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Yes, it is important to do stakeholder analysis early in the project (during planning phase). The earlier you understand the stakeholder influence on the project, the better you can plan to manage their expectations..
If you missed to identify a key stakeholder until the mid of execution of project, and if his/her expectations aren't met in the project, it becomes expensive to accommodate changes at this proint, or project become infeasible..
Extremely.
it is critical know your key stakeholder and identify the criticalilty of a certain stakeholders in the project. PM should always have their stakeholder matrix updated.
Meet everyone and anyone who may have any interest in the project to understand their criticality to the project.
