How does Stakeholder Analysis contribute to creating better end products?

When identifying stakeholders in a project, key factors to consider include: their interest in the project, their influence over the project, their role in the project, and the potential impact of the project on them. It's also important to distinguish between internal and external stakeholders. Internal stakeholders are part of the organization executing the project, while external stakeholders are not directly part of the organization but are affected by the project.

In the Stakeholder Analysis framework, stakeholders are classified as internal or external based on their relationship to the organization and the project. Internal stakeholders are those who are directly involved in the project or are part of the organization, such as employees, managers, and owners. They have a direct stake in the project's success or failure. External stakeholders, on the other hand, are not part of the organization but are affected by its activities. These can include customers, suppliers, investors, and regulatory agencies. The classification helps in understanding the influence and interest of each stakeholder, which is crucial for effective stakeholder management.