Stakeholder Analysis-Prioritization Matrix

The Stakeholder Analysis-Prioritization Matrix is a strategic tool used to identify and prioritize stakeholders based on their level of interest and influence. This helps businesses allocate resources effectively and manage stakeholder relationships to ensure project success.

At a very high level, the Stakeholder Analysis-Prioritization Matrix is used in the context of business, management, strategy.

Stakeholder Analysis-Prioritization Matrix quadrant descriptions, including examples
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What is the Stakeholder Analysis-Prioritization Matrix?

A visual explanation is shown in the image above. The Stakeholder Analysis-Prioritization Matrix can be described as a matrix with the following quadrants:

  1. Keep Satisfied: High influence, low interest stakeholders who should be kept satisfied. Example: Senior executives not directly involved in the project.
  2. Manage Closely: High influence, high interest stakeholders who should be managed closely. Example: Key investors or major clients.
  3. Monitor: Low influence, low interest stakeholders who should be monitored. Example: General public or minor suppliers.
  4. Keep Informed: Low influence, high interest stakeholders who should be kept informed. Example: Employees or community groups interested in project outcomes.

What is the purpose of the Stakeholder Analysis-Prioritization Matrix?

The Stakeholder Analysis-Prioritization Matrix is a crucial tool in project management and strategic planning. It helps organizations identify key stakeholders and categorize them based on their level of interest and influence over the project or business operations. By mapping stakeholders into a 2x2 matrix, businesses can develop tailored engagement strategies to manage stakeholder expectations and leverage their support.

The matrix is divided into four quadrants: Keep Satisfied, Manage Closely, Monitor, and Keep Informed. Each quadrant represents a different strategy for engaging with stakeholders:

  • Keep Satisfied: Stakeholders with high influence but low interest. They should be kept satisfied to avoid negative impacts on the project.
  • Manage Closely: Stakeholders with high influence and high interest. These stakeholders are critical to the project's success and require active management and engagement.
  • Monitor: Stakeholders with low influence and low interest. These stakeholders require minimal effort but should be monitored for any changes in their status.
  • Keep Informed: Stakeholders with low influence but high interest. They should be kept informed about project developments to maintain their support and interest.

Use cases for the Stakeholder Analysis-Prioritization Matrix include project management, change management, and strategic planning. For example, in a new product launch, the matrix can help identify which stakeholders need to be closely managed, such as key customers and investors, and which can be kept informed, such as the general public.

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What templates are related to Stakeholder Analysis-Prioritization Matrix?

The following templates can also be categorized as business, management, strategy and are therefore related to Stakeholder Analysis-Prioritization Matrix: Product-Market Matrix, 4 Ps Marketing Mix Matrix, AI Capability-Value Proposition Alignment Matrix, AI Innovation-Value Alignment Matrix, AI Maturity Matrix, AI-Value Proposition Alignment Matrix, AI-Value Proposition Matrix, AIDA Marketing Matrix. You can browse them using the menu above.

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