Stakeholder Analysis Template

Effectively managing these stakeholders is key to delivering a project on time and meeting expectations. A stakeholder analysis can help you identify, assess, and strategize how to engage with each group.

What is stakeholder analysis?

Stakeholder analysis helps you meet expectations and complete projects on time by identifying individuals, groups, or organizations with a vested interest in a program or process. Through this analysis, stakeholders are prioritized based on their influence over a project, helping you understand how to effectively engage with them throughout the project's lifecycle.

When to use a stakeholder analysis template

It's best to conduct a stakeholder analysis early in the project to gain critical insights and secure essential resources. Engaging stakeholders early ensures their buy-in and helps avoid potential conflicts that could impact the timeline. However, even if you don't start with stakeholder analysis, it's never too late to align and communicate with your stakeholders to drive project success.

Create your own stakeholder analysis

Making a stakeholder analysis is simple with FigJam’s collaboration platform. Follow these steps to create and share your own:

1. Start identifying stakeholders

   Think about all stakeholders relevant to your project. Use the 2x2 stakeholder matrix to divide stakeholders by categories such as High Power/High Interest, High Power/Low Interest, Low Power/High Interest, and Low Power/Low Interest. List them without worrying about the exact placement just yet. Stakeholders can include organizations, teams, and individuals.

2. Group your stakeholders by category

   Narrow down the list by grouping stakeholders by interest or influence. For example, those concerned with financial aspects or responsible for approvals. Organizing them in this way helps streamline communication and focus on the right interactions.

3. Prioritize stakeholders

   Now, plot stakeholders on the matrix based on their interest and influence. Determine the best approach for each stakeholder: should they be kept satisfied, actively engaged, informed, or just monitored? Consider drawing connections between stakeholders with interdependencies. Keep in mind, these priorities may shift as the project progresses.

4. Analyze your list of stakeholders

   Once the matrix is complete, review it with your team. Discuss what each stakeholder’s role will be, how often to communicate with them, and what resources are needed from them. Define their motivations and how you can ensure their active participation.

This process ensures efficient stakeholder management and helps your project run smoothly.

What is the purpose of a stakeholder analysis?

The purpose of a stakeholder analysis is to improve communication and alignment with your stakeholders, ensuring that project timelines are met and expectations are properly managed. It helps you assess the influence, interest, and involvement of stakeholders to better navigate their needs. FigJam’s stakeholder analysis template makes it easy to keep track of all key individuals and groups relevant to your project.

What are the 4 steps in the process of stakeholder analysis?

The four key steps in stakeholder analysis are:

• Identify your stakeholders.
• Group stakeholders by category (interest, influence, etc.).
• Prioritize and plot them on the stakeholder analysis matrix.
• Analyze your list with your team to determine a communication and engagement plan.

By completing these steps, you’ll have a clear understanding of each stakeholder’s role, how to communicate with them, manage their expectations, and address dependencies to avoid delays.