Stakeholder
Area of Interest Projects feature unknowns, and because of that there can be differences in the way that different stakeholders interpret the project, and these interpretations can affect the level of support a project receives throughout the organization. It is important, therefore, to evaluate the interests of the different organizational stakeholders, and then to be able to relate those interests to the project, in order to better understand the expected reactions of the different stakeholders (Elias, Cavana & Jackson, 2002).
The stakeholder analysis can also affect the way a project is envisioned. A project can be tailored to the interests of specific critical stakeholders, or adjusted to better meet the needs of more stakeholders. A formal stakeholder management process begins with a structure analysis of stakeholder interests and alignments, as the above example illustrates (Olander, 2007). But this analysis is just the beginning of the stakeholder management process. While it is an important part of this process, the initial stakeholder analysis does establish a base framework for at least identifying who the relevant stakeholders are and how they might view the proposed project.
Attitude (+ or -)
Power (+ or _)
Interest (+ or -)
Stakeholder Type
CEO Overall profitability + + - Sleeping Giant
VP, Ops Overall performance + + - Sleeping Giant
Regional Director Regional perf. + + + Savior
Other managers How the project + / - + - Irritants affects them.
Employees How the project - + + Saboteurs
affects them
Suppliers Their revenue - / + -- Irritants
VP, Compliance - + + Saboteur?
Finance Dept Funding good projects - + + Savior or Saboteur
Stakeholder analysis should be conducted in order to better understand how the different stakeholders will respond to a new project proposal. There are many interests within an organization, and they can play different roles with any new project, usually related to the impact that the project will have on their interests. By identifying stakeholders, the organization can allow those planning the project to anticipate problems, to gather support for the project, and to line up knowledge, funding and other key organizational resources before the project has been commenced (Schmeer, 2015 ).
Thus,
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Defining the size of a project is challenging, but a necessary part of the planning process, because the size of the project determines the resources that the…
References
Elias, A., Cavana, R. & Jackson, L. (2002). Stakeholder analysis for R&D project management. R&D Management. Retrieved April 26, 2015 from http://community.mis.temple.edu/mis5102sec401/files/2011/02/stakeholder-analysis-for-rd-projects.pdf
Olander, S. (2007). Stakeholder impact analysis in construction project management. Construction Management and Economics Vol. 25 (3) 277-287.
Schmeer, K. (2015) Stakeholder analysis guidelines. Eestum Management. Retrieved April 26, 2015 from http://www.eestum.eu/voorbeelden/Stakeholders_analysis_guidelines.pdf
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