Guide - Stakeholder Identification

What is Stakeholder Identification?:
Stakeholder Identification is a critical initial phase of project stakeholder management, during which an organization identifies individuals or groups who have a vested interest in the outcome of the project. These stakeholders can include internal or external entities such as team members, customers, suppliers, shareholders, etc.

Why is Stakeholder Identification Important?:
Identifying stakeholders at the beginning of a project ensures that their relevant interests, expectations, and potential impact on the project are considered. This promotes constructive stakeholder engagement and reduces potential risks or alterations further down the line.

How does Stakeholder Identification work?:
Stakeholder Identification generally works through brainstorming sessions, interviewing, or utilizing stakeholder analysis techniques. Projects should keep in mind key attributes to define stakeholders, include their influence and interest in the project, their interrelationships, and potential conflicts.

How to Answer Questions on Stakeholder Identification in an Exam::
1. Understand the Key Concepts: Familiarize yourself with the definition, importance, and process of Stakeholder Identification.
2. Practice Scenario-Based Questions: These questions require an understanding of how to apply the stakeholder identification process in real-world scenarios.
3. Interpretation of Stakeholder Grid/Matrix: Familiarize yourself with common analysis tools such as Stakeholder Grids or Matrices.
4. Knowledge of Stakeholder Mapping and Classification: Learn about different ways to categorize stakeholders based on their power, urgency, and legitimacy.
5. Expect Unexpected Questions: Exam questions may not always be straightforward and may test your understanding of how well you have mastered the concept and its application.

Exam Tips::
Understanding the theory behind Stakeholder Identification is essential, but equally important is being able to apply this knowledge to practical situations. Practice with case studies and sample questions. Be ready to draw stakeholder matrices, prioritize stakeholders, and predict their potential impact on the project.