Classification of Stakeholders is one of the most important processes in a project. Stakeholders can be an individual, an organization, a community, a group of people, an investor that can effect or be effected by the outcomes of a project or an organization. They may have positive or negative impacts and they may be either internal or external. Stakeholder register is created to document who is impacted by the project and their influence and impact on the project.
The Stakeholder register is an essential project document that classifies, identifies and assess the stakeholders of the project. Basically, a stakeholder register is created early in the project after the project charter is signed. Stakeholder identification is the first step of creating stakeholder register.
Stakeholders can be identified by reviewing past and similar projects records, brainstorming with the project team, meeting with the project sponsor and exploring the vendors involved in the project
After the stakeholder identification, stakeholder analysis, classification and management processes comes.
The PMBOK Guide recommends below tools for stakeholder classification;
1. Power/interest grid
2. Power/influence grid
3. Influence/impact grid
4. Salience model
Stakeholders are classified according to their power, influence, impact and interest on a project. Also they can be classified according to their urgency, and legitimacy.
A stakeholder register may include below information;
– Role on Project
– Influence (Low/High)
– Impact (Low/High)
Stakeholder registers are important project management documents should be kept updated at throughout the project life cycle. As the project progressed, stakeholders and their influences on the project changes. New stakeholders comes to existence and some stakeholders lose their attention on the project. Also their power and impact on the project changes. In addition to that, Stakeholder register must be a confidential document because it includes so much information about different people and organizations.