Stakeholder Analysis is a process used to identify and assess the influence and interests of individuals or groups that can affect or be affected by a project or decision. This analysis helps project managers understand who the key stakeholders are, such as employees, customers, suppliers, and investors, and what their needs and expectations might be. By mapping out stakeholders, organizations can prioritize their engagement strategies and communication efforts. This ensures that the concerns of important stakeholders are addressed, leading to better project outcomes and stronger relationships. Effective stakeholder analysis can ultimately contribute to the success of a project or initiative.