![]() ![]() The benefits of performing a stakeholder analysis include gathering opinions at an early project stage to help ensure buy-in and get insight for project improvements, acquiring resources for project support, clearly communicating the benefits of a project to stakeholders, and understanding stakeholders in order to anticipate reactions and make project adjustments. A stakeholder analysis first identifies the individuals, groups, and organizations who have a stake in a project or program, prioritizes the stakeholders based on their level of interest in and influence over the project, and finally seeks to understand more about the key stakeholders in order to engage them with an effective communications plan. It involves developing relationships with project stakeholders in order to identify objectives and address their expectations. Stakeholder management is crucial for project planning and execution.
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