The stakeholder analysis tool is a key resource for evaluating project strengths and weaknesses in relation to the numerous stakeholders who intervene at various stages. These stakeholders may be external to the project team or the company, including customers or their representatives.
Understanding both supportive and opposing forces early in project development is crucial. It helps structure the approach, strengthen project organization, and assess viability at the outset.
In short, stakeholder analysis should be implemented very early in the project lifecycle. Early decisions can reduce risks for project development and deployment. Measuring stakeholder support at all stages is essential for project success.
Stakeholder analysis is the process of evaluating all individuals or groups—direct or indirect, inside or outside the company, including customers or even competitors—who may influence a project or initiative. The goal is to determine how supportive or resistant they are, and to define the most effective actions to keep them supportive or at least neutral.
The practical approach we recommend is described in the method 1.
There are numerous descriptions of stakeholder analysis that are useful for understanding its usage and practice. We recommend those two readings:
With regard to practical use of Stakeholder Analysis, we recommend an alternative approach that replaces the classic “interest and power matrix.” By not using a graph, this method is straightforward and better represents how stakeholders’ positions evolve.
Stakeholder analysis operates similarly to PESTLE or Porter’s Five Forces, which are used to understand the market, but in the realm of individuals and groups, whether internal or external to the company. It provides a snapshot at any point in time of the strengths and weaknesses you face from stakeholders.
There are two key questions to be answered:
A third helpful question is: “How do we ensure that supporters do not become detractors over time?”
During the project lifecycle, decisions must be made that may positively or negatively impact these stakeholder groups. How they react to these decisions and what actions should be taken to minimize their impact are important considerations.
In many projects, stakeholder analysis will evolve over time. Key supporters may become less positive as the project progresses, but the goal should be to maintain their support. Some detractors may remain negative, but efforts should be made to convert the majority to positive or at least neutral, as this will likely aid in the project’s development.
With stakeholder analysis, actions can be considered and implemented early in the project development phase to ensure higher acceptance of the project during and upon completion.
The stakeholder analysis tool is versatile. It can be used at any stage of a project or multiple times throughout. It can be done by an individual or a team, and results can be shared or kept private. Key benefits include:
Enhancing team spirit and engagement. Individuals involved in the project are stakeholders themselves. Are they supportive? What is needed to ensure their support? Asking “What does success look like?” fosters teamwork and confidence in project deliverables.
Getting to know all stakeholders. Stakeholders include customers, sponsors, management, and others inside or outside the company. This review ensures that no neutral or hidden stakeholders are overlooked. Including sponsors and management also increases chances of budgetary support.
Early identification of roadblocks. With an understanding of needs and concerns, early action can be taken. Even if detractors remain, their risks can be managed.
Action orientation. Knowing some stakeholders may resist can create frustration. The tool shifts focus toward practical actions to move them at least to neutral positions.
Discovering concerns and needs. Discussions with stakeholders reveal insights, especially internal ones. Addressing detractors’ concerns early allows risk mitigation and sometimes transforms them into allies.
Once stakeholders have been identified, the next step is to assess their current level of support and compare it with the level of support needed for project success. This method uses a simple scale to position each stakeholder and then defines the actions required to close any gaps.
Stakeholder analysis can be iterative and repeated at different stages of the project, helping the team capture changes in perception and adjust actions over time. Project team can consolidate inputs using a simple format:
For each stakeholder, their support to the project is evaluated by comparison with the necessary expected status for program success. Actions can be determined accordingly.
Steps:
Example:
In addition to evaluating levels of support, stakeholders can also be mapped using a two-axes matrix of influence (power) and interest. This method helps visualize which stakeholders are most critical to monitor and engage.
While the matrix is useful for identifying priority groups, it should not replace the actionable approach of Method 1. The most effective results often come from combining both methods—using the matrix for visualization and Method 1 for defining concrete actions.
Stakeholder analysis is widely discussed in project management literature. Here are some valuable resources that complement the approaches presented above:
PMI presentation on stakeholder analysis – Highlights stakeholder identification as a pivotal practice in project management and provides a sample list of stakeholders.
Stakeholder mapping article – Useful for understanding stakeholder mapping in social or community-based projects, with practical insights into applying the mapping process.
3D stakeholder mapping paper– Adds a third dimension (“attitude”) to the classic power–interest matrix. This complements our tool, which also allows you to capture more than two variables (for example, bubble size for attitudes).
These resources illustrate how different perspectives—power, interest, and attitude—can be combined with practical action-oriented methods to strengthen stakeholder engagement strategies.
Stakeholder analysis strengthens project planning by identifying risks, concerns, and opportunities for support. It should be applied early and revisited regularly throughout the project lifecycle.
The tool addresses the soft skills of project management, ensuring better engagement, communication, and alignment in complex environments.
Combining visualization methods (such as influence–interest matrices) with actionable evaluations ensures both clarity and effectiveness.
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Stakeholder analysis is an excellent tool to rally individuals around a project and monitor progress at key stages. It helps teams stay cohesive and aligned.
Additional tools that can be combined with stakeholder analysis include:
Brainstorming and Mind Mapping to capture perceptions and surrounding factors that may support or challenge a project.
Decision Frame In/Out Scope Tool – to validate the project boundaries before moving forward.
The following section may include tools, some free, some with a fee to support this site development. If you consider a tool should be presented in this section and is missing, please let us know at: contact@marketingdecision.org
The tool proposed here focuses on a bi-dimensional graph that captures two dimensions: one dimension being interest and the second being power or influence. These two axes allow for capturing the relative power of each stakeholder and taking actions based on presumed interactions within each category. This is exemplified, for instance, in the Wikipedia article. Such a graph is valuable, although potentially burdensome to develop due to the need for a dual-axis view, and its effectiveness depends on efficiently capturing actions and remarks. The graph itself is not the end goal.
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