Video tutorial - How to complete a stakeholder analysis

This video tutorial on Stakeholder Analysis explains how to analyze stakeholders by power/influence versus interest.

Video transcript

Text - How to conduct a . First identify your Stakeholders. Mindmapping is a good way to do this

Text - Here is an example

Image - [Stakeholder Mindmap]

Text - Now you can analyze 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 https://www.stakeholdermap.com/stakeholder-analysis.html

Stakeholder Analysis resources and further reading