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Stakeholder Analysis And Management

What's a Stakeholder?


Google will allow you to search for "define: stakeholder" and you'll be amazed at the vast differences in how this simple word is defined. This may be a good example of how confusing people can get about stakeholder management and how inconsistent different approaches to it can sometimes be.

I define it as "anyone who is affected by a decision, and is interested in its outcome." Individuals and groups from within or outside your organization can be included. You can browse our site  if you want to learn more about stakeholders.

Analysis of Stakeholders

Stakeholder analysis begins with assessing the influence and importance of each stakeholder. These are two different things! Each Stakeholder/Stakeholder group. The extent to which a stakeholder can influence project operations and thus affect project outcomes is called Influence. 

Influence refers to the stakeholder's power. Higher influence is likely to be due to factors such as the stakeholder's control over project funding, and their involvement in decision-making regarding investments in technology or business change.

The importance of a stakeholder is the extent to which their problems, needs, and interests are affected or impacted by project operations or desired outcomes. The project will not be considered a success if it isn't able to assist 'important' stakeholders.