What is Stakeholder Analysis?

A Stakeholder Analysis in project management is analogous to the process of compiling a list of all the essential people who can impact or are affected by your project and learning what they care about. It’s similar to knowing who will be attending your birthday party and determining what gifts they would prefer. In Stakeholder Analysis, you identify and investigate these individuals (stakeholders), learning about their interests, concerns, and the level of influence they have on your project. It assists project managers in ensuring that everyone’s requirements and expectations are met, increasing the likelihood of the project’s success by keeping everyone happy and participating.