Examine Buy-In with Stakeholder Analysis

1. Examine Buy-In with Stakeholder Analysis Executive SummaryExamine Buy In with Stakeholder AnalysisIdentifying the main stakeholders and their level of influence can be vital to thesuccess of your project. Stakeholder analysis involves recognizing individuals andgroups with the power to either sway or make a key decision.Mapping can be used to get a deeper understanding of the position and motive ofeach stakeholder involved in the decision making process. Use Demand Metric’sStakeholder Analysis Matrix to document key influencers and to understand how yourefforts can be channeled more effectively.What are the Key Stakeholders Types?Decision Makers; Executive Influencers; Executive Buyers; Technical Influencers;Technical Buyers; End Users; Consultants; Project Team, etcWhat are the Drivers for Decision Support? • Influence – how much influence does this stakeholder have in the decision? • Interest – what is the current level of engagement and interest? • Power – how much organizational power does this person possess? • Buy In – to what degree does the stakeholder support the project or sale? • Current Support – is the support level High, Moderate, or Low? • Flexibility – how likely is this stakeholder to change their mindset?Action Plan: 1. Prepare a Stakeholder Analysis – Use Demand Metric’s Stakeholder Analysis Matrix to assess the influence and buy in of key stakeholders. 2. Identify Risks & Threats – Examine your Stakeholder Analysis Map to determine which stakeholders could be a threat to project success. 3. Develop Action Items – based on your analysis, develop action items and key success factors for each stakeholder and follow up to monitor progress. 4. Update your Matrix – when new information related to interest, power, support level, and flexibility is learned, update your stakeholder matrix/map. 5. Communicate with Project Team – share your results on a weekly basis. © 2009 Demand Metric Research Corporation