What are the risks of poor stakeholder identification and analysis?

1 Risk 1: Missing key stakeholders

One of the most common risks of poor stakeholder identification and analysis is missing key stakeholders who have a high impact or power on the project. These stakeholders may be internal or external, such as senior managers, customers, users, regulators, or suppliers. If they are not identified and involved in the project, they may not support the project, or worse, oppose it or create conflicts. This can lead to delays, rework, scope creep, or cancellation of the project. To avoid this risk, you should use a systematic and comprehensive approach to identify all the relevant stakeholders, such as brainstorming, interviewing, reviewing documents, or using stakeholder maps.

4 Risk 4: Neglecting stakeholder feedback

A fourth risk of poor stakeholder identification and analysis is neglecting stakeholder feedback, which is the input, opinion, or evaluation that stakeholders provide for the project. Feedback is valuable to improve the quality, usability, and value of the project deliverables, as well as to monitor and control the project performance and risks. If feedback is not sought, collected, or acted upon properly, it may result in errors, defects, or gaps in the project outcome, or missed opportunities for improvement or innovation. To avoid this risk, you should use a feedback loop that involves soliciting, analyzing, implementing, and verifying stakeholder feedback at different stages of the project.

5 Risk 5: Overlooking stakeholder influence

A fifth risk of poor stakeholder identification and analysis is overlooking stakeholder influence, which is the ability or potential of stakeholders to affect the project positively or negatively. Influence can be based on various factors, such as authority, expertise, relationship, or reputation. If influence is not assessed and managed well, it may result in unbalanced or unfair distribution of power, resources, or benefits among stakeholders, or unwanted or unexpected impacts on the project. To avoid this risk, you should use a stakeholder analysis matrix that classifies stakeholders according to their level of interest and influence, and defines appropriate strategies to engage and influence them.

6 Risk 6: Ignoring stakeholder change

A final risk of poor stakeholder identification and analysis is ignoring stakeholder change, which is the alteration or evolution of stakeholder characteristics, needs, or expectations over time. Change can be caused by various factors, such as environmental, organizational, or personal changes. If change is not anticipated, monitored, or addressed well, it may result in misalignment, dissatisfaction, or conflict among stakeholders, or deviation from the project scope, schedule, or budget. To avoid this risk, you should use a stakeholder management plan that identifies and tracks stakeholder changes, and updates the stakeholder identification and analysis accordingly.