Stakeholder List: How-To, Tips and Examples

In the process of managing projects or running an organization, you will often have to deal with various stakeholders. Identifying these key parties and understanding their respective roles can often make a significant difference in the success of your project or organization. In this guide, we aim to provide an in-depth understanding of a tool known as a stakeholder list, including its definition, advantages, usage, and practical examples.

What is a Stakeholder List?

A Stakeholder List is an organized documentation that helps identify and categorize all the key players involved in a project or an organization. These individuals or groups can be internal (e.g., employees, managers, shareholders) or external (e.g., suppliers, customers, regulators). This list provides essential details about these stakeholders, including their roles, contact information, and interests related to the project.

Why Should You Use a Stakeholder List?

A well-constructed stakeholder list can yield multiple benefits. It provides a clear snapshot of all stakeholders, reducing the risk of overlooking someone critical to the project's success. It also simplifies communication by detailing contact information and aiding in determining the most suitable communication approach for each stakeholder. By outlining their interests in the project, the stakeholder list can help ensure that all parties' expectations are appropriately addressed.

What are the Common Attributes of Stakeholder Lists?

A standard stakeholder list typically includes:

• The stakeholders' names
• Their roles or departments
• Their contact information
• Their stakes or interests in the project

This list may vary based on the organization's size and the nature and complexity of the project. It is essential to continually update this document as the project progresses to keep everyone in sync and maintain effective communication.

How to Use a Stakeholder List?

Creating and utilizing a stakeholder list can play an instrumental role in a project's success. Here is an expanded guide to effectively using a stakeholder list:

1. Identify Stakeholders:The initial step in creating a stakeholder list is to pinpoint all the stakeholders related to the project or organization. This identification should be inclusive of every individual, group, or entity that can influence or be influenced by the project outcomes. These could range from team members and managers to suppliers, clients, and even regulatory authorities.
2. Categorize Stakeholders:Once you've identified all potential stakeholders, categorizing them based on their roles or impact can provide a more structured overview. Stakeholders can be classified as internal or external, primary or secondary, or based on their influence and interest levels. For instance, in our example above, stakeholders are divided into Internal, External, and Key stakeholders.
3. Document Stakeholder Information:With the stakeholders identified and categorized, you then need to compile all necessary details about them. This includes their name, their specific role or department within the project, their best contact information, and their stake or interest in the project. Documenting this information helps create transparency about each stakeholder's involvement and aids in streamlining communication efforts.
4. Update Regularly:Stakeholder lists are not static documents. As your project evolves, it is essential to keep updating your stakeholder list regularly to reflect any changes accurately. This includes any shifts in stakeholders’ roles, contact details, or their level of involvement in the project. Maintaining an up-to-date stakeholder list helps ensure seamless communication and collaboration throughout the project lifecycle.

Stakeholder List Examples

To further understand stakeholder lists' practical application, we provide two examples below - A common stakeholder list example and an RACI Stakeholder Matrix example.

A Common Stakeholder List Example

This example gives a straightforward representation of how you can structure your stakeholder list. This simple format divides stakeholders into Internal and External parties while highlighting Key Stakeholders.

Internal Stakeholders

External Stakeholders

Key Stakeholders

An RACI Stakeholder Matrix Example

Another commonly used form of stakeholder list is the RACI matrix, an acronym for Responsible, Accountable, Consulted, and Informed. This matrix not only lists the stakeholders but also details the tasks they are involved in and the nature of their involvement. You can find a helpful example here.

For those looking to simplify the process of creating and maintaining stakeholder lists, we recommend using Boardmix. Boardmix is an intuitive online whiteboard and diagram maker designed to make project management and collaboration more effective and seamless. With Boardmix, you can create stakeholder lists and other important project documentation with just a few clicks.

To conclude, a comprehensive and well-maintained stakeholder list can significantly improve project management and increase your chances of achieving success. It keeps everyone aligned, ensures smooth communication, and helps manage expectations – all contributing to an effective and efficient project process.