The term Stakeholder refers to any individual, group, organization, or entity that has an interest, influence, or involvement in the project's outcomes, processes, or decisions.

Stakeholders can have varying degrees of impact on the project and may include parties such as clients, customers, project sponsors, team members, end-users, regulatory bodies, suppliers, and more.

Understanding and managing stakeholders is crucial for project success, as their perspectives, requirements, and concerns can directly affect the project's direction, priorities, and ultimate success. Effective stakeholder management involves identifying stakeholders, assessing their power, understanding their expectations, communicating with them, and taking their input into consideration throughout the project lifecycle.

• How to identify a project’s Stakeholder?

Stakeholders Analysis, a guide.

1. Identify Stakeholders: Create a comprehensive list of all individuals, groups, or entities that have an interest in or influence over the project, check the toggle above this section to get some help in identifying your stakeholders.

2. Prioritize Stakeholders: Not all stakeholders have the same level of power or influence on the project, and also they could have attitudes to support or confront the project.

   For each stakeholder, you could also assess their potential impact on the project and their expectations. Consider factors such as financial investment, decision-making authority, expertise, and how the project's success or failure could affect their interests.

   Depending on the information you have two approaches to analyze the Stakeholders you identified. In the Stakeholders Analysis section in this template you can apply the Power - Impact Analysis or/and the Power Attitude Analysis.

3. Engage Stakeholders: Engage with stakeholders through regular communication, meetings, surveys, or workshops. This helps to gather their perspectives, concerns, and requirements. Understand their goals, concerns, and the level of involvement they want in the project.

4. Analyze Interactions: Identify how different stakeholders might interact with each other. Some stakeholders may have conflicting interests, while others may have aligned goals. Understanding these interactions can help you manage potential conflicts and build collaboration where needed.

5. Prepare a Visual representation of Analysis’ Results. Matrix is a good representation of the results of your analysis and allow you to concentrate where you need to.

6. Develop Actions to Manage your Stakeholders: Based on the influence and impact analysis, develop actions to manage each stakeholder effectively. This might involve adjusting communication frequency, addressing concerns, involving stakeholders in decision-making, or adapting project plans to accommodate their needs.

7. Monitor and Adapt: Stakeholders analysis is an ongoing process. Continuously monitor stakeholders' interests and influence throughout the project lifecycle. As circumstances change, adjust your strategies and engagement approach accordingly.