Good news! The only reason stakeholder analysis might seem difficult is because the topic appears in Chapter 13 of the PMBOK guide. By now, you probably don’t even want to read the Project Stakeholder Management chapter. Don’t worry though — once you see it, stakeholder analysis is easy, and you won’t have to spend too much time on it.

How to conduct a stakeholder analysis

Your job in the Identify Stakeholders process is to use the inputs (the project charter, procurement documents, enterprise environmental factors, and organizational process assets) to create the stakeholder register, your only output of this phase.

The Tools & Techniques of the Identify Stakeholders process are:

• Expert judgment,
• Meetings,
• and stakeholder analysis.

We focus on the latter here, because it is the most complex. Stakeholder analysis involves gathering information to analyze your stakeholders. Here are some of the models you need to know for your PMP exam:

1. Power/interest grid – shows project authority & interest in project outcomes
2. Power/influence grid – shows project authority & active involvement in project
3. Influence/impact grid – shows active involvement & ability to enforce changes
4. Salience model – defines groups based on project authority, need to respond urgently, and appropriateness of involvement in the project (PMBOK, 396).

Notice that the PMBOK guide provides strategies for how to manage each type of stakeholder. These strategies are based how much power and interest a stakeholder has in the project.

PMP stakeholder analysis practice

Let’s try it out! You, the project manager, are overseeing construction on a new ice cream store in town. Your stakeholders include:

A. Your supportive but not actively involved CEO
B. Neighbors who could be bothered by construction noise (but will enjoy ice cream!)
C. The local zoning board that is notoriously difficult
D. An analyst from the finance department who will provide periodic reports on the budget

Next, assign a stakeholder to each area of the grid. (No peeking — don’t scroll down until you’ve tried it yourself!)

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• Your CEO is high power and low interest, so you want to keep her satisfied. That makes sense — who doesn’t want to keep their CEO satisfied!
• The zoning board has high power and high interest in your project. You know from your prior experience that the board needs to be managed closely.
• Your neighbors may be interested and vocal, but you have found that they aren’t particularly powerful. Keep them informed.
• Finally, your financial analyst needs to be monitored but you should not spend much of your effort on a stakeholder who is low power and low interest. (Make sure to say thanks for the reports once in awhile!)

What questions do you have about stakeholder analysis? Share in the comments below.