Investments in Information Technology affect key stakeholders, such as employees, owners, customers, and suppliers. According to prior studies, many of the Information Technology investments fail to deliver the expected results because stakeholders’ interests and motivations were not adequately addressed. Based on data collected from 70 companies in Sweden, we examine how consideration of key stakeholders in the pre-investment phase may influence the business value obtained from investments in Information Technology. Our findings indicate that a stakeholder view influences the choice of methods and also, at least indirectly, the chances of achieving business value. Nevertheless, a strong key stakeholder consideration does not automatically guarantee successful IT investments, if not backed by proper evaluation methods. Therefore future research may explore the issue of how a portfolio of methods could be assembled considering a company’s unique stakeholders’ characteristics and interests.