Stakeholder analysis

Abstract

A stakeholder can be shortly described either as an individual, group or organisation who is affected by the output of a project. Stakeholders have an engagement in the achievement of the project and can be inside or outside the organisation that is supporting the project.

Key words:

Stakeholders, Stakeholders analysis, Project Management, Portfolio Management, Program Management

Stakeholders and stakeholder analysis

According to the classic definition of stakeholders from Project Management Institute that is relevant for any project case “Stakeholders of a project are individuals, groups, or organizations that are affected or recognized to be affected either in a positive or negative way by a decision, action, or output of a project”.i Stakeholder analysis is referred as the systematic gathering and analysis of quantitative and qualitative data to decide whose interests should be taken into consideration throughout the project. The objective of performing a stakeholder analysis is to provide the project manager and project team an overview of the people who have interest in the project. It should be one of the first steps of each project. It aims to identify everyone with a concern who needs to be involved.

Stakeholder analysis process

There are several approaches regarding the stakeholder analysis process in the bibliography, but most of them have a common philosophy and can be summarised in four principal steps : Identifying, Prioritising, Profiling and Managing Stakeholders.

Identify stakeholders

The first key step in stakeholder analysis process is to identify all the people(individuals or groups) and organisations that are impacted by the project, and report all relevant information concerning their interests, engagement, influence and affect on project success.