This article presents the application of stakeholder analysis in the preparation and implementation of an industrial investment project, using a waste treatment plant as an example. The author focuses on identifying the key risks arising from the relationships between stakeholders in the investment process. The study used a combination of qualitative and quantitative methods: calculations were made in IPYNB files. The method used allows for earlier detection of sensitive dependencies and better design decisions. Stakeholder analysis can be a useful tool in an architect’s practice, especially in projects that require coordination of multiple parties and compliance with complex formal requirements. The author proposes to extend the method to model interactions using the game theory.