Completing the analysis of value impacts requires identifying those with an interest in the value generating process: i.e., the stakeholders. The kind of stakeholder analysis required for this task has three main parts: (1) identifying the persons or groups (including organizations) whose interests are potentially affected, (2) identifying what their specific interests may be, and (3) assessing their role and potential influence in the delivery of public value. The first two parts are necessary for the analysis of value impacts and possible assessment strategies and so are discussed here. The third part is more relevant to the risk analysis discussed in more detail in section III.H below.

Identifying stakeholders for the framework will depend on in-depth knowledge of the context of the investment and the agencies involved in its development and use. Typically, stakeholder analysis engages a group of participants with extensive knowledge of the political and organizational setting of the investment and, hopefully, with experience in this kind of analysis. Because the analysis is so context-dependent, there are no standard processes to follow. There are consistencies, however, among the many versions of stakeholder analysis methods found in the management, planning, and assessment literature. These include:

• Involving multiple participants with wide knowledge of the stakeholder environment
• Looking widely to identify all relevant stakeholders through brainstorming and related methods to stimulate divergent thinking and include multiple opinions and information sources
• Identifying multiple stakeholder roles, internal and external to the organization setting (e.g., internal user, customer, vendor, developer, manager, oversight, politician, taxpayer, analyst, advocate, etc.)
• Identifying stakeholder expectations, influence potential, past and future participation possibilities, and level of interest

In this kind of analysis, continuing reference to the nature of the investment and impact mechanisms will help produce the needed focus and detail.(11)

The results of a stakeholder analysis have implications for value assessment and for understanding their potential to influence the investment project. These results can be presented in ways that show the multiple dimensions used in the analysis. An example of results from a hypothetical stakeholder analysis is shown in Figure 11.

Figure 11. Stakeholder Analysis Matrix (12)

This figure combines data for 14 stakeholders' roles (SA = Stakeholder A, etc.) and times of possible influence in a project's lifecycle. This kind of display illustrates some of the complexities of stakeholder analysis and the possibilities for interactions among different stakeholder groups. A more complete analysis would include estimates of the stakeholder's influence capabilities and specific interests in the project development and outcomes. These issues are discussed in more detail in the section on risk analysis (section III.H).

To focus on stakeholder interests, the illustration in Table 2 below shows how the results of a simple stakeholder analysis can be linked to the business process, value types, and mechanisms.

The business processes identified in Table 2 link to a partial list of stakeholder types in the columns: citizens at large, vendors, and elected officials. An actual assessment would include a more detailed list of stakeholders. The value types most likely to map onto each stake- holder type are entered in the cells. The basis for this mapping is linking the nature of the value as understood in that context with detailed knowledge of the stakeholder groups. This part of the assessment can include data collection about the interests and expectations of stakeholders through interviews, surveys, or focus groups if needed. The entries in the column for the citizens at large, for example, are based on the assumption that their interests in government stewardship would be served by the e-procurement system. While a reasonable assumption, this could be confirmed by collecting opinion data from a sample of citizens, or relying on previous opinion research. Similarly, the entries in the column for government IT staff are based on assumptions about what advances the interests of those staff members. A successful procurement system would provide political value and some strategic advantage to elected officials, as well as enhance their reputation as good stewards of public resources.