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- Stakeholder Analysis | BEST way to analyse Stakeholders
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Stakeholder Analysis, Project Management, templates and advice
Analysing your Stakeholders is crucial to the success of your business or project. This step by step guide shows the best way to analyse stakeholders - by influence or power and interest. What is Stakeholder Analysis? For example, show advocates and supporters in green, blockers and critics in red, and those who are neutral in orange.
See the diagram, below. In figure 2, you can see that a lot of effort needs to be put into persuading Piers and Maureen of the benefits of the project, while Janet and Amanda also need to be managed effectively as powerful supporters. You can create your own example of Stakeholder Analysis at work — whether for your current role, a job you want to do, or a new project. Conduct a full stakeholder analysis.
Ask yourself whether you are communicating as effectively as you should be with your stakeholders. What actions can you take to get more from your supporters or win over your critics? Add your stakeholders to our free Interactive Screen App below. You can move your stakeholders around, or change their color, depending on what your analysis reveals.
Stakeholder Analysis | BEST way to analyse Stakeholders
As the work you do and the projects you run become more important, you will affect more and more people. Some of these people have the power to undermine your projects and your position. Others may be strong supporters of your work. Stakeholder Management is the process by which you identify your key stakeholders and win their support.
Stakeholder Analysis is the first stage of this, where you identify and start to understand your most important stakeholders. The first stage of this is to brainstorm who your stakeholders are. The final stage is to get an understanding of what motivates your stakeholders and how you need to win them around.
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If a completed matrix has few people in the top half it may indicate that the project doesn't have sufficient sponsorship authority. Eden and Ackermann are careful to keep the definition of power open, but the use of the term can be see as excluding stakeholders who on the face of it appear powerless, but can become powerful, if supported by a powerful advocate.
Examples are direct action groups and grass roots movements that with enough publicity can significantly impact a companies strategic direction Eden and Ackermann,, p Support and Importance stakeholder matrix Stakeholder Assessments developed by Paul Nutt , is a grid for managing focus groups made up of stakeholders.
Stakeholders are positioned on the matrix according to their expected level of support and importance to the issue. Each square on the y axis is given a 1 to 5 rating which is used to identify the 'intensity of the expected opposition or support position'. On the x axis a rating of 1 - 10 is used to measure the stakeholders importance Nutt, , p Stakeholders who will likely oppose a decision or action and who are important are classed as antagonistic and are candidates for a focus group to highlight key concerns.
Interest is defined as a stakeholders 'potential interest in the programme outcomes' OGC, p Attitude and Knowledge stakeholder map The stakeholder knowledge base , chart was developed by Rodney Turner. Stakeholders' knowledge of a project and their attitude are mapped onto a matrix. The matrix labels each box rather than using a range.