Stakeholder Analysis

Meaning & Definition

Stakeholder analysis is the act of identifying and evaluating all of the individuals or groups of individuals who are interested in or connected with your product. A well-planned stakeholder analysis will give guidance on how to interact with your stakeholders based on their level of influence and interest in the product. All of the initiatives you work on as a product manager have stakeholders, whether internal or external. You must include your stakeholders from the start to mitigate and discover risks and achieve buy-in before allocating substantial money, time, and labor to the project.

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