A stakeholder analysis is important and a key piece in project management process. A Stakeholder analysis is a project management tool used to identify the projects stakeholder, identify issues and how it will impact the project.It is used at the beginning of the project to better understand the need of each stakeholder and their primary requirements (Bottorff, Hoory, 2022). The advantage of this so the everyone who is involved with the project knows what role they play in the project. This also done so that there are no toes getting stepped on during the process or that only the right people are in the know about certain things. By determining the stakeholder influence and interest you are able to see how much influence they have in the company and what their interest is.

There is also some drawbacks on the stakeholder analysis that can lead to some issues. There can be stakeholders that add more deliverables or push back deadlines which in turn can delay the project (Martins, 2024). There can also be a issues when you do not include stakeholders in the identification phase or forgot about stakeholders who have high interest in the project (Martins, 2024).

Robert

Bottorff, C., Hoory, L. (August 7, 2022) What is a Key Stakeholder Analysis? Retrieved from. https://www.forbes.com/advisor/business/what-is-stakeholder-analysis/

Martins, J. (February 22, 2024) What is Stakeholder Analysis and Why is it Important? Retrieved from. https://asana.com/resources/project-stakeholder

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