HKSM
Stakeholder Analysis
A method for deliberately collecting and evaluating both numeric and descriptive data to identify whose interests, influence, and needs must be considered throughout the project life cycle.
Key Points
- Collects quantitative and qualitative information about people and groups affected by the project.
- Assesses power, interest, influence, impact, and support or resistance levels.
- Prioritizes stakeholders and guides tailored engagement and communication strategies.
- Is iterative and updated as the project context and stakeholder positions change.
Example
A project manager launching a new CRM interviews department heads, surveys end users, and reviews org charts. The team maps stakeholders on a power-interest grid, flags the sales VP as high power-high interest, and creates a targeted engagement plan to secure sponsorship and timely decisions.
PMP Example Question
Which tool should a project manager use to identify all affected parties, assess their power and interest, and plan tailored engagement strategies?
- Stakeholder analysis
- Stakeholder register
- Communications management plan
- RACI matrix
Correct Answer: A — Stakeholder analysis
Explanation: Stakeholder analysis evaluates stakeholders using quantitative and qualitative data to determine influence, interest, and engagement needs. The register documents the results; the plan outlines communications; a RACI clarifies roles.
