Here is a simple question, is it better to do the job right the first time? In other words, what is the cost of rework when it is determined that a significant requirement of a major stakeholder has been overlooked? The initial phase of a project is often filled with excitement and an urge to get to the "real work." The "real work" begins in this phase; it is when most participants are open to talking. They express their hopes, fears, concerns and expectations of what the project is to be about and this critical information needs to be captured. It is at this time when you receive the most customer and sponsor input, it is invaluable to learn as much as possible from them; especially about key stakeholders and project requirements.
A definition of a stakeholder is a person, group or organization that will influence or may be affected by the project. Therefore, stakeholder analysis can be time consuming especially on larger projects. However, the benefits are immense. You will learn who is important to keep in the loop to support the project and who will ease issues. On the flip side you will determine who is negatively impacted and opposed to the project.
It is essential to create a matrix that defines who-is-who and what influence they exert upon the project. A power/interest or influence grid is a visual representation of the stakeholders and their influence on a project (Mitchell, Agle et al. 1997).
There are many other ways to classify stakeholders and I will describe more in upcoming blogs. But, by way of introduction, this diagram eloquently describes the process. Therefore if you do nothing else, place the stakeholders in such a grid. You will save yourself a lot of time down the road. This will guide your approach when situations arise and will inform you of the possible impacts stakeholders may have on your content creation project.
References
http://en.wikipedia.org/wiki/Stakeholder_analysis
(Mitchell, Agle et al. 1997)
Mendelow's Power-interest grid (Aubrey L. Mendelow, Kent State University, Ohio 1991)