How to conduct Stakeholder Analysis?

The basics of requirement management is planning for stakeholder analysis. If you miss this, you will face many hurdles. Stakeholder analysis is key to succeed in your project as missing any stakeholder in the stakeholder analysis means that stakeholders requirements will add to the project as either an additional requirements or a change. Both would have an impact on project timeline and budget. Moreover, the stakeholder may be disappointed for not counting him/her in the first place.

Let us understand how to work on stakeholder analysis…following are few tips of analyzing the stakeholders and creating the list in most effective way.

– By studying the business need (problem or an opportunity) and solution scope document to understand stakeholders and their involvement.

– Outlining the stakeholders’ details by studying the organizational structure or modelling the organization (enterprise architecture) and their relationships, and communication.

– Getting additional details through existing documents related to stakeholder analysis.

– Communicating and collaborating with identified stakeholders to confirm details thus obtained (except for details on their attitude and persona).

Process: First identify the impact of the business need (problem or an opportunity). Once you know the details, that will become your basis to build stakeholders. You also obtain organizational structure to understand the people and their role. You discuss with the main stakeholders to identify the stakeholders or you can obtain the official stakeholders list as some of organizations have formal designated person for every dept who act as stakeholder(s) for them.

stakeholder analysis

You can compile the data in excel and verify the data with the relevant stakeholders.

The data can be compiled using following parameters.

  1. # / Stakeholder Number
  2. Name
  3. Contact Number
  4. Email
  5. Location
  6. Role
  7. Responsibiltiies
  8. Authority Level
  9. Profile or
  10. Technical skills / proficiency
  11. Preferred environment
  12. Special Needs
  13. RACI (R – Responsible, A – accountable, C – consulted and I Informed. Some may add S for support, but that is an optional)
  14. Additional Description
  15. Group / category
  16. Influence *
  17. Attitude *

Please remember that all the information can be send to stakeholders to validate the data, except last two (influence and attitude) unless you want get fired. This list must be modified by authorized person to avoid complication of loss of data or changes made to the documents.

You can add more parameters such as communication frequency, communication tool/methodologies to this matrix or arrange the stakeholder data your style that can be used easily.