What is the primary purpose of stakeholder analysis?

The primary purpose of stakeholder analysis is to identify and assess the influence of stakeholders on the project. This process involves identifying all individuals, groups, or organizations that can impact or are impacted by the project, and understanding their interests, expectations, and levels of influence. By conducting a comprehensive stakeholder analysis, project managers can develop strategies to engage effectively with stakeholders, ensure their needs are addressed, and mitigate potential risks that may arise due to stakeholder influence.

Engaging stakeholders early and understanding their perspectives can lead to better decision-making, improved project alignment, and overall project success. While other aspects such as project schedules, costs, or communication strategies are essential for project management, they come after thoroughly understanding and assessing the stakeholders who significantly affect the project outcomes.