Stakeholder Analysis
A stakeholder analysis is a technique companies can use to identify and assess the importance of key people, groups of people, or institutions that may significantly influence the success of your company or project. Board Members and executive level managers create and review the information contained in the analysis to make critical business decisions that improve the company’s performance. The analysis is used to identify people, groups, and institutions that will influence the company’s vision and goals either positively or negatively. This requires some forecasting and research to try and anticipate the kind of influence, positive or negative, these groups will have on your projects and develop strategies to get the most effective support possible and reduce any obstacles to successful implementation of the plan. A stakeholder analysis normally should be completed in the early stages of planning any major project.
The information gathered in the stakeholder analysis is evaluated and a matrix can be developed which is just an organized format of all of the information gathered so that it can be easily compared and evaluated (See sample Matrix). All the people, groups, and institutions that will affect or be affected by the project are listed the column named "Stakeholder." Within some organizations there may be sub-groups which should be considered as stakeholders. For example, public service unions, women employees, specific categories of staff. There also may be some informal groups of people who will act as intermediaries. For example, politicians, local leaders, respected persons with social or religious influence. They can be divided into funding, implementing, monitoring and advocacy organizations, or simply governmental. Once you have identified all potential stakeholders, you review the list and identify the specific interests these stakeholders have in your project. Consider issues like the project's benefits to...