Creating a Stakeholder Map in 4 Easy Steps

1. 120 Matheson Boulevard East, Suite 203, Mississauga, ON, Canada L4Z 1X1 Website: https://www.educationedge.ca/pmp-boot-camp/ Creating a Stakeholder Map in 4 Easy Steps Stakeholders are people or organisations with a vested interest in the project's success, whether they are internal or external to it. This enthusiasm can have a positive or negative impact on the project's success. As a result, it's critical to understand your stakeholders. You must be able to manage the project's stakeholders in addition to identifying who they are. It's a huge undertaking. When communicating with them during the project, how do you know who needs what? That is where stakeholder management begins, and it begins with stakeholder mapping. What is a Stakeholder Map? A stakeholder map is a four-quadrant visual influence-interest matrix that is used to identify stakeholders and categorise them according to their level of influence and interest in the project. The y axis represents the level of interest, with the highest at the top and the lowest at the bottom, indicating how much the project's outcome affects the stakeholders. From low (left) to high (right), the x axis of the grid measures the stakeholder's level of influence, or how much the stakeholder can influence the project (right side). Stakeholders are then plotted on the map based on their performance on those two metrics. How to create a Stakeholder Map? Follow these four steps when you're ready to create your stakeholder map and begin the stakeholder mapping process:

2. 1.Identify Stakeholders A project can have a large number of stakeholders. The list you create will be based on your organisation, the project's impact, and its goals. As a result, you may need to revise the list as the project progresses. 2.Analyse Stakeholders The next step necessitates some research. This allows you to determine how important they are to the project and what perspective they bring. To do so, determine what type of stakeholder they are, how much they might contribute, and their legitimacy to do so. Are they willing to participate in a conversation? How much say and involvement do they have in the project? 3.Map Stakeholders This is where you divide your box into four sections, with the y-axis measuring the degree of influence from low (bottom) to high (top) (top). You map the level of interest on the x-axis from low (left) to high (right) (right). Plot your stakeholders and your analysis on the two axes using your list of stakeholders and your analysis. 4.Prioritize Stakeholders You can start devising a plan for how you'll engage with the stakeholders over the course of the project now that you've listed, analysed, and plotted them on the map. You'll either manage them closely or just monitor them depending on where they land on the map. This is where your stakeholder communication plan and stakeholder management will begin. Need more insights on the same? Enrol in a PMP bootcamp online today!