{"id":30988,"date":"2017-07-28T21:16:41","date_gmt":"2017-07-28T15:46:41","guid":{"rendered":"https:\/\/www.whizlabs.com\/?p=30988"},"modified":"2024-05-22T12:31:51","modified_gmt":"2024-05-22T07:01:51","slug":"pmp-stakeholder-analysis","status":"publish","type":"post","link":"https:\/\/www.whizlabs.com\/blog\/pmp-stakeholder-analysis\/","title":{"rendered":"Stakeholder Analysis \u2013 Is it required?  \u00a0"},"content":{"rendered":"<p>One of the major work a project manager does is stakeholder\u2019s management. There are multiple individuals involved in a project and Project manager being the integrator and centre of project, has to satisfy all the stakeholders within the boundaries of the project. This is the reason stakeholder\u2019s management and analysing the critical stakeholders in a project is very important for the success of the project. In this article I shall touch upon basics of Stakeholder\u2019s analysis and the reasons, why it\u2019s required.<\/p>\n<ul>\n<li><strong><a href=\"https:\/\/www.whizlabs.com\/project-management-professional-pmp\/\" target=\"_blank\" rel=\"noopener\">PMP Certification<\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/www.whizlabs.com\/project-management-professional-pmp\/pmp-practice-tests\/\" target=\"_blank\" rel=\"noopener\">Exam Simulator for PMP<\/a><\/strong><\/li>\n<\/ul>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_76 ez-toc-wrap-left counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ea7e02;color:#ea7e02\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ea7e02;color:#ea7e02\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.whizlabs.com\/blog\/pmp-stakeholder-analysis\/#Who_is_a_stakeholder\" >Who is a stakeholder?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.whizlabs.com\/blog\/pmp-stakeholder-analysis\/#_What_is_Stakeholder_Analysis\" >\u00a0What is Stakeholder Analysis?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.whizlabs.com\/blog\/pmp-stakeholder-analysis\/#Stakeholder_Analysis_techniques\" >Stakeholder Analysis techniques<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.whizlabs.com\/blog\/pmp-stakeholder-analysis\/#_Why_Stakeholders_Analysis_required\" >\u00a0Why Stakeholders Analysis required?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.whizlabs.com\/blog\/pmp-stakeholder-analysis\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Who_is_a_stakeholder\"><\/span><span lang=\"EN-IN\">Who is a stakeholder?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span lang=\"EN-IN\">As per PMBOK\u00ae version 5<\/span><\/p>\n<p><b><i><span lang=\"EN-IN\">An individual, group, or organization who may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project <\/span><\/i><\/b><\/p>\n<p><span lang=\"EN-IN\">\u00a0<\/span>Anyone whose interest is impacted either positively or negatively is called stakeholder in the project. While doing stakeholder management, project manager deals with human beings and human beings have their interests. It\u2019s very difficult to understand the interests of all the individuals involved and work as per it. Also it\u2019s very difficult to mould the human beings interests in favour of project.<\/p>\n<p><span lang=\"EN-IN\">\u00a0<\/span>This is the reason stakeholder management has so much importance in the project and Project manager has to focus on it.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"_What_is_Stakeholder_Analysis\"><\/span><span lang=\"EN-IN\">\u00a0<\/span>What is Stakeholder Analysis?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span lang=\"EN-IN\">As per PMBOK\u00ae version 5<\/span><\/p>\n<p><b><i><span lang=\"EN-IN\">\u201cStakeholder analysis is a technique of systematically gathering and analysing quantitative and qualitative information to determine whose interests should be taken into account throughout the project. It identifies the interests, expectations, and influence of the stakeholders and relates them to the purpose of the project\u201d<\/span><\/i><\/b><\/p>\n<p><b><i><span lang=\"EN-IN\">\u00a0<\/span><\/i><\/b>When we say systematic gathering and analysis, we need this to understand the interests better and also to understand how critical that stakeholder is. There are majorly three dimensions over which this analysis is done i.e. Interests, influence and Power.<\/p>\n<p><span lang=\"EN-IN\">\u00a0<\/span>Any stakeholder analysis is a three step approach<\/p>\n<p><span lang=\"EN-IN\">\u00a0<a href=\"https:\/\/www.whizlabs.com\/blog\/wp-content\/uploads\/2024\/05\/3-4.png\"><img decoding=\"async\" src=\"https:\/\/www.whizlabs.com\/blog\/wp-content\/uploads\/2024\/05\/3-4.png\" alt=\"Stakeholder Analysis in 3 steps\" width=\"576\" height=\"240\" class=\"aligncenter size-full wp-image-30994\" \/><\/a><\/span><\/p>\n<p><span lang=\"EN-IN\">\u00a0<\/span><\/p>\n<p><strong><span lang=\"EN-IN\">Identify<\/span><\/strong><span lang=\"EN-IN\"><strong>:<\/strong> Identify the characteristics of the stakeholders i.e. roles, departments, interests, knowledge, expectations <\/span><\/p>\n<p><strong><span lang=\"EN-IN\">Analyse<\/span><\/strong><span lang=\"EN-IN\"><strong>:<\/strong> Analyse the positive and negative impact of these stakeholders and classify them so that you can make an appropriate strategy for the stakeholders.<\/span><\/p>\n<p><strong><span lang=\"EN-IN\">Assess<\/span><\/strong><span lang=\"EN-IN\"><strong>:<\/strong> Understand how key stakeholders are likely to react or respond in a situation. This assessment will help Project manager to work towards enhancing positive impact and mitigating negative ones.<\/span><\/p>\n<p><span lang=\"EN-IN\">\u00a0<\/span>We shall discuss few of the common stakeholder analysis techniques to understand this better.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Stakeholder_Analysis_techniques\"><\/span>Stakeholder Analysis techniques<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span lang=\"EN-IN\">The techniques suggested for stakeholder analysis are two dimensional grids to identify zones for stakeholders and then create the strategy for management.<\/span><\/p>\n<p><span lang=\"EN-IN\">It\u2019s assumed that before doing stakeholder analysis, a list of the stakeholders is already available. The grids available along with their definitions as per PMBOK\u00ae are:<\/span><\/p>\n<ul>\n<li><span lang=\"EN-IN\"> <\/span><strong><span lang=\"EN-IN\">Power &amp; Interest<\/span><\/strong><span lang=\"EN-IN\"><strong> :<\/strong> grouping the stakeholders based on their level of authority (\u201cpower\u201d) and their level or concern (\u201cinterest\u201d) regarding the project outcomes;<\/span><\/li>\n<\/ul>\n<ul>\n<li><span lang=\"EN-IN\"> <\/span><strong><span lang=\"EN-IN\">Power &amp; Influence<\/span><\/strong><span lang=\"EN-IN\"><strong>:<\/strong> grouping the stakeholders based on their level of authority (\u201cpower\u201d) and their active involvement (\u201cinfluence\u201d) in the project<\/span><\/li>\n<li><span lang=\"EN-IN\"> <\/span><strong><span lang=\"EN-IN\">Influence &amp; impact<\/span><\/strong><span lang=\"EN-IN\"><strong>:<\/strong> grouping the stakeholders based on their active involvement (\u201cinfluence\u201d) in the project and their ability to effect changes to the project\u2019s planning or execution (\u201cimpact\u201d)<\/span><\/li>\n<\/ul>\n<p><span lang=\"EN-IN\">Let\u2019s take one grid as example and understand how it helps<\/span><\/p>\n<p><span lang=\"EN-IN\">\u00a0<a href=\"https:\/\/www.whizlabs.com\/blog\/wp-content\/uploads\/2024\/05\/4-2.png\"><img decoding=\"async\" src=\"https:\/\/www.whizlabs.com\/blog\/wp-content\/uploads\/2024\/05\/4-2.png\" alt=\"Grids helpful for Stakeholder analysis\" width=\"593\" height=\"383\" class=\"aligncenter size-full wp-image-30995\" \/><\/a><\/span><\/p>\n<p><span lang=\"EN-IN\">\u00a0<\/span>Above is one of such grids which can help in doing stakeholder\u2019s analysis. This is Power\/Influence grid.<\/p>\n<p><span lang=\"EN-IN\">\u00a0<\/span>If we look at this grid, there are four section<\/p>\n<table border=\"1\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td width=\"123\" valign=\"top\"><b><span lang=\"EN-IN\">Power<\/span><\/b><\/td>\n<td width=\"95\" valign=\"top\"><b><span lang=\"EN-IN\">Influence<\/span><\/b><\/td>\n<td width=\"384\" valign=\"top\"><b><span lang=\"EN-IN\">Stakeholder Analysis<\/span><\/b><\/td>\n<\/tr>\n<tr>\n<td width=\"123\" valign=\"top\"><b><span lang=\"EN-IN\">High<\/span><\/b><\/td>\n<td width=\"95\" valign=\"top\"><span lang=\"EN-IN\">High<\/span><\/td>\n<td width=\"384\" valign=\"top\"><span lang=\"EN-IN\">Most critical lot of stakeholders. These stakeholders are high in power and involvement and has to be monitored very closely<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"123\" valign=\"top\"><b><span lang=\"EN-IN\">High<\/span><\/b><\/td>\n<td width=\"95\" valign=\"top\"><span lang=\"EN-IN\">Low<\/span><\/td>\n<td width=\"384\" valign=\"top\"><span lang=\"EN-IN\">High power stakeholders are still important as they have the capability of turning things in favour and opposition. So this category of stakeholders should be informed at appropriate level<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"123\" valign=\"top\"><b><span lang=\"EN-IN\">Low<\/span><\/b><\/td>\n<td width=\"95\" valign=\"top\"><span lang=\"EN-IN\">High<\/span><\/td>\n<td width=\"384\" valign=\"top\"><span lang=\"EN-IN\">A stakeholder low in power is a breather but if s\/he has high influence, involvement is more. It\u2019s important that these stakeholders works in favour of Project Manager or for that matter in favour of Project. That\u2019s the reason it\u2019s important to take this category of stakeholders satisfied.<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"123\" valign=\"top\"><b><span lang=\"EN-IN\">Low <\/span><\/b><\/td>\n<td width=\"95\" valign=\"top\"><span lang=\"EN-IN\">Low<\/span><\/td>\n<td width=\"384\" valign=\"top\"><span lang=\"EN-IN\">This category is where the high level monitoring should be enough because power and influence of the stakeholders are both low.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>So what did we achieve after completing this stakeholder analysis?<\/p>\n<ul>\n<li><span lang=\"EN-IN\"> <\/span><span lang=\"EN-IN\">We have a category (out of four) for all the stakeholders already identified<\/span><\/li>\n<li><span lang=\"EN-IN\"> <\/span><span lang=\"EN-IN\">Project Manager has a view where to focus more and where to focus less<\/span><\/li>\n<li><span lang=\"EN-IN\"> <\/span><span lang=\"EN-IN\">Project Manager knows certain critical stakeholders he has to ensure close monitoring without a miss so that there is no adverse effect on the project<\/span><\/li>\n<\/ul>\n<p><span lang=\"EN-IN\">Similarly any of the above mentioned grids can be chosen based on the organization and then stakeholder\u2019s analysis can be conducted.<\/span><\/p>\n<p><span lang=\"EN-IN\">\u00a0<\/span>Stakeholder\u2019s analysis also helps in identifying stakeholder\u2019s inter-relationships which are important to know and leverage for the benefits of the project.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"_Why_Stakeholders_Analysis_required\"><\/span><span lang=\"EN-IN\">\u00a0<\/span>Why Stakeholders Analysis required?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span lang=\"EN-IN\">If we understood the above discussion, we can answer this question very well. Few obvious outcomes are:<\/span><\/p>\n<ul>\n<li><span lang=\"EN-IN\"> <\/span><span lang=\"EN-IN\">To deal with human\u2019s it\u2019s important to know them for the success of the project<\/span><\/li>\n<li><span lang=\"EN-IN\"> <\/span><span lang=\"EN-IN\">Project Manager has limited bandwidth, He should be aware where to focus how much<\/span><\/li>\n<li><span lang=\"EN-IN\"> <\/span><span lang=\"EN-IN\">Project success is in the hands of stakeholders, effectively we know, better we can work towards taking them along for project success<\/span><\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"https:\/\/www.whizlabs.com\/blog\/pmp-certification\/\">ULTIMATE GUIDE for Preparing PMP Certification Exam<\/a><\/strong><\/li>\n<li><span><strong><a href=\"https:\/\/www.whizlabs.com\/blog\/pmp-certification\/\">Self Study Training \u2013 Project Management Professional (PMP) Certification<\/a><\/strong><\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><span lang=\"EN-IN\">Conclusion<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span lang=\"EN-IN\">Project involves humans and when it comes to human beings, it\u2019s very important to understand and analyse the needs and behaviours of humans so that required focus can be routed in right direction. A Project Manager not good at stakeholder management can\u2019t run a successful project for sure as individuals responsible for the success and failure are not with you. Therefore it\u2019s very important for Project Manager to understand the stakeholders and analyse then using an apt technique and then work towards making strategy as per the outcomes.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of the major work a project manager does is stakeholder\u2019s management. There are multiple individuals involved in a project and Project manager being the integrator and centre of project, has to satisfy all the stakeholders within the boundaries of the project. This is the reason stakeholder\u2019s management and analysing the critical stakeholders in a project is very important for the success of the project. In this article I shall touch upon basics of Stakeholder\u2019s analysis and the reasons, why it\u2019s required. PMP Certification Exam Simulator for PMP Who is a stakeholder? As per PMBOK\u00ae version 5 An individual, group, [&hellip;]<\/p>\n","protected":false},"author":145,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[26],"tags":[1280],"class_list":["post-30988","post","type-post","status-publish","format-standard","hentry","category-project-management","tag-project-management-5"],"uagb_featured_image_src":{"full":false,"thumbnail":false,"medium":false,"medium_large":false,"large":false,"1536x1536":false,"2048x2048":false,"profile_24":false,"profile_48":false,"profile_96":false,"profile_150":false,"profile_300":false,"tptn_thumbnail":false,"web-stories-poster-portrait":false,"web-stories-publisher-logo":false,"web-stories-thumbnail":false},"uagb_author_info":{"display_name":"Sparsh Goyal","author_link":"https:\/\/www.whizlabs.com\/blog\/author\/sparsh\/"},"uagb_comment_info":0,"uagb_excerpt":"One of the major work a project manager does is stakeholder\u2019s management. There are multiple individuals involved in a project and Project manager being the integrator and centre of project, has to satisfy all the stakeholders within the boundaries of the project. This is the reason stakeholder\u2019s management and analysing the critical stakeholders in a&hellip;","_links":{"self":[{"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/posts\/30988","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/users\/145"}],"replies":[{"embeddable":true,"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/comments?post=30988"}],"version-history":[{"count":2,"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/posts\/30988\/revisions"}],"predecessor-version":[{"id":96521,"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/posts\/30988\/revisions\/96521"}],"wp:attachment":[{"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/media?parent=30988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/categories?post=30988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.whizlabs.com\/blog\/wp-json\/wp\/v2\/tags?post=30988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}