group of people with a range of perspectives on the business, product,
    service, or project to create the stakeholder map. The quality of the outcomes is dependent on the
    insight of the participants, and a diverse group helps to identify key stakeholders from across the entire
    spectrum of the business.

    There are six general steps for a stakeholder mapping workshop. The time required will vary on the
    organization, the size of the group, and the focus of the session. However, there is no reason why the
    map can’t be completed within an hour. A comprehensive communications plan in response to the map
    will require further effort.

    Scope
    Give context and identify the scope of the stakeholder analysis
    Brainstorm
    Gather a comprehensive list of stakeholders.

    Position
    Position stakeholders according to their influence and interest.

    Rate
    Rate each stakeholder based on their level of support – from adversaryto advocate

    Action Plan
    Identify actions, assign responsibilities and timeframes
    Share
    Report on the outcomes and monitor as part of your communications strategy
     Scope
     Brainstorm
     Position
     Rate
     Action Plan
     Share
    The first step in building a stakeholder map is to create a categorized list of the people or groups who
    are interested or affected by your work and its outcomes, or who have influence or power over what
    you do.

    Stakeholders usually fall into two main categories. Those that contribute to the initiative and those that
    are affected by it. Some stakeholder may fit into both categories.

    Examples of stakeholder groups include:

     Owners and investors


     Direct and indirect customers
     Employees and beneficiaries
     Suppliers, competitors, and industry associations.
     The community including residents and special interest group
     Government authorities and regulatory bodies
    Questions to consider:

     Will the stakeholder be affected by this project?


     Can they influence the project?
     Do they control or have influence over any necessary resources?
     Do they have special skills or capabilities that you need?
     At what stage does this stakeholder have the most impact?
    Gather ideas using a whiteboard, sticky notes, poster paper or an online collaboration tool such as
    GroupMap. Using an online tool greatly reduces the time and effort to collate and organize the
    information in subsequent steps.

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