Stakeholder Register
The "Stakeholder Register" is an essential document in both project management and business analysis. It serves as a repository for the identification, assessment, and classification of all stakeholders related to a project or a business initiative.
Key Components
Identification: The first step involves listing out all entities—individuals, groups, or organizations—that may influence or be influenced by the project or intended solution.
Assessment: Each stakeholder's interest, influence, and impact on the project are assessed. This could include their stake in the project, their level of authority, and how changes to the project may affect them.
Classification: Stakeholders are categorized based on various factors such as influence, impact, or interest. Classification helps in tailoring communication and engagement strategies for different stakeholder groups.
Uses
Stakeholder Analysis: The stakeholder register is a foundational input for performing stakeholder analysis. It helps in understanding the needs and expectations of each stakeholder, which, in turn, aids in better project decision-making.
Communication Planning: Information from the register can be used to develop the Stakeholder Engagement and Communication Approach, as it provides insights into who needs what information and how they should receive it.
Risk Management: Understanding who the stakeholders are and what their interests entail can help in identifying potential risks or resistance to the project. Strategies can then be developed to mitigate these risks.
Maintenance
The stakeholder register is not a static document; it is dynamic and is updated continuously. As the project progresses or the business context changes, new stakeholders may come into the picture, or existing stakeholders' interests or influence may change. Hence, it needs to be maintained actively throughout the lifecycle of business analysis and portfolio, program, and project management activities.
In summary, the Stakeholder Register is a critical asset that helps teams identify who their stakeholders are, what their interests and influences are, and how they should be engaged and communicated with for the successful completion of a project or implementation of a solution.