The StakeholderCircle® is based on the premise that the success of a project business enterprise can only occur with the informed consent of its stakeholder community. This community comprises individuals and groups, each with a different potential to influence the project’s outcome.
The Stakeholder Circle has been devised to offer a mechanism for assessing the relative influence of each of the key stakeholders and planning ways to engage with and manage their expectations/contributions. The benefit of using this tool is derived in part from the analysis process itself as well as from the ease with which the influence of key stakeholders on the project can be judged once the Stakeholder Circle diagram is complete.
The tool facilitates the regular updating of this assessment as the stakeholder community changes to reflect the dynamic nature of the project and its relationships. Changes and trends are tracked over time to help the team identify which engagement strategies are working and which need reviewing. The key steps in this process are: