Top 5 Stakeholder Management Techniques for Business Analysts 

Stakeholders are the core of any initiative. No initiative is going to be successful without active stakeholder involvement. Business analysts need to identify and analyze stakeholders affected by a proposed initiative or share a common business need, level of decision-making authority, authority within the domain and organization, attitude/ interest towards change, and business analysis work.

Stakeholder Management Technique #1 Stakeholder lists

Brainstorm and interview to generate a stakeholder list. An exhaustive stakeholder list ensures that important stakeholders and groups have not been overlooked. Minimizes risks of missing out on requirements.

Since stakeholders are the MOST important source of requirements, it is a best practice to maintain a stakeholder register (also known as Stakeholder List). IT Business Analysts MUST identify and list all potential stakeholders for a project. A stakeholder list lists potential stakeholders for IT Business Analysis. Usually, stakeholder identification begins with suggestions made by the Sponsor or by Domain SMEs. For a project, there can be a large number of stakeholders.

Stakeholder registers should capture:

• Stakeholder name

• Type (Internal / External)

• Category (Primary / Secondary)

• Function / Role

• Designation

• Contact details.

• Area and expertise

• Location

• Time availability

• Criticality

• Stakeholder’s objectives

• Expected contribution.

• Current contribution

• Interventions needed.

Stakeholder Management Technique #2 Stakeholder maps

Stakeholder maps represent the relationships of stakeholders to solutions and to one another. The 2 common stakeholder maps are the Stakeholder matrix and the Onion diagram.

Stakeholder matrix: Maps level of stakeholder influence against the level of stakeholder interest/impact. 4 quadrants are:

Onion diagram: Levels of stakeholder involvement with solution/project/process.

Stakeholder Management Technique #3 Responsibility (RACI) matrix

RACI is an acronym for Responsible (R), Accountable (A), Consulted (C), and Informed (I). The RACI matrix is extremely valuable for documenting and communicating the roles and responsibilities of stakeholders toward various deliverables.

Stakeholder Management Technique #4 Personas

A persona is a fictional character that depicts the way a typical user interacts with a product. Personas are a powerful technique to keep the user’s perspective while developing or modifying any product features.

Stakeholder Management Technique #5 Stakeholder Charter

A stakeholder charter is a tool used by organizations to ensure that all stakeholders’ interests and needs are considered when making strategic decisions. The charter provides a framework for analyzing and incorporating the perspectives of all stakeholders into decision-making processes. It is important to note that the stakeholder charter is not a static document; rather, it should be updated on a regular basis to reflect changes in the organization’s stakeholder landscape.

The usefulness of Stakeholder Management Techniques

• Identifies stakeholders for business analysis.

• Helps to engage all stakeholder groups.

• Assist in analyzing stakeholders and their characteristics.

Limitations of Stakeholder Management Techniques

• Influence and interest assessment can be complex and risky.

• Some may not feel the need for it in ongoing projects.