Stakeholder Analysis Process

Competent managing of different stakeholders in projects, programs or portfolios is a crucial part of project management. A project success depends exclusively on the stakeholders satisfaction, which makes the handling essential. Stakeholder has different influence and interest in projects and must therefore be treated in individual ways. Stakeholder analysis process consists of a number of steps including a large variety of methods and tools that establish a broad foundation of knowledge and understanding of the different stakeholders behavior. The stakeholder analysis is a dynamic process through a project, as stakeholders are changing character, new are acceding and old are leaving. The stakeholder analysis is overall creating groundwork for evolving a decision and conduct strategy of managing the stakeholder. A stakeholder analyses is a simple and helpful approach for creation of a managing strategy, but it is also providing some distortion view of the reality.

History

The term “stakeholder” appeared for the first time in 1963 in management literature at the Stanford Research Institute