What does Stakeholder Analysis aim to achieve in project development?

Stakeholder Analysis is a crucial technique in project development that focuses on identifying and understanding the interests, needs, and potential impact of various stakeholders on the project. By conducting this analysis, project managers can determine who the stakeholders are, their objectives, and how they might influence or be influenced by the project outcomes.

Through this understanding, the project team can develop strategies for communication, engagement, and conflict resolution, ensuring that stakeholder expectations are managed and aligned with the project's goals. This approach helps build support for the project, mitigates risks associated with stakeholder opposition, and ultimately contributes to the project's success by fostering collaboration and buy-in from those affected or invested in the project.

The other options relate to different aspects of project management that, while important, do not capture the primary focus of Stakeholder Analysis. Managing project budgets, creating technical documentation, and determining timelines are all vital components of project management, but they do not specifically address the understanding and engagement of stakeholders, which is the essence of Stakeholder Analysis.