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THIS SESSION ANSWERS THE QUESTION '' What is Stakeholder Analysis''?

Session 2. Pg 5 of  6

Status: 69% Completed

Welcome to this session during which we will discuss stakeholder analysis and management. This relates to chapter 6 of the guide.

Understanding stakeholders, their perceptions about the project, their power and their interest, be it positive or negative is essential if we are to be successful.

Stakeholders can be described as:
“anyone who has an interest in, or may be affected by, the issue under consideration”.

By the end of this session you will be able to:
• Identify stakeholder categories using the stakeholder wheel
• Describe the Power/Interest grid technique to analyse stakeholders and the resulting stakeholder management strategies, and
• Describe stakeholder responsibilities using RACI

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Stakeholders are identified right at the start of the project using a variety of techniques such as brainstorming, reviewing the output of an environmental study using PESTLE.

It’s important to remember that stakeholder management is an ongoing process as shown on screen.

Once we have made a list of stakeholders it is usual to assess their power or influence and their interest and whether they are for or against the initiative.

There are many models used for this but we suggest using a 3 x 3 grid as shown on screen.

Please take a few moments to review each stakeholder grouping to review the typical management actions by clicking each area shown on screen and when you’re ready to move on click continue.

It’s important to remember that we have placed stakeholders in the grid in a subjective way and there may well be some who don’t readily fit into a particular category.

Additionally, remember that individual stakeholders may have low power and high interest but if they form a focus group or similar their power will rise significantly.

This is especially relevant when the stakeholder is negative.

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In addition to the management strategy it is useful to list the business products and the extent of the involvement of the stakeholders.

A RACI chart – more formally known as a ‘linear responsibility matrix’ – lists the main products/deliverables down the side and the various stakeholders along the top. Where a stakeholder intersects with a product, we indicate their involvement using one of the RACI categories.

RACI stands for:
• Responsible – the person or role responsible for creating or developing the deliverable or performing the task
• Accountable - the person or role who is answerable for the quality of the deliverable or task
• Consulted – the person or role who provides information relevant to the deliverable or task.
• Informed – the stakeholders that are informed about a deliverable or task, though they may not have contributed directly to them.

Please take a few moments to review the example of RACI shown on screen now.

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