Identify Stakeholders Process in Project Management

Establishing stakeholder identification is a fundamental part of the Waterfall project management methodology, as well as the Agile approach. Stakeholders are those people or entities who have the potential to facilitate or obstruct the project goals, or who may be affected by the project. To guarantee success, the proactive and reactive involvement of all related stakeholders must be actively managed. Hence, the primary step is to determine who these stakeholders are and to accurately assess their interests, needs, and qualities.

How to Conduct?

If you try to conduct this process in your project as a project manager, it is quite easy but important as well. You should first think about who the potential stakeholders might be.  Anyone can be on this list.  A potential stakeholder can be anyone you think who may be related to the project. You should also think about or be affected by the impact of the project. It is free to think broadly on this subject. Your focus should be on making sure no one is left out. You shouldn't skip anyone. It will be possible to consider all possible stakeholders this way.

After the first list of potential stakeholders has been created, you have to make sure that your stakeholders are really involved with the project. Then you should make an analysis based on their influence and interest in the project. Determine levels and decide.  You will have the opportunity to rank the stakeholders as a result of this analysis,This analysis can be done by assessing the level of influence of stakeholders on the project. High impact stakeholders and high interest in the project should be given higher priority than those with low impact or interest. This prioritization is important for the success. At first prioritize effective and relevant stakeholders successfully. You need to take steps to interact with them to gather information about their needs and expectations afterwards. Because this information you will collect will be used later to develop a stakeholder management plan.
It is vital to establish who the stakeholders are, what their influence on the project is, their perspective on the project, their requirements, and how to manage their involvement to enable successful stakeholder participation. Questions in PM certification tests are intended to assess one's capacity to successfully manage stakeholder participation. So, how many procedures be constructed in such a way that stakeholders are appropriately involved?