What is "Stakeholder Analysis"?

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How do you measure the impact of individual members of the team, investors, customers, or even regulatory agencies on a project's success or failure? Projects often include stakeholder analyses to evaluate and prioritize participants and key players based on their influence, attitudes, interest, and potential risk. Use the Stakeholder Analysis framework to identify threats, opportunities, and ultimately create better end products.Big undertakings often have many stakeholders that either directly or indirectly contribute to the outcome. As these considerations frequently steer projects in different directions, stakeholder analysis is a useful and often indispensable part of project management.
Unlike many number-driven analyses that businesses tend to conduct, stakeholder analysis also takes qualitative components, such as emotions and attitudes, into consideration. Stakeholder responsibilities are determined beyond just the immediate, day-to-day business functions. With a mid to long-term outlook in mind, stakeholder analysis tries to envision the potential impact, positive or negative, that particular stakeholders could have over project outcomes and even beyond.
The stakeholder analysis process first identifies the key stakeholders involved across a project. These are the main participants in the project, the main parties interested in the project, and individuals who might be affected by it, with or without active involvement. These individuals or entities are then classified as internal vs external stakeholders.