What is stakeholder analysis?

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Stakeholder analysis is the process of identifying and evaluating individuals, groups, or organizations that have an interest in, are affected by, or can influence a project, policy, or decision. It is a key component of project management, strategic planning, and change management.

Purpose of Stakeholder Analysis:

• Understand who the stakeholders are.

• Determine their interests, influence, and impact on the project.

• Identify potential risks, conflicts, or support.

• Develop strategies to communicate and engage effectively with each stakeholder.

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Steps in Stakeholder Analysis:

1. Identify Stakeholders
   List all individuals and groups affected by or involved in the project (e.g., customers, employees, regulators, investors).

2. Assess Stakeholder Interests and Influence
   Determine what each stakeholder cares about and how much power or influence they have over the project’s success.

3. Prioritize Stakeholders
   Use tools like a power-interest grid to categorize stakeholders based on their level of influence and interest.

4. Develop Engagement Strategies
   Plan how to manage and communicate with each stakeholder group to maintain support and mitigate opposition.

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Common Tools:

• Power-Interest Grid

• Stakeholder Maps

• Influence/Impact Matrix

• RACI Matrix (for role assignments: Responsible, Accountable, Consulted, Informed)

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Benefits:

• Reduces risk of conflict or project failure

• Improves communication and stakeholder satisfaction

• Enhances project alignment with organizational or community goals

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