Question

How many of you have worked with a Stakeholder's Analysis on a project and what was determined?

Answer 1

Ans) Stakeholder Analysis is an important technique for stakeholder identification & analyzing their needs. It is used to identify all key (primary and secondary) stakeholders who have a vested interest in the issues with which the project is concerned.

- Stakeholder analysis (in conflict resolution, business administration, environmental health sciences decision making, Industrial ecology, and project management) is the process of assessing a system and potential changes to it as they relate to relevant and interested parties (stakeholders).

- There are different types of stakeholders. Some have higher degree of power and can decide the course of action, approve or veto decisions on a project. Another set of stakeholders can help with their expert opinion, so you consult them.

- A few other stakeholders need to know the progress of work as their activity starts when this piece of work is done. There are also stakeholders who want to know when the project will be complete.

- These stakeholders could be interested as the output of this project as that may help them in their work. All stakeholders are not equally involved or impacted in the project. So, project manager needs to know how to engage these different types of stakeholders. And this is the main reason why we need stakeholder analysis.