Video tutorial - How to complete a stakeholder analysis
This video tutorial on Stakeholder Analysis explains how to analyse stakeholders by power/influence versus interest.
Text - How to conduct a Stakeholder Analysis. First identify your Stakeholders. Mindmapping is a good way to do this
Text - Here is an example
Image - [Stakeholder Mindmap]
Text - Now you can analyse your stakeholders. A common approach is to map the interest and power or influence of each stakeholder group on a quadrant (Bryson 1995: 71 -7)
Image - [Stakeholder Analysis quadrant]
Text - Stakeholders that fit in the high influence and high interest box are key players.
Text - Stakeholders that fit in the low influence and low interest box are the least important. They aren't very powerful and they are not interested in the business or project.
Text - Stakeholders that fit in the high influence and low interest box must have their needs met as they are powerful enough to cause problems.
Text - Stakeholders that fit in the low influence and high interest box can be useful supporters so involve them in low risk areas and consult them on their interest areas.
Text - Once you have mapped your stakeholders you can focus your efforts on the highest priority groups while providing sufficient information to keep the less powerful groups happy.
Text - Lets look at an example engagement strategy based on the interest/influence stakeholder analysis
Text - Least important - inform via mailshots, newsletters, website. Spend the least time on this group, but aim to increase their interest
Text - Show consideration - make use of interest through involvement in low risk areas. Keep informed and consult on interest area, potential supporters/goodwill ambassadors
Text - Meet their needs - engage and consult on interest area, try to increase level of interest, aim to move into right-hand box
Text - Key players - Focus efforts on this group, involve in governance/decision making bodies, meet face to face and interview to get their views, engage and consult regularly
Text - Thank you for watching this guide to stakeholder analysis, for more visit http://www.stakeholdermap.com/stakeholder-analysis.html
Stakeholder Analysis resources and further reading