Stakeholder analysis is a structured process for identifying individuals or groups who have an interest in or influence over a project, and assessing their level of impact, interest, and engagement needs.
Stakeholder analysis is one of the key steps to establishing support when starting a project.
Every project has individuals who have some sort of interest or will be influenced by it - the project stakeholders. Failing to engage with them can have a direct influence on the project’s outcomes.
To engage with stakeholders successfully, you need to know exactly who they are. That is where stakeholder analysis comes in.
In this post you’ll learn:
- What is stakeholder analysis is
- Why stakeholder analysis is important
- How stakeholder analysis is used in project management
- How to carry out stakeholder analysis
- Which templates and tools you can use
What is stakeholder analysis?
Stakeholder analysis is the process of identifying and collecting information about individuals or groups impacted by or able to influence your project.
Modern stakeholder analysis increasingly involves co-creation, where stakeholders actively participate in shaping project goals and outcomes, and digital tools that streamline communication and engagement.
Conducting a stakeholder analysis will enable you to identify all your stakeholders as well as their needs and expectations.
Why stakeholder analysis is important
Every stakeholder has a different perspective on a project and on the change it is intended to deliver.
Stakeholder analysis helps you:
- identify key stakeholders
- understand stakeholder needs and expectations
- recognise supporters and potential opponents
- plan appropriate engagement and communication strategies
With this understanding, you can allocate time and effort more effectively, reduce risk, and address issues before they affect project outcomes.
Benefits of stakeholders analysis
Conducting a stakeholder analysis supports you in:
- Being inclusive
Ensure all individuals and groups affected by the project are identified and considered. - Engaging effectively
Group stakeholders to plan targeted communications tha improve positive engagement. - Promoting understanding and alignment
Build trust by clarifying project goals and benefits. - Anticipating issues
Identify potential problems early and plan mitigating actions. - Gaining insights
Capture stakeholder perspectives that can improve decision-making and outcomes. - Building trust
Demonstrate transparency and accountability by incorporating stakeholder feedback.
Stakeholder analysis in project management
Projects that lack engagement with influential stakeholders often struggle.
If a project is already in motion and is facing some trouble, stakeholder analysis can help reassess issues and identify corrective actions.
Ideally, stakeholder analysis should begin in the early stages of a project to reduce the risk of failure. It should also be repeated throughout longer projects, as stakeholder interests and influence can change over time.
The frequency of analysis should reflect the duration and complexity of the project.
How to do a stakeholder analysis
Stakeholder analysis consists of three stages:
- identify;
- categorise;
- prioritise.
Once complete, you will have the insights needed to plan communications and create a stakeholder engagement plan.
In practice, stakeholder analysis is rarely a one-off activity. As projects evolve, stakeholders change, priorities shift, and engagement history becomes just as important as initial categorisation.
This is why many organisations use stakeholder management software to keep stakeholder information centralised, track influence and engagement over time, and ensure analysis stays connected to day-to-day decision-making.
1. Stakeholder identification
The first step is identifying who your stakeholders are. This includes anyone who is impacted by, has an interest in, or can influence your project.
Stakeholders may include individuals, groups, or organisations such as:
- employees
- clients and investors
- suppliers and partners
- regulators and government bodies
- Media
- local communities and residents
Ways to identify stakeholders include:
- brainstorming with your team and other departments
- reviewing stakeholders from past projects
- consulting colleagues about overlapping initiatives
- researching similar projects in the market
When identifying stakeholders, consider factors that may influence their perspective, such as:
- age
- location
- values
- Income
- political, financial, or business interests
Engaging directly with stakeholders to understand their expectations and concerns will improve the quality of your analysis.
2. Stakeholder categorisation
Once stakeholders are identified, they should be grouped based on shared characteristics, interests, or influence.
Two commonly used models are:
The Interest/Influence Matrix
- assesses stakeholders based on their level of interest and influence
- helps determine appropriate engagement approaches
Stakeholder Analysis example using the Interest/Influence Matrix:
The Salience Model
- categorises stakeholders using power, legitimacy, and urgency
- identifies eight stakeholder types
These models support stakeholder mapping and help prioritise engagement.
You can learn in more detail about both categorisation models and how to apply them in our Guide to categorising stakeholders.
Stakeholder types
Stakeholders generally fall into one of three categories:
- Key stakeholders
Individuals or groups with high influence and a direct impact on project outcomes. - Primary stakeholders
Those most affected by the project, either positively or negatively. - Secondary stakeholders
Individuals or organisations indirectly affected, with lower levels of interest or influence.
3. Stakeholder prioritisation
Not all stakeholder needs can be addressed at the same time, making prioritisation essential.
Stakeholders may require different levels of stakeholder engagement:
- Inform: provide timely and relevant information
- Consult: seek feedback and input
- Collaborate: involve stakeholders in decision-making
Priorities will vary depending on project scope, timelines, available resources, and stakeholder expectations and concerns.
Stakeholder analysis template
Here’s a stakeholder analysis template you can follow to keep track of your identified and assessed stakeholders:
Download your template copy here: 
Stakeholder analysis tools
Templates in Word, Excel, or PowerPoint may be suitable for small projects with limited data.
For more complex projects, stakeholder analysis tools provide:
- centralised stakeholder records;
- visual stakeholder maps;
- real-time insights;
- a secure environment for your data.
Streamline your stakeholder analysis
Stakeholder analysis is an essential component of effective stakeholder management.
A comprehensive stakeholder analysis tool, such as Tractivity, supports the analysis, mapping, and engagement of stakeholders in one place, helping teams across departments and projects manage data securely and track engagement over time.
Get in touch for a live preview of our stakeholder engagement system and discover a better way to analyse and engage with your stakeholders.
