This post is for everyone who want to learn about what is involved when you perform a stakeholder analysis as a Business Analyst on a project.

Stakeholder Analysis involves identifying and assessing the influence and interests of individuals, groups, or organizations that can significantly impact or are impacted by the outcome of a project or business decision. It's essential for ensuring effective engagement and fostering positive relationships with these stakeholders.

In this video blog we cover the following Stakeholder Analysis Techniques:

1. RACI Model: This technique clarifies the roles and responsibilities of stakeholders in a project. RACI stands for Responsible, Accountable, Consulted, and Informed. It’s a matrix that maps out each task, milestone, or key decision in a project, along with which stakeholders are Responsible for completing the task, who is Accountable for the overall completion, who should be Consulted during the process, and who needs to be Informed about the decisions.

2. Stakeholder Matrix (Power/Impact): This tool helps in prioritizing stakeholders based on their power (influence or authority in a project) and impact (the extent to which they can affect the project’s outcome). It's a two-dimensional grid with 'power' on one axis and 'impact' on another, helping in visualizing which stakeholders require more focus and management.

3. Onion Diagram: The Onion Diagram is a way of viewing a system or an issue in layers. Each layer represents a different category of stakeholders, starting from those most directly involved in the core issue and moving outwards to those less directly involved. It helps in understanding the complexity of stakeholder relationships and their varying levels of influence and interest.