A Stakeholder Analysis is a report which identifies each stakeholder’s level of involvement in a project and how that involvement can influence the project’s overall success. Depending on the result of the analysis, a project manager may adjust the parameters of a project or limit a stakeholder’s involvement, and therefore, his or her influence over a project.
What is a Stakeholder Analysis, and what are best practices, tools and templates for teams and organizations?
Definition of Stakeholder Analysis
Description of Stakeholder Analysis
Stakeholder Analysis is used to assess how the interests of those stakeholders should be addressed in a project, plan, policy, or program, often as part of a large-scale strategic change or project implementation. A stakeholder analysis of an issue consists of weighing and balancing all of the competing demands on a firm by each of those who have a “stake” in it. A stakeholder analysis ensures that the interests and goals of all parties affected by a project will be considered.
Stakeholder Analysis is frequently used during the preparation phase of a project to assess the attitudes of the stakeholders regarding any potential changes. Stakeholder analysis can be conducted at a single point in time or on a regular basis to track changes in stakeholder attitudes over time.
The various types of stakeholders include:
- Primary stakeholders: are those ultimately affected, either positively or negatively by an organization’s actions.
- Secondary stakeholders: those persons or organizations who are indirectly affected by the actions of an organization.
- Key stakeholders: those may also belong to the first two groups and have significant influence on the overall project’s resources or success.
When conducting a stakeholder analysis, it can be helpful to consider any of the following types of primary, secondary, or key stakeholders:
- Executive Sponsors
- Business Units
- Functional Departments
- Anyone else impacted by the potential change
The outcome of a Stakeholder Analysis is ideally the cooperation between the stakeholder and the project team, ultimately ensuring successful outcomes for the project.
Tools & Templates
Specific tools used in a Stakeholder Analysis include a map, grid or matrix which defines the various levels of engagement or interest among the various stakeholders.
upBOARD's Online Stakeholder Analysis Tools & Templates
upBOARD’s online Stakeholder Analysis tools allow any team or organization to instantly begin working with our web templates and input forms. Our digital platform goes far beyond other software tools by including progress dashboards, data integration from existing documents or other SaaS software, elegant intuitive designs, and full access on any desktop or mobile device.
Learn more about upBOARD’s portfolio of other human resources best practice tools and templates, including:
Career Planning, Change Management, Communication Management, Competency-Based Interviewing, Critical Incidents, Culture Mapping, Delphi Method, Employee Engagement Surveys, Executive & Leadership Coaching, Growth Mindset, Herzberg’s Two-Factor Theory, Job Analysis, Job Description, Learning and Growth Perspective, Mentoring, Performance Management, RACI, Resource Breakdown Structures (RBS), Retirement Index, Skills Requirement Checklist, Stakeholder Analysis, and Workday Task Analysis.