Stakeholder Analysis is a technique that identifies and assesses the role and influence of key stakeholders on the success of your action. It helps ensure your actions are in alignment with stakeholder interests, expectations, and requirements.
The Balanced Scorecard Institute defines a stakeholder as “an individual or group with an interest in the success of an organization in delivering intended results and maintaining the viability of the organization's products and services. Stakeholders influence programs, products, and services.”
A good analysis will identify key stakeholder issues and concerns related to your requirement. This knowledge will help you develop strategies to address their concerns and expectations. When stakeholders understand you are working to solve their issues, you are more likely to get their support for your acquisition and reduce or minimize future obstacles. Your analysis plays a key role in developing your communication strategy to keep the stakeholders informed and on board.
Watch the video for a discussion of the key elements of performing a good Stakeholder Analysis.