Why use this technique?
If a business analyst wants to determine impact that stakeholders have on his project, the stakeholder power/interest analysis can help in this. It can also help selecting the proper communication approach for each stakeholder group. This technique is also known as stakeholder power/interest matrix, Stakeholder power/interest grid, PI grid, Influence/Interest matrix.
This model classifies stakeholders based on their power and interest in the project. It allocates the stakeholders to one of the categories:
- high power/ high interest
- high power/ low interest
- low power/ high interest
- low power/ low interest
How do I do it?
Step 1: Identify stakeholders. Here you can find some useful techniques to do that.
Step 2: Draw a two dimensional-matrix ,see an example below:
Step 3: Assign stakeholders to one of four categories.
Depending on the category, this model suggests different ways how to deal with these stakeholders. Stakeholders with high power en low interest shall be kept satisfied. Those with low interest and low power shall be only monitored with minimum effort. A stakeholder with low power and high interest in a project shall be keep informed and finally the high power, high interest stakeholders shall be closely monitored and informed.
- Common mistake is to draw the stakeholders where they should be or perhaps where a business analyst would like them to be instead of illustrating the real situation.
- For a balanced, objective view it is recommended to do it with a project manager and/or peer business analist.
- Each quadrant in the matrix indicates the recommended communication strategy with stakeholders.
- Stakeholder power and influence is sensitive information and is not meant to be distributed outside the core project team.
- If more details categorization is needed it is possible to apply an extended power/interest grid with 9 different categories, see an example below:
Technique “Stakeholder map” supports documenting results of this technique.
Advantages and disadvantages
- Helps discovering where the real power over a project is located and therefore making better project decisions
- Helps finding the right communication means with stakeholders
- Can be subjective
- To benefit must be performed on regular basis
- Plotting a stakeholder on this matrix does not show his attitude towards our initiative. We do not know whether a stakeholder is for or against it. Sometimes symbols like (+, -, or 0) are used to indicate that a stakeholder shows positive, negative or neutral attitude.
Further information you can get from: http://www.mindtools.com/pages/article/newPPM_07.htm