The implementation of companies' projects is determined by many factors and people, including stakeholders. After all, it is good to know who is working on a given project, what impact it has on it and whether it can help to achieve success. Who exactly are the stakeholders and what is their role in the endeavors that the organization conducts?
Kim Are there stakeholders?
The concept of stakeholders (eng. Stakeholders) first appeared in the 1980s by R. E. Freeman. Today it is known in relation to project management and has an invaluable impact on the success or failure of undertakings. Stakeholders are individuals or individuals who have real impact on a given project and its course. This may be a person, group or organization associated with the enterprise, interested in the results of the work and activities of the company.
Stakeholder analysis — how to do it?
Stakeholders can be divided into two groups: internal and external. In the first of them there are people involved in the project — taking an active part in it, having a great influence on its course. Internal stakeholders include:
- the owners of the enterprise,
- representatives of the board of directors,
- product owners,
- developers, programmers, specialists,
- all employees of the company.
The second group is external stakeholders, that is, people who have an influence on the course of the project, but are not related to the company that deals with the creation of the solution. They are:
- customers who use the product,
- service providers,
- media,
- organizations and institutions,
- competition.
Creating a Stakeholder Map
Identification of stakeholders (and. stakeholder map) is an excellent method for achieving success in a project. The participation of the most important people in the project means their support at every stage of the operation. Without them, it would be more difficult to define expectations, and changes would certainly have to be made. To systematize the role of individuals — it is worth creating a map that depicts their goals in the processes, to carry out research with users and to know the characteristics of the stakeholders.
Identification
The most important step in the analysis of stakeholders is their identification and creation of an inventory of all those who are related to the project and have an impact on its course and implementation. Of course, you should also know their role and interests and know:
- Who cares most about the success of the project?
- Who can most influence the project?
- Who can be responsible for approving or rejecting a project?
For this purpose, you can create a mind map, use reports or organize a brainstorming session.
Analysis (Stakeholder Map/Stakeholder Matrix)
Stakeholder mapping is both a process and a tool that allows you to categorize people who are indirectly or directly involved in a project. It allows, among other things, to determine the relationships that occur between them, to combine into similar groups, to specify their interests, role in the organization, goals and expectations.
In order to be able to carry out an analysis of people who can have a real impact on the course of the project — it is best to create a stakeholder map (stakeholder matrix). In other words, it is a table with four areas, located on an axis. The vertical is to determine the influence of the individual on the project, and the horizontal - the interest. The stakeholder map is basis for creating a persona — a representative Stakeholder groups. It makes it easier to define a strategy to manage them.
Strategy and its implementation
At this stage, it is already known who the stakeholders are, what their attitude and impact on the project are. The next step is to determine how to satisfy them, as well as determine the type of cooperation. It is also permanent monitoring the situation, taking care of relations with stakeholders and controlling each area, crucial from a business point of view.
What is the stakeholder mapping process like?
As mentioned earlier, stakeholder mapping involves creating a board with 4 areas, taking into account the level of influence of the people concerned on the product or service and their interest. This is shown on the axis, divided into:
- the magnitude of the level of impact on the service or product,
- the size of the level of interest in the service/product.
Based on this, stakeholders should be allocated to one of the following areas.
Close cooperation
In the upper right area there are people who have a lot of influence on the solution and are very interested in it. Stakeholders in this group are the most important — so they need to be involved and cared for. Therefore, it is worth thinking carefully about an effective way of communicating with them.
Keeping Satisfied
The upper left area is represented by stakeholders who have an influence on the course of the project, but their interest is at a fairly low level. So you need to be sure that their opinion is taken into account and ensure that you are satisfied with the progress of the work.
Keep up to date
The lower right area is made up of people with a low level of influence and high interest. While they can be helpful, they have no influence on key decisions. Stakeholders from this group should be involved in the progress of the work.
Monitoring
In the lower left area are stakeholders with low levels of both interest and influence. While this group should be monitored and informed of progress, it is not necessary to focus too much on it.
Examples of Stakeholder Maps
Stakeholder analysis can be done in several ways. A good move is to choose the methodology for the goals set by the company. How do I create a good stakeholder map? Templates, created specifically for this purpose, can greatly facilitate the process.
Among the models of stakeholder classification, the following can be distinguished, among others:
- degree of control and benefit matrix — grouping stakeholders according to their rights and level of interest in the project results,
- matrix of degree of control and influence — grouping stakeholders according to their powers and level of involvement in the project,
- matrix of impact and changes — grouping stakeholders according to their commitment to the project and the possibility of making changes to the project,
- Significance model — grouping stakeholders according to controllability, validity and appropriateness of involvement in the project.
Benefits of Stakeholder Mapping
The stakeholder map allows you to design and optimize the solution so that it meets the expectations of everyone involved in the creation of the project. Enables organizing the goals of the organization and choosing the optimal methods for their implementation. This ensures that the efficiency and efficiency of services is maximized.
The stakeholder map is most commonly used during:
- creating new products/services,
- Optimize solutions that already exist,
- introduction of new products to the market.
It can also be used:
- to introduce changes in the communication strategy, which will facilitate reaching the target group,
- in sales projects,
- in employer branding.
summary
Issues Customer Journey, Customer Experience, Target Groups and others — are extremely important in business. They put the user and their needs first. Although their expectations are the most important — they are not the only determinant of the success of individual projects.
Analysis and characterization of stakeholders is a check of the functioning of the enterprise on a larger scale. Allows you to take into account the needs of all those who are involved in the venture, which translates into its success.
