Project Management Knowledge

Stakeholder Analysis

determine whose interest should be taken into account throughout the project is called a stakeholder analysis. It identifies the interests, expectations, and influence of the stakeholder and relates them to the purpose of the project. It also helps to identify stakeholder relationships (with the project and with other stakeholders) that can be leveraged to build coalitions and potential partnerships to enhance the project’s chance of success, along with stakeholder relationships that need to be influenced differently at different stages of the project or phase.

According to the project management, stakeholder analysis follows certain steps, such as identifying all potential stakeholders and relevant information, such as their roles departments, interests, knowledge, expectations, and influence levels. Another step that stakeholder analysis follows in the project management is analyzing the potential impact or support each stakeholder could generate, and classify them so as to define an approach strategy.

In large stakeholder communities, it is important to prioritize the stakeholders to ensure the efficient use of effort to communicate and manage their expectations. It also assesses how key stakeholders are likely to react or respond in various situations, in order to plan how to influence them to enhance their support and mitigate potential negative impacts.

This term is defined in the 5th edition of the PMBOK.

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