W3_MA_further analysis of extarnal stakeholder

1. Problem Definition

In Week 2 blog, external stakeholder analysis has been conducted, and passed in that further analysis is recommended to identify the best analysis model that would be applicable for the company. This would include different analysis tool from the one that was used in week 2 blog.

2. Identify the Feasible Alternative

The stakeholder analysis would help providing an overall picture with all the related stakeholders, their interest with the project objectives and even with the relationships between other stakeholders [1]. It might also identify any actual and potential conflict of interest in the project and between stakeholders. 

The stakeholder analysis will consist of four steps analysis, which are: 

• Identifying the external stakeholders

• Creating a Stakeholder Map 

• Identifying Stakeholder Allegiance

• Creating a Stakeholder Management Strategy [3]

3. Development of the Outcome for Alternative

Using the same stakeholders that were used in week 2 blog and PESTLE tool as following:

Table 1

4. Selection Criteria

These stakeholders are categorised as shown in Figure 1 which identifies the possible allegiances.

Figure 1 [2]

The classifications from Figure 1 to classify the project stakeholders as shown in Table 2 below.  

Table 2

5. Analysis and Comparison of the Alternative

The results from the classification table 2, could be used to map the interest against the power or the influence of these stakeholders in the project as shown in Figure 2.

Figure 2

6. Selection of the Preferred Alternative

Figure 2, can be used to defined the action and management strategies that should be taken by the project team or the project manager to avoid and mitigate issues that might arise from and between stakeholders. The actions are given as shown on Figure 3.

Figure 3

7.      Performance Monitoring and the Post Evaluation of Result

Each of these stakeholders might have higher impact in some cases and/or more interest in the project. This would require an update to the evaluation and the analysis used for each project. 

[1] Stakeholder Analysis | BEST way to analyse Stakeholders, Stakeholder Analysis, Project Management, templates and advice, retrieved from { https://www.stakeholdermap.com/stakeholder-analysis.html}  

[2] IDENTIFYING AND ENGAGING STAKEHOLDERS, GUILD OF PROJECT CONTROLS COMPENDIUM and REFERENCE, retrieved from { http://www.planningplanet.com/guild/gpccar/identifying-engaging-stakeholders } 

[3] Stakeholder Analysis toolkit, retrieved from {http://www2.mmu.ac.uk/media/mmuacuk/content/documents/bit/Stakeholder-analysis-toolkit-v3.pdf}