Stakeholder analysis is the process of identifying and understanding the needs, expectations, interests, and influence of the people who have a stake in the project or the solution. Stakeholder analysis is not a one-time activity, but rather an ongoing process that should be performed throughout the business analysis lifecycle. Stakeholders may change over time, as new ones emerge or existing ones leave or change their roles. Stakeholders may also have different levels of involvement, engagement, and satisfaction at different stages of the project. Therefore, stakeholder analysis should be updated and revised regularly to reflect the current state of the stakeholder relationships and to ensure effective communication and collaboration among the stakeholders12.
The other options are not correct because:
Option A is incorrect. It will continue until all of the stakeholders have been identified is not a valid statement, because it is impossible to identify all of the stakeholders at the beginning of the project. Some stakeholders may not be visible or accessible at the start, or they may become relevant later as the project progresses. Therefore, stakeholder identification should be an iterative and continuous process that adapts to the changing project environment3.
Option B is incorrect. It will continue until the requirements have been approved is not a valid statement, because stakeholder analysis does not end with the approval of the requirements. Stakeholder analysis should continue beyond the requirements phase, as the stakeholders may have different feedback, input, or approval on the design, development, testing, implementation, and evaluation of the solution. Stakeholder analysis should also consider the post-implementation impacts and benefits of the solution for the stakeholders4.
Option D is incorrect. It will continue until the project charter is signed is not a valid statement, because stakeholder analysis does not stop with the initiation of the project. Stakeholder analysis should continue throughout the planning, execution, monitoring, and closing of the project, as the stakeholders may have different issues, risks, or opportunities that need to be addressed or leveraged. Stakeholder analysis should also support the change management and transition activities that involve the stakeholders.
References:
Business Analysis Guidebook/Stakeholder Analysis - Wikibooks, section “Stakeholder Analysis is the activity of”
Business Analysis Driving Business Success, page 6
Stakeholder Identification: How to Identify Stakeholders in a Project, section “Why is stakeholder identification important?”
Stakeholder Analysis: The Ultimate Guide, section “When to do a stakeholder analysis”
[Stakeholder Management: A Key to Project Success], section “Stakeholder Management Process”
