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Stakeholder Analysis and Management

Stakeholder means “a person with an interest or concern in something, especially a business.” In other words we can also say Stakeholder are the people that are directly or indirectly impacted with the proposed IT solution.

Stake holders are classified into three categories:

  1. Project stakeholders
  2. Business stakeholders
  3. External stakeholders

Project stakeholders:
They are usually the internal technical team of the IT company who are providing the solution like PM, BA, Business architects, Solution architects, Developers, Testers.

Business stakeholders: They are directly connected with the business like Business owners, Department heads, SME’s, Ambassadors, SPOCS and etc..

External stakeholders:
They are usually the 3rd party consultants who are from external sources like COTS (Commercial off the shelf), MOTS (Modified off the shelf), Political parties, Pressure groups.


What is stakeholder analysis?
Stakeholder analysis is a process to identify the key persons whose interest is to be considered in developing a solution. It is a part of stakeholder management. It focusses on weighing and balancing all the competing demands on a firm by each of those who have a claim on it, in order to arrive at the firm’s obligation in a particular case. Stakeholder analysis is used always during the preparation phase of a project to assess the attitudes of the stakeholders regarding the potential changes. This can be done once or on a regular basis to track changes in stakeholder attitudes over time.

Steps to be followed to perform stakeholder analysis:

  • Identify stakeholders
  • Stakeholder listing document
  • Stakeholders summary
  • RASCI Matrix – Responsible, Accountable, Supporting, Consulted, Informed.

Identify Stakeholders:
Identification of stakeholder is one of the most important step in the project management as the project are undertaken to satisfy the requirements of a stakeholder.
Stakeholder identification is the process used to identify all stakeholders for a project. It is to be noted that not all stakeholders will have the same influence or effect on a project, nor will they be affected in the same manner. It can also be done in a methodical and logical way to ensure that stakeholders are not easily omitted. This may be done basing at stakeholders organizationally, geographically, or by involvement with various project phases or outcomes.

Stakeholder listing document:
It contains list of both internal ,external ,project’s stakeholders. It identifies the people, groups and organizations that have any kind of interest in the project.

Stakeholder’s summary: helps the team to schedule appropriate attention to each, and decide how best to reduce the conflicting stakeholder interests when they happen.

RACI Matrix:
RACI matrix is technique used for categorization of stakeholders and clarifying the roles and responsibilities of each stakeholder in relation to the proposed IT solution.

R-Responsible: This speaks about who is completing the task.

A-Accountable: This speaks about who is making decision and taking action on the task’s
C-Consulted: This speaks about who will be communicated with regarding decision and tasks
I-Informed: This speaks about who will be updated on decision and actions during the project.

Example for RACI Matrix

Goal of stakeholder analysis:
Goal of stakeholder analysis is to build coordination between stakeholders and project team which ul leads to the successful completion of the project.

 

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