Step 2: Identify all key stakeholders

It is critical that you identify the key individuals who are project decision makers or influencers.

These individuals are not always readily apparent. For instance, many projects are actually funded by a client’s operational unit whose buy-in is needed both in the requirements phase and to obtain delivery acceptance.

In addition, internal company support organizations play a critical role in ensuring your success. Your efforts to effectively communicate with them in a timely and responsive manner will pay huge dividends.

A stakeholder analysis matrix, such as the one shown below, can be used to assess how much and what kind of attention you should pay to various stakeholders.

More complicated programs with numerous stakeholders with conflicting interests can be further analyzed using an influence map. This is a diagram that shows the relationships between every key player.

A Project Authority Matrix is a useful management tool to document the role each stakeholder has in determining your project’s success. This example illustrates a simple matrix for a small subset of project stakeholders. This matrix should include everyone you will communicate with during the execution of your project.

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