Stakeholder Matrix

STAKEHOLDER MATRIX - Includes Free Template

Are all stakeholders equal?
According to Mendelow's Power-Interest Grid, all stakeholders are not
created equal. They differ in terms of their power over and interest in your
project. So, how do you manage the different categories of stakeholders?
This is where the Stakeholder Matrix comes in. Stakeholder analysis is so
key to the success of projects that BABOK recommends stakeholders be
managed throughout the project life cycle.
Knowledge Area: Business Analysis Planning & Monitoring
Applicable Task: Conduct Stakeholder Analysis
Useful When: Identifying stakeholder power, attitudes and interests in
the project. Stakeholders are extremely dynamic and may move all over
the matrix when their interest/power changes.
Using the Customer Ordering System Example, stakeholders are
presented in the matrix as follows:

Stakeholder Matrix showing the power/interest of stakeholders

PRACTICAL APPLICATION

In order to apply this technique to your project, follow these steps:

1.

List all the stakeholders in your project, no matter how little their
power or interest in your project
2.
Categorize them based on their interest in the project and their
decision-making power
3.
Place them in the appropriate quadrant - see template here
4.
Monitor them continuously and move them round the quadrant as
their interest/power evolves.
The general recommendation is:
For stakeholders with low power and low interest, they should be
monitored with minimal effort. For stakeholders with low power and high
interest, the BA should keep them informed constantly. Stakeholders with
high power and low interest should be kept satisfied while the BA should
work closely with stakeholders who have a high power over the project
and a high interest in it.
While this matrix is extremely useful in determining the frequency of
communication with various stakeholders, it may result in a situation
where the analyst pays more attention to certain stakeholders to the
potential detriment of others. Analysts must understand that while the
model provides a great starting point for the initial unravelling of
stakeholder complexities, interest and power do tend to change with
changing circumstances. As such, I would rather monitor all my
stakeholders with the same level of effort to prevent nasty surprises down
the line.