Stakeholder analysis is a technique used by business analysts to understand the attitudes and influence of various stakeholders. This involves identifying stakeholders, assessing their interests, influence, and the impact they can have on the project. Understanding stakeholders’ attitudes and influence helps in managing their expectations, securing their support, and mitigating potential risks associated with stakeholder engagement.
References: The BABOK® Guide discusses stakeholder analysis as a part of the underlying competencies that a business analyst should develop. It is crucial for the success of any initiative to identify stakeholders, analyze their influence and impact levels, and maintain communication with them even when situations or people change1. Additionally, stakeholder relationship management is listed as one of the core business analyst skills in the BABOK® Guide2.
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