As we mentioned in benefit 1, key stakeholders have the potential to impact your project negatively or positively, so identifying them early on and building relationships from the start is crucial. So, understanding their perspectives early on can help fill in project gaps and potentially lower risks.
Learn more about engaging with these stakeholder engagement tips! Benefit 5: Stakeholder mapping h elps bring your team together. A mapping exercise is best completed with your entire team. W orking together helps ensure everyone is on the same page from the very beginning , which is an essential ingredient in effective stakeholder management! Content Marketing Manager at Miro. Anna has written about experience design, product development, and workshop facilitation.
She has been working in distributed teams for three years, and she is passionate about helping these teams to succeed. Stakeholder mapping is the visual process of laying out all the stakeholders of a product, project, or idea on one map.
The main benefit of a stakeholder map is to get a visual representation of all the people who can influence your project and how they are connected. Sometimes, people confuse stakeholders with shareholders.
The number and the roles of stakeholders may vary depending on the type of product you are working on. Here is a list of potential stakeholders for this situation:. Starting a new project will also need stakeholders internally. Here is how a list of stakeholders might look like:.
Each product or project has internal and external stakeholders, and drawing a clear line between the two will help you set the right priorities and find the approach that works for your specific situation.
Internal stakeholders are people on your team who are participating in building your product or delivering a project. Their level of engagement may vary but they all have an influence because they are a part of your organization. Here is how a list of internal stakeholders might look like:. Here is how a list of external stakeholders might look:. Depending on the complexity of the project or a product, you can have just a couple of stakeholders for a small project or dozens of them if the project brings a big change to your organization.
This allows you to easily see who can influence your project, and how each person is related to the other. Therefore, you need answers to the following questions regarding who you should:. Usually, when you involve a diverse group of stakeholder from the start, they will help you create the best outline and plan for your project that will set it up for success.
However, at times, you might think a certain stakeholder has a high level of influence in an engagement. But, in reality, they may actually not! Hence, identifying and gauging the interest and influence levels of stakeholders is critical for stakeholder prioritisation.
Analysing stakeholders, grouping them based on their posture , and understanding their concerns will also help target your communications and engagement strategy. If you need a tool for stakeholder analysis, you may find mind map very useful. A mind map is a diagram that represents words and ideas linked to and arranged radially around a central key word or idea. On the other hand, stakeholders having a high level of interest need to be merely kept informed of the project status.
Mapping of shareholders is a visual exercise. You can manually map the stakeholders or use a software to perform the action. Once you have fully mapped the stakeholders, you need to create an action plan on how to engage with them. Stakeholder mapping is essential for the success of a project. The fact is that most projects involve a large number of stakeholders. When you have mapped the stakeholders, it will help in better managing their expectations.
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