What is stakeholder analysis?

Stakeholder analysis — this is the process of identifying, assessing, and understanding all individuals, groups, or organizations that may influence the project or be affected by its outcomes.

Goals of analysis:

• Identify key stakeholders.
• Understand their interests, expectations, and influence on the project.
• Develop strategies for engagement and communication with them.

Example: In a software development project, stakeholders may include the customer, end users, the development team, managers, suppliers, and regulators. The analysis helps identify who among them is critical to the project's success and how best to interact with them.

This helps minimize risks, increase support for the project, and ensure its successful completion.