Building a project, organizing an event, or launching a new product can be like navigating a minefield, especially when there are multiple stakeholders involved who all have different opinions, interests, and influences. But what if there’s a tool that can help you to keep everyone on the same page?

Well, there is! It’s called-

Stakeholder Power Interest Matrix.

(Nishanth, 2022)

What is the Stakeholder Power Interest Matrix?

The Stakeholder Power Interest Matrix is a map that helps to navigate the complex world of stakeholder relationships, plotting each stakeholder based on their level of power and interest in the project. By understanding where each stakeholder falls, you can develop the best approach for engaging with them and ensuring their needs are met (Project Management Institute, 2017).

For video please click Stakeholder Power Interest Matrix

Using the Power Interest Matrix

To use the power interest matrix, first, identify all the stakeholders involved in the project. Once you have a list, plot each stakeholder based on their level of power (how much influence they have on the project) and interest (how much they care about the project’s outcome). This will give a visual representation of the stakeholders and their positions in the project (Zabala, 2022).

Based on this, the stakeholders can be grouped into four categories (Zabala, 2022):

  • High Power, High Interest
  • Low Power, Low Interest
  • High Power, Low Interest
  • Low Power, High Interest
Power Interest Matrix (Barrett, 2021)

With this information, you can develop tailored strategies for engaging with each group of stakeholders and meeting their needs.

Let’s take a look at how the matrix works with an example:

Imagine you’re part of a team tasked with organizing a community festival. To achieve this, you need to manage the power and interests of your stakeholders.

  • High Power, High Interest: Festival Attendees and Community Groups.

They have a big investment in the festival and the power to make a big impact.

To keep them happy, it’s essential to involve them in the planning process, listen to their ideas and concerns, and provide opportunities for them to participate.

  • High Power, Low Interest: City Officials.

They may not be super invested in the festival, but their approval is crucial for the project to move forward.

To get them on board, it’s important to emphasize the benefits for the community and show them how the festival will benefit the city.

  • Low Power, High Interest: Local Businesses and Sponsors.

They are interested in the festival, but they don’t have as much influence.

To keep them involved, it’s a good idea to provide opportunities for them to showcase their products and services and keep them updated on the project’s progress.

  • Low Power, Low Interest: No stakeholders in this category. Phew!

By using the Stakeholder Power Interest Matrix, you can ensure that all stakeholders are engaged and happy with the project. With everyone on the same page, we can throw a festival that everyone will love!

Conclusion

So, there you have it – Stakeholder Power Interest Matrix is a valuable tool for project manager. Whether you’re launching a new product, planning an event, or building a project, the Power Interest Matrix can help you to manage the complex stakeholder relationships and keep everyone happy and on the same page.

So why not give it a shot and see how it can help you build better relationships with your stakeholders!

For video please click Stakeholder Power Interest Matrix

References

Appelo, J. (2010, November 23). Goals per stakeholder and a shared goal from the manager (digital image). flickr. https://www.flickr.com/photos/jurgenappelo/5201843170.

Barkataki, S. (2020, March 13). My and Your Spiritual Lineage Acknowledgement (digital image). Susanna Barkataki. https://www.susannabarkataki.com/post/reimagining-the-yoga-and-wellness-commons.

Barrett, D. C. (2021). Understanding Project Management: A Practical Guide (2 ed.). Canadian Scholars.

Nishanth, E. (2022). Stakeholders weigh advantages of programmatic advertising (digital image). Passionate in Marketing. https://www.passionateinmarketing.com/stakeholders-weigh-advantages-of-programmatic-advertising/.

Project Management Institute. (2017). A Guide to the Project Management Body of Knowledge PMBOK® GUIDE (6 ed.). Project Management Institute, Inc.

Zabala, I. (2022, November 25). Stakeholder Analysis using the Power Interest Grid. Project Management.com. https://www.projectmanagement.com/wikis/368897/Stakeholder-Analysis–using-the-Power-Interest-Grid.