What is the objective of stakeholder analysis?

The objective of stakeholder analysis is to understand stakeholder interests and influences. This process involves identifying who the stakeholders are, what their needs and expectations are regarding the project, and how they may impact or be impacted by the project's outcomes. By understanding these aspects, a business analyst can ensure that stakeholder perspectives are considered in decision-making, which helps in building support for the project and addressing any concerns or conflicts that may arise.

Effective stakeholder analysis facilitates communication and collaboration, allowing the project team to engage effectively with different stakeholders. It serves as a foundation for managing relationships and ensuring that the project meets its objectives while also aligning with the interests of those who are involved or affected. This understanding ultimately contributes to more successful project outcomes and stakeholder satisfaction.