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What do you understand by the phrase “stakeholder analysis”? Attempt a stakeholder analysis of an organisation that you are closely associated with.
Introduction
Stakeholder analysis is important for successful implementation of projects and/or strategic activities within any organisation. It is used to analyse the stakeholders in order to understand them and classify them according to their power, influence and interest. Stakeholders are people who have an interest in a commercial entity including those within the organisation and outside. These include the boss, senior executives, customers, suppliers, government, your co-workers, the team and others. All these people are important in the implementation and success of strategy.
The tool stakeholder analysis is used to: -
• Identify people or groups and institutions that will influence your initiative
• Anticipate the kind of influence, positive or negative, these groups will have on your initiative
• Develop strategies to get the most effective support possible for your initiative and reduce any obstacles to successful implementation of your program.
The following are steps that may be followed in using stakeholder analysis:
INDENTFY THE STAKEHOLDERS
There is need to think of all people who are to be affected by the project or strategy, those who have influence or power over it or have an interest in its successful or unsuccessful conclusion. Stake holders for Delta corporation include:-
 Government departments( Zimra, RBZ, Min of industry trade and commerce, ministry of sports and culture)
 Municipal authorities
 Standards association
 Customers
 Employees
 Management
 Trade union
 National employment council
 Directors and shareholders
 Suppliers
 The community and the public
 My family and extended family
 &...
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...nbsp; Who else might be influenced by their opinions? Do these people become stakeholders in their own right?
Talking directly to the stakeholders will help answer most of these key questions. For IT projects meeting the key stakeholders in a forum to review progress on the project is key to its success. Therefore a well drawn up project plan will ensure that there is enough representation of the stakeholders at the regular project review meetings.
Identify those stakeholders that may try to bring to a halt or slowdown the successful implementation of the project.
CONCLUSION
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When determining whether this is a feasible project we need to take into consideration, which stakeholders could negatively be affected and what will The Home Depot do to minimize this impact. It is important that positive outcomes surpass negative outcomes, otherwise, this project will not succeed. The textbook states, “"The importance of aligning projects with organization strategy cannot be overstated.” This quotation means that above all, this project must relate to the mission strategy of the organization in order to maintain the interests of the stakeholders. Without stakeholders on board, this project would not be possible. The Home Depot’s actions in completing this project needs to be sensitive to any group that affects or can be affected because The Home Depot’s reputation is always being evaluated.
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IT projects require buy-in from stakeholders. There are several reasons to get buy-in before starting an IT project, some of which include investment during development and commitment to transition away from old processes to the new system upon completion. Unilateral IT projects often lack the level of investment and commitment required for a successful IT project. This becomes even more critical as the scope and size o...
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Stakeholder, plays an important role in decision making progress whom can provide the new information, some extra solution, the benefit in other degree, and make the outcome. Indeed, stakeholder’s joining can bring a lot advantage to the company, but before we discuss the strategies to make sure their continuous involvement and commitment, let me explain the reason why they not want to join in or why they lost the passion to have the commitment.
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The first step in any project is developing a project management oversight plan that defines expectations, outcomes, and establishes a timeline. Key organizational stakeholders and influencers are interviewed to identify the issues and concerns expected to be resolved by the project. The key issu...
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With the help of the project team, the project is executed successfully. The second type of stakeholders are the the upper management. The upper management are the parties who select the project manager and the project team. They are also involved in different types of decisions that are made during a project. They also give the green go ahead to the project manager to go with the project execution decisions that were planned on. Lastly, there are the other outside stakeholders. These can include any investors, customers, and/or the government. These parties are someone outside from the company but they are effected by the project as well. Investors have financial tie up with the project, the customers may want quality goods for a reasonable price, and the government want the project to be executed according to the laws of the land. Thus, it is very important for
Stakeholder can be defined as “any group or individual who can affect or is affected by the achievement of the organization’s objectives”. This theory focuses on wider aspect rather than only focusing on just the shareholder. Stakeholder theory is a fundamental theory about how business works at its best and how it could work. It is concerning on the value creation and trade on how to manage a business effectively.
Task two will be looking at what is a stake holder and will describe how a stakeholder management strategy would be constructed while sticking to company policies and procedures for this project. Also this document will include a brief description on the benefits from a stakeholder management system on the project.