7 Best Stakeholder Analysis Tools In 2023

In the fast-paced world of organizational projects, understanding stakeholders’ diverse interests and influences is crucial for success. From project inception to completion, stakeholders play a pivotal role in shaping outcomes.

A comprehensive stakeholder analysis is indispensable to effectively navigate this complex web of relationships. By identifying and categorizing stakeholders based on their involvement, interests, and impact, organizations can tailor their strategies to foster positive collaborations and communications.

This article unveils the seven best stakeholder analysis tools proven to streamline project management and maximize project success. Let’s delve into these invaluable resources.

7 Best Stakeholder Analysis Tools

Chisel

Chisel is a powerful tool that significantly aids in stakeholder analysis for product leaders and teams. Its comprehensive set of features helps align stakeholders, prioritize tasks, and gather customer feedback effectively. Here are the key features of Chisel Labs that support stakeholder analysis.

Key Features

Team Radar: Chisel’s Team Radar feature is instrumental in promoting alignment across the organization. It involves team members in decision-making processes and proactively manages disagreements. Providing a single pane of glass for product managers streamlines stakeholder alignment and market intelligence analysis.

Feature Roadmaps: Chisel enables the creation and visualization of feature roadmaps, allowing stakeholders to understand the product’s direction and planned features in a clear and structured manner.

Team Prioritization: Stakeholders can use Chisel to prioritize tasks and initiatives effectively. It ensures everyone understands which tasks should take precedence, leading to better resource allocation and goal attainment.

Validation of User Needs: With Chisel, product teams can effectively validate user needs and requirements. By attaching customer feedback directly to features, stakeholders can assess which features are most important to users and prioritize them accordingly.

Private Customer Portal: The Private Customer Portal by Chisel Labs is a feature that allows you to create a separate portal for specific stakeholders. It can be helpful for several reasons, such as:

• Securing sensitive information: If you have sensitive information that you only want to share with specific stakeholders, you can create a private portal for them. It will ensure that the information is not accessible to unauthorized users.

• Tracking feedback: If you want to track feedback from specific stakeholders, you can create a private portal for them. It will allow you to see their feedback in one place and use the portal to communicate with them directly.

• Collaborating with partners: If you are collaborating with a partner on a project, you can create a private portal for them. It will allow you to share information and collaborate on the project in a secure environment.

Pricing

Essential Plan: Free Forever Version

Premium Version: $49 per month per user, billed annually

Enterprise Plan: Need to contact sales

Sign up for Chisel’s Free Forever Version here. 

Wrike

Wrike is a versatile project management solution that can suit the requirements of all stakeholders within your organization. It provides various features such as real-time commenting, live editing, dynamic reports, and notifications.

Key Features

• Keep stakeholders updated and aligned through regular communication: Wrike’s communications planning template helps you focus your updates, develop a regular cadence for delivery, and assign owners for accountability. It can help you avoid misunderstandings between the team and stakeholders and keep everyone aligned on the project.

• Start by creating a new project for each individual or group of stakeholders: This will help you keep track of each stakeholder’s interests and involvement in the project. You can also use Wrike’s RACI chart template to identify everyone’s roles and responsibilities within the project.

• Information can get shared with stakeholders at any time: Wrike makes it easy to share information with stakeholders, even if they’re not using the platform. You can use Wrike’s built-in messaging system or export reports and presentations.

• Managers can get real-time updates: Wrike’s dashboards and reports provide managers with real-time insights into the project. It helps them identify potential roadblocks before they happen and make sure the project is on track.

• Drill down to individual tasks or zoom out for a bird’s-eye view: Wrike’s hierarchical project structure makes it easy to drill down to individual tasks or zoom out for a bird’s-eye view of the entire project portfolio. It helps managers stay on the project and ensure everything is on track.

Pricing

Free Forever Plan is available.

Team Plan: $9.80 per user per month.

Business Plan: $24.80 per user per month.

Enterprise Plan: You need to contact sales.

Simple Stakeholders

Simply Stakeholders provides you with the essential stakeholder engagement features you need, all without the complexity or mess of spreadsheets. Even better, it doesn’t require a big budget or the support of a large team. 

Key Features

• Stakeholder management: Simple Stakeholders help you to track, manage, and engage with your stakeholders.
  • Track issues and map stakeholder relationships: You can track issues and map stakeholder relationships to visualize how stakeholders are connected and how they might impact your project.
  • Engage with stakeholders across teams: You can interact with stakeholders outside of your team to make sure that everyone is on the same page and that your project is satisfying their needs.

• Gain AI-driven insights into sentiment: You can use AI to gain insights into stakeholder sentiment to understand how stakeholders feel about your project and identify potential areas of concern.

• Share visibility with leadership: You can share visibility with leadership to ensure everyone knows the project’s progress and potential challenges.

• Stakeholder mapping: You may map your stakeholders based on their power, relevance, and impact with the help of Simple Stakeholders.
  • Visualize your stakeholders according to their influence, interest, and impact: You can visualize them according to their influence, interest, and impact to identify the key stakeholders most important to your project.
  • AI-driven sentiment analysis: You can use AI to identify stakeholder sentiment to understand how stakeholders feel about your project and identify potential areas of concern.
• Multiple projects: Simple Stakeholders can be used to track multiple projects, so you can get a holistic view of your stakeholder relationships and ensure that all your projects are on track.

• Task management: Simple Stakeholders can be used to manage tasks, so you can ensure that tasks get completed on time.

• Reporting and analytics: Simple Stakeholders provides reporting and analytics features, so you can track your progress and identify trends.

• Tagging: Simple Stakeholders allows you to tag your stakeholders and interactions to track and analyze your data easily.

• Confidential access: Simple Stakeholders allow you to restrict access to confidential information to protect sensitive data.

• Email and texting: Simple Stakeholders allows you to stay in touch with stakeholders via email and texting, so you can keep them informed and track your progress.

Pricing

They offer three different plans, and all of them are customizable. You need to contact them directly.

StakeTracker

StakeTracker is a sophisticated, purpose-built software solution for stakeholder information management. It aims to support stakeholder engagement and public consultation professionals in effectively handling communication with stakeholders, communities, and the public. 

Key Features

• Manage numerous communications with stakeholders: StakeTracker allows you to manage all your communications with stakeholders in a single, central location. It includes emails, phone calls, meetings, and other forms of communication.

• Record stakeholder interests, issues, and concerns: StakeTracker allows you to record stakeholder interests, issues, and problems. This information can track progress in addressing stakeholder concerns and identify potential project risks.

• Track stakeholders’ issues and resolutions and commitments made to them: StakeTracker allows you to track the status of stakeholder issues and resolutions. This information can ensure that all stakeholder concerns are getting addressed in a timely and effective manner.

• Report with powerful yet easy-to-use pre-defined or user-defined templates: StakeTracker allows you to create reports on stakeholder engagement. These reports can track progress on the project, identify potential risks, and demonstrate transparency and accountability to stakeholders.

• Maintain a single central, accessible, and secure database: StakeTracker stores all your stakeholder engagement data in a single, central database. This database is accessible to all authorized users and is safe from unauthorized access.

• Search and analyze large volumes of stakeholder communications quickly: StakeTracker allows you to search and analyze large volumes of stakeholder communications rapidly. This information can identify trends, patterns, and risks.

Pricing

Offers customizable pricing

Totango

Totango is a cloud-based platform dedicated to customer success and retention. It empowers enterprises to enhance customer success, adoption, retention, and expansion by efficiently managing all post-sales activities. The platform boosts conversion rates by gathering crucial customer information, monitoring data for significant changes in customer health, and facilitating proactive engagement by customer success teams. 

Key Features

• Develop a mutually agreed upon SuccessPlan and deliver Quarterly Business Reviews (QBRs): Totango helps you develop a mutually agreed upon SuccessPlan with your stakeholders. This plan outlines the goals and objectives of the relationship, as well as the key milestones and deliverables. Totango also helps you deliver Quarterly Business Reviews (QBRs) to track progress and ensure the plan is on track.

• See how your team engages with stakeholders and key contacts: Totango provides insights into how your team engages with stakeholders and key contacts. It includes information on the frequency of engagement, the channels used, and the topics discussed. This information can help you identify areas where engagement is lacking and ensure that your team is meeting the needs of your stakeholders.

• Create plays and campaigns to drive the proper engagement cadence and ensure key engagement points in the customer life cycle: Totango helps you create plays and campaigns to drive the appropriate engagement cadence with your stakeholders. These plays and campaigns can engage with stakeholders proactively, ensure key engagement points are in the customer life cycle, and track the effectiveness of your engagement efforts.

• Proactively engage when there is low product usage or low engagement from key contacts: Totango can assist you with proactive stakeholder engagement when there is minimal product utilization or low interaction from important contacts. It can assist you in spotting and resolving possible issues before they escalate.

• Ensure regular cadence with stakeholder contacts: Totango can help you ensure a regular cadence with stakeholder contacts. It can help you build relationships with your stakeholders, stay current on their needs, and ensure that your team meets their expectations.

Pricing

Starter Plan: $2,988 per year

Enterprise Plan: $18000 per year

Premium Plan: Custom Plan

Jambo

Jambo is a stakeholder relationship management solution (SRM) designed to assist organizations in streamlining their stakeholder engagement and consultation operations.

Key Features

• Secure Stakeholder Information Management: Jambo provides a secure platform to organize extensive stakeholder information, catering to many stakeholders or communities. Users can effortlessly add key contacts and consistently log communication records, creating a comprehensive history of engagements.

• Centralized and Shareable Data: All stakeholder data resides in one secure location, ensuring easy access and seamless collaboration across teams and projects. This centralized approach promotes efficient information sharing and coordination.

• Effortless Report Generation: Creating stakeholder engagement progress reports or consultation reports can be challenging without proper tools. Jambo streamlines the process by allowing users to log all engagement information and compile tailored reports swiftly with just a few clicks.

• Tracking Stakeholder Issues and Commitments: Staying on top of issues and commitments is crucial to maintain stakeholder trust. Jambo facilitates this by enabling users to log and organize such issues, review them based on priority and impact, and monitor their progress until resolution or fulfillment.

• Regulatory Compliance Made Easy: Jambo simplifies regulatory reporting and consultation action plans. Users can easily pull all relevant data into reports, meeting the requirements for demonstrating adequate and meaningful stakeholder engagement.

• Detailed Reports for Indigenous Communities: With Jambo, users can export detailed reports that showcase the complete history of engagement with Indigenous communities. These reports testify to the organization’s commitment to transparency and inclusivity.

• Meeting Duty to Consult Obligations: Jambo helps organizations fulfill their legal Duty to Consult obligations by providing the necessary tools and data to support consultation processes effectively.

• Demonstrate Feedback Utilization: The tool allows users to incorporate feedback received during engagements into reports. These reports can act as elements in annual reports, demonstrating how stakeholder input informed decision-making and shaped plans.

Pricing

Jambo Professional Plan: One-year subscription starts at $995 per month

BQE CORE

BQE CORE is an all-in-one practice management solution tailor-made for various fields, such as Architects, Engineers, Consulting Firms, and Professional Service Practices.

It empowers these firms to control every aspect of their operations, including project management, project accounting, time & expense tracking, billing & invoicing, time tracking, project-based ERP, professional services automation, and more.

Key Features

• Track stakeholder interactions: BQE CORE allows you to track all of your stakeholder interactions, including emails, phone calls, meetings, and document sharing. This information can identify key stakeholders, understand their interests, and manage their expectations.

• Manage stakeholder permissions: BQE CORE allows you to manage them so they can only access the necessary information.

• Create reports on stakeholder engagement: BQE CORE allows you to create reports to track their progress and identify areas where they need more support. This information can improve your stakeholder management process and ensure all stakeholders are informed and engaged.

• Real-time insights: BQE CORE provides real-time insights into stakeholder engagement so that you can make informed decisions about your stakeholder management strategy.

• Phased billing: BQE CORE allows you to bill stakeholders in phases, which helps to ensure that you get paid on time and that your cash flow is predictable.

• Full financial performance view: BQE CORE provides a full financial performance view at every level, so you can see how your stakeholders impact your bottom line.

• Business accounting integration: BQE CORE integrates with your business accounting system, so you can easily track and report on your stakeholder-related expenses.

Pricing

Need to contact sales

Conclusion

Stakeholder analysis is an important part of any project or business initiative. Understanding and engaging with key stakeholders can increase your chances of success.

In this article, we reviewed seven of the best stakeholder analysis tools available. Stakeholder analysis tools offer a variety of features to help you identify, prioritize, communicate with, and collaborate with stakeholders. 

They can also provide insights into stakeholders’ needs, expectations, and concerns, which can help you make informed decisions and tailor your strategies accordingly.

Stakeholder analysis tools can help you improve project management, build better stakeholder relationships, and mitigate potential risks. Stakeholder analysis tools can also save time and effort by simplifying the process.

Integrating a stakeholder analysis tool into your workflow can be a game-changer for your organization. You can achieve great results and maximize your projects by embracing data-driven decision-making and stakeholder engagement. Start using one of these tools today and unlock your business’s potential!