Stakeholder analysis is a technique vital to winning people and is crucial for the planning and execution of a project. Stakeholders are important in business and mega projects. This stakeholder analysis template lets you decide the real stakeholders, their impact, and their role in working.
Stakeholder Analysis Template Excel
The benefit of stakeholder analysis to any organization includes gathering opinions at the initial stage of the project which is vital to develop a communication plan. The stakeholder’s main goal is to build a strong and cooperative relationship between stakeholders and the project manager to complete the project successfully.
Stakeholder analysis (stakeholder mapping) is an important step to start a new project. It impacts individuals, community leaders, groups, and other organizations. Stakeholders can be external as well as internal.
Stakeholder analysis templates are helpful to identify the stakeholders for your project, on the basis of their influence level. While creating a stakeholder analysis template for reliable results, insert this useful and productive information in your template.
Stakeholder Analysis Template Features
- First, identify and write down all the stakeholders. Minor and major stakeholders should be mentioned here. A stakeholder can be any group or individual.
- List down the key member if the stakeholder is a team or group and find their influence and shares in the project in percentage (%).
- Check whether you can fulfill their needs or not.
- If your project includes customers then mention them as stakeholders.
- After listing down all stakeholders, define their types whether they are reviewers, providers or output deliverers, etc.
- By completing these steps, you can prioritize your stakeholders.
It is not important to have a long list of individual stakeholders. All stakeholders cannot be in your favor because some of them can have different opinions.
Some may be interested in your work while others are not interested, some have powers to block you or make you grow. So, use stakeholder analysis templates to contact your key personnel.
You should use MS Excel in all such cases to find more exclusive and influential results for your project. The stakeholder analysis template helps you in controlling any sort of database on its utility and implied functions of Excel.
Why You Must Use Stakeholder Analysis Excel Templates
Making a business decision is not an easy task but having experts can handle these problems. The stakeholder analysis templates are important and specially designed to help you to contact a vital person.
All of these templates include defined headers, sections, and areas that can help you to find out the most experienced and professional stakeholders so they can ensure the smooth working of the current business or project.
You can download and customize stakeholder analysis templates to create a balance between a stakeholder and the project manager. You can also edit and replace the headers and sections according to your preferences to ensure that your project runs successfully.
By specifying the purpose of use you can find hundreds of free designs of stakeholder templates for Excel, and you can customize them for your personalized use.
Steps To Conduct Stakeholder Analysis
There are 3 steps that we follow to complete this analysis;
- Identification of Stakeholders
- Setting Priorities among Stakeholders
- Understanding with Stakeholders.
Identification of Stakeholder: As we know, an individual or a company that can affect our project or business is called a stakeholder. In this step, we identify those people or organizations that have the power or other resources to affect our project.
Setting Priorities: Now the most important step is to set priority among the stakeholders. We can set this priority by evaluating which stakeholder is most important for our project or investing more capital than others. In some cases, we can set our priority level according to our project requirements.
Understanding with Stakeholders: This step also has core value for any project, so we should make professional understanding with our stakeholders that are investing in our project in the form of time, services, capital investment, etc. We can a strong bond of professional relationship with our stakeholders by proper planning, meetings, discussion of their interests, etc.
However, we need to make a trust bridge between stakeholders too that will boost our project progress. We can do this task by asking the following question;
- Who are the stakeholders?
- What is their profile?
- What are the interests at stake?
- What are the relationships between each stakeholder?
- Who is ready
- Opposed to change?
Stakeholder Management With Other Templates
In stakeholder management plan, their analysis plays a core role in this process because it helps us to set priorities among them. However, here are some project management documents that are recommended to conduct this analysis.
After conducting an analysis of stakeholders, it’s time to set up RACI (roles and responsibilities). As we know that RACI stands for responsible, accountable, consulted, and informed, so, we set them among all stakeholders according to their interest in the project.
In project planning, a communication plan is also included in core planning, because it defines communication hierarchy within the organization and provides a proper channel to communicate with outside the organization. Basically, CPT provides you with directions to follow for the purpose of communication.
To share the latest development on a project or any updates you can use the PSR template that will assist you to show progress. You can say, it’s a project progress dashboard that you can easily use in your meeting briefing and presentations.