What is the Stakeholders Analysis template?
Conduct an insightful stakeholders analysis session during which you’ll think strategically about who exactly your stakeholders are, what their needs are, and how you should keep in touch with them. Think about how much power they have over your project and their interest in the final product. See how they can influence your work and determine the best communication channels with you and your team.
List out all individuals who might help you succeed in your work and development process. Do it at an early stage of your project to prevent miscommunication and set the right expectations about the results. Ensure everyone involved is aligned with the objectives.
Place your key stakeholders in appropriate columns on the grid by dividing them into four categories:
- Manage closely — people who have high power and high interest — fully engage with these stakeholders and make your efforts to keep them satisfied with your work on the project.
- Keep satisfied — people who have high power but less interest — put enough work into your project to keep these stakeholders satisfied but don’t bore them with your messaging.
- Keep informed — people who have low power but high interest — keep these stakeholders in the loop and keep them informed before major issues arise.
- Monitor — people who have low power and less interest — stay in touch with these stakeholders but don’t go for excessive communication with them.
What are the benefits of the Stakeholders Analysis template?
Thanks to the Stakeholders Analysis template, you can:
- Give your projects a better shape and form by listening to your stakeholders and applying their advice at an early stage of the project.
- Allow your stakeholders to understand better what you’re working on and thus more actively support your actions when necessary.
- Eliminate the risk of veering off the course when new challenges or problems appear by keeping the key stakeholders involved from start to finish.
- Align to the constantly changing market by better navigation of your work.
- Gain powerful resources like people, time, or money with the help of your stakeholders and their networking.
How to use the Stakeholders Analysis template in a few steps?
- Start your work by identifying who your stakeholders are. Rather than entire organizations, think about specific:
– People who will be affected by your work.
– People having an influence on your project or power over it.
– People having an interest in the successful completion of your work.
- Map out your stakeholders and categorize them according to their control over your work and their interest in it on a Power/Interest Grid. Decide which stakeholders should be kept satisfied, managed closely, monitored, or kept informed.
- Discover how your stakeholders feel about your project by asking them concrete questions:
– What are your financial and emotional interests in the outcome of my project?
– What motivates you to support my project?
– What is the best way to keep in touch with you?
– What is your opinion about my project?
– Do others influence your opinion in some way?
– If you don’t feel optimistic about my project, what might help me win your support?
- Color-code your stakeholders based on their honest answers by marking them, for instance, green (supporters), orange (neutrals), and red (blockers and critics).