Stakeholders are groups or individuals that are affected by and/or have an interest in the operations and objectives of the business Most businesses have a variety of stakeholder groups which can be broadly categorised as follows: 4 0 obj The list of potential stakeholders could include: After you’ve completed your brainstorming session above and determined which people and teams will indeed be stakeholders, you should start categorizing them in terms of their influence, interest, and levels of participation in your project. Doing stakeholder analysis requires patience and careful judgement, and particular attention to the contextual influences shaping policy actors’ interests, positions on new policy proposals and relative power. What other priorities do they have, and how can we align our project with those priorities (or at least ensure the project won’t threaten them)? x��Y�o�8�����"�E��Ƕ���! 3 0 obj a regulatory body), it can be worthwhile to prepare a sub-analysis focussed on that organization. Conducting a stakeholder analysis can be strategically valuable when kicking off any type of complex company undertaking. Most stakeholder analyses, including this template, are represented by a visual map of a 2-by-2 matrix. Following are the primary aspect needs to be considered for stakeholder analysis Step 1) Identify your stakeholders: Your boss, your team, senior executives, prospective customers, your family, etc. css: '', Once you have the initial stakeholder profile information you can categorize and perform stakeholder analysis by creating stakeholder power/ interest grid as follows: When you create your stakeholders power/interest grid, you can figure which stakeholder has high or low power and the impact to your project. Stakeholder Analysis also features as part of the various certificates awarded by the International Institute of Business Analysis (IIBA) - so people studying for those will also find these notes helpful. The synthesis describes specific techniques for conducting a formal stakeholder analysis, such as the use of stakeholder tables and a stakeholder influence/interest grid. When it comes to any organizational project, all of the internal people and teams who the project will involve or affect are called its stakeholders. }); Making Strategy: Mapping Out Strategic Success, Product Management vs. Project Management. However, I have kept my entry level tool as simple as possible, combining the last two criteria into a single column, so … ގb��|�nr���ԏߊA��p�����t�nkMY�%�WV�2��r�G��!�M�7Y����ě����ڷO��PXQ7��S��{��vtQ�.�a�������V+��p�q 4���$p:a|b��4�p�\��EbrCEe�=j ;:��ùU�H�@��NudD_2A��ȿz*�2 ֏�Z1v-P�%C ��!��i�eV��bO��*5�U�w����� This is because many people can be involved and not all … Here’s how many organizations conduct a stakeholder analysis. However, if you enlist the help and approval of these stakeholders early on, you can turn many of these individuals into avid supporters of your initiatives. "Level 1" priorities will likely encompass those stakeholders with "maximum" impact and accountability and "strong" influence capability (both positive and/or negative). A stakeholder analysis is a process of identifying these people before the project begins; grouping them according to their levels of participation, interest, and influence in the project; and determining how best to involve and communicate each of these stakeholder groups throughout. Some of those criteria may include interest, influence, financial stake, emotional stake, those on the periphery who are still important enough to keep in the loop, etc.

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